Debt collection agencies news

• Winding Up Petitions (Companies) Notices – 12th October 2018

  18-10-2018 16:34
  Daily listing of advertised Winding Up Petitions
  
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• Insolvency rising again says Trade body

  15-04-2024 10:03 via ukdcnews.co.uk
  
  INSOLVENCY activity has again increased in the south east, according to the UK’s insolvency and restructuring trade body.
  R3 figures showed a rise in this activity from 246 in February to 261 in March, remaining consistent with the 12-month high of 277 in March 2023.
  The body has warned trends are continuing to rise, following its analysis of data from Creditsafe.Data also showed the number of firms in liquidation which owed money to their creditors remained static at 377 in March, up
  
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• Retail Insolvencies climb 19% in the UK

  11-04-2024 12:54 via ukdcnews.co.uk
  
  New analysis by Mazars has found that the number of insolvencies by retailers has increased 19% in the past year to 2,195 in 2023/24 up from 1,843 in 2022/23.
  High profile retail insolvencies include The Body Shop in February, as well as fashion brand Ted Baker and online luxury fashion retailers MatchesFashion and Farfetch.
  Cautious consumer spending, and higher interest rates have also impacted the rise. Retail sales have also dropped, with total in-store and online sales falling 2.2% in March
  
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• Haulage firms named in Business Late payers list

  27-03-2024 09:50 via ukdcnews.co.uk
  
  Well known transport, distribution and haulage firms have cropped up in a list naming and shaming both late and serially-late payers of invoices.
  The “rogues gallery” included Ceva Logistics, Reed Boardall, Brake Bros and Jack Richards & Son.
  However, Leicestershire-based Samworth Brothers was praised for making a big improvement in its payment performance.
  Research by campaign group Good Business Pays (GBP) found there had been a 20% increase in companies reporting average paym
  
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• Plant Hire firm enters liquidation despite nearly 50 years of trading

  15-03-2024 11:21 via ukdcnews.co.uk
  
  A well known Scottish plant hire firm has entered liquidation after near half a century of trade.
  All jobs have been lost at a Fife based plant hire firm James Penman (Plant hire) Limited as it was put into liquidation despite trading nearly 50 years.
  Thirty five members of staff have been made redundant at family-run James Penman Plant Hire in Kirkcaldy after joint provisional liquidators were appointed on Tuesday, March 5.
  The company had been trading since being founded in 1974 by James Penma
  
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• Martin Lewis investigates shady actions by UK Debt Collection Company

  13-03-2024 11:11 via ukdcnews.co.uk
  
  In the United Kingdom, an intriguing scenario has surfaced within the UK’s debt collection sector and the infamous Martin Lewis.
  This involves the controversial activities of a UK Debt Collection company, Barratt Smith Brown, who have been accused of sending emails with a signature resembling that of the globally renowned late pop singer, Michael Jackson.
  This shocking revelation emerged as part of an investigative process carried out by Martin Lewis and his MoneySavingExpert platform. (MS
  
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• Surge in Unpaid Rental Arrears says Industry supplier

  08-03-2024 11:41 via ukdcnews.co.uk
  
  Data released from Reposit, a deposit alternative service, reveals what it calls “a concerning surge in rent arrears” during the final quarter of last year as the economic climate took its toll on tenants.The data reveals an uptick in the value of typical rent arrears claims from October’s £1,344 to  £2,108 in November, and maintaining high levels at £1,954 in December. Concurrently, the percentage of tenancies concluding with arrears rose from 13.7 per c
  
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• Small Business late payment costing SMEs £1.6Bn

  07-03-2024 10:49 via ukdcnews.co.uk
  
  Small Business Late Payment and the cost of such has more than doubled in the past two years, reaching £1.6 billion at the end of 2023, according to a report by Xero.
  The latest quarterly data shows small firms were paid, on average, 6.1 days late during the last three months of 2023. This figure shows no signs of improving, with the average payment still received over a working week beyond the agreed terms.
  The current trading conditions are being added to by the growing cost of small bus
  
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• 10% rise in Business Insolvencies predicted by Experts

