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Student Loans Firm Tightening Debt Collection Procedures

£29m has been written off as the firm responsible for the student finance system firm tightens its debt recovery procedures. With new means of revealing debtors’ work and income status, and advancement in chasing European students who have since left the country, the Student Loans Company (SLC) have made improvements across the board in an attempt […]

Great advice for issuing invoices

Great example of a invoice template   We regularly encounter a small number of small businesses and sole traders do not have a formatted invoicing process. This can is cause problems and may well prejudice a claim for monies owed if the correct information is not on it. There is also the legal obligations that need […]

Can Directors be held liable for Company Debts?

  Disqualified Director Normally, Directors of Limited Companies in the UK are not usually held personally liable for Limited Company debts. Sometimes, the courts can hold one or more of a company’s Directors accountable for a firm’s debts during a insolvency process if a Director has found guilty of wrong-doing. Once a Company has become insolvent, the […]

“Take action to collect owed Monies or put your Company at risk”

  Experts are sending out the message to take action to “Collect owed monies or put your company at risk”. More than ever, businesses are failing due to the very solvable issue of unpaid business invoices. According to R3, a leading UK trade insolvency trade organisation, almost a quarter of firms that went out of […]

Customer gone into liquidation – so what now….?

Customer gone into liquidation? After the Christmas period, January is often a very challenging time for businesses – large and small. If the christmas period hit them particularly hard, some firms are forced to call in the administrators or go into liquidation. If you have a supplier or customer that has gone into liquidation taking […]

UK Businesses Top Excuses for Unpaid Invoices

Top excuses for unpaid invoices Excuses, excuses… Primarily, one of the most annoying aspects of running a business is chasing unpaid invoices. Secondly, it is dealing with some of the spurious rexcuses a minority of customers state is the reason for them not paying up. When you have worked in the debt collection industry for as long […]

UK Economy: Double-Dip Recession Not As Deep As Feared

Britain’s double-dip recession is not as deep as previously feared after revised figures showed a smaller contraction in the second quarter of the year. Gross domestic product (GDP) – a broad measure of the economy – fell 0.5% between April and June in the Office for National Statistics’ second estimate, which is better than the […]

UK economy needs infrastructure stimulus, says BCC

The British Chambers of Commerce has called for more government spending on infrastructure as it predicted that UK GDP would shrink by 0.4% in 2012. The BCC also cut its forecast for 2013, from 1.9% to 1.2% growth. The industry body said the eurozone crisis and a sharp rise in food and oil prices posed […]

Commercial Insolvency levels Improve

Business insolvencies have fallen slightly in June, according to Experian’s latest Business Insolvency Trends report. 0.08% of the business population became insolvent in June, a small improvement on 0.09% in the previous month. SMEs with between 1-100 employees were the only group to see improvements in their insolvency rates. Those businesses with 101 or more […]

Government scrap Insolvency reforms

Despite complaints from insolvency practitioners that staff and budget cuts at the Insolvency Service are allowing unscrupulous directors to escape justice, the Department for Business, Innovation and Skills shelved an initiative to streamline the process for reporting misconduct. The Government said a drive to reduce red tape for the smallest companies was behind the decision. […]