  05-03-2024 10:05 via ukdcnews.co.uk
  
  UK Business insolvency could increase by 10% this year, according to research by Allianz.
  The insurer’s global insolvency outlook revealed that 15% of small and medium-sized businesses in the UK are at risk of going bust, the highest proportion in Europe. This is compared to 14% in France, 9% in Italy, and 7% in Germany.
  Sectors such as retail, manufacturing, construction, and real estate are particularly vulnerable due to weaker demand and higher borrowing costs.
  Allianz predicts that as
  
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• Actors resorting to Debt Recovery action to get paid

  01-03-2024 09:51 via ukdcnews.co.uk
  
  A large number of Actors from shows such as Call the Midwife, have had to resort to taking debt recovery action to ensure they get paid according to reports in the Deadline.
  Mad Dog 2020 Casting, a 25-year-old British agency that supplies background actors to major productions, is facing legal debt recovery action after failing to pay scores of clients.
  Legal Debt Recovery Action
  Equity and Bectu, two of the most prominent UK creative industry unions, are pursuing legal debt recovery c
  
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• 1 in 3 Small Business owners fears closure this year

  29-02-2024 11:27 via ukdcnews.co.uk
  
  Nearly one in three (31%) of small business owners anticipate the potential closure of their businesses by the end of 2024 according to research by Novuna Business Cash Flow.
  Novuna says that the prospect of numerous businesses facing closure is sobering, a reality underscored by a recent ONS report, showing just 3% of businesses had temporarily halted trading in the month of February 2024, with only 2% having shut down permanently.
  The findings also shed light on the challenges leading to poten
  
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• 1 in 3 Small Business owners fear closure this year

  29-02-2024 11:27 via ukdcnews.co.uk
  
  Nearly one in three (31%) of small business owners anticipate the potential closure of their businesses by the end of 2024 according to research by Novuna Business Cash Flow.
  Novuna says that the prospect of numerous businesses facing closure is sobering, a reality underscored by a recent ONS report, showing just 3% of businesses had temporarily halted trading in the month of February 2024, with only 2% having shut down permanently.
  The findings also shed light on the challenges leading to poten
  
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• Number of Restaurants closing hits new high in the UK

  28-02-2024 11:48 via ukdcnews.co.uk
  
  The number of restaurants closing across Britain hit a new quarterly high at the end of 2023, with more than 500 closing.
  There were 514 restaurants closing permanently across England, Scotland and Wales in the final quarter of last year, compared to 481 in Q2 2023, according to data obtained under the Freedom of Information Act by accountancy firm Price Bailey.
  The research showed that 1,932 restaurants entered insolvency in 2023, equating to an average of more than five closures per day, up fr
  
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• Council calls off Bailiffs chasing Unpaid School dinner fees

  26-02-2024 09:49 via ukdcnews.co.uk
  
  A local authority exposed by the Sunday Mail for using debt collectors to chase school meal arrears has ditched the policy.
  Scottish Renfrewshire Council had last year enlisted Sheriff Officers to chase hard up families over unpaid canteen bills. Officials initially denied the story before confirming it – but they have now abolished the practice after holding a review.
  A revised process with an emphasis on “pastoral support and helping families experiencing financ
  
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• Football Club facing liquidation unless buyer found

  22-02-2024 12:42 via ukdcnews.co.uk
  Well known Northern English Football club Rochdale FC are facing the very real prospect of liquidation as things stand.
  Rochdale currently sit mid-table in the National League and its not just on the field that they have being having problems.
  They need new investment by the end of March otherwise the National League club could face the prospect of liquidation, chairman Simon Gauge has warned.Rochdale were relegated from the English Football League last season after 102 years but have faced maj
  
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• Debt ridden TV Celebrity has horse seized by Bailiffs

  21-02-2024 11:17 via ukdcnews.co.uk
  
  Debt ridden TV celebrity Katie Price has been hit by another devastating blow amid her battle with bankruptcy, as her beloved horse has reportedly been taken away by bailiffs.
  The reality star already owes thousands of pounds in unpaid tax, and neighbours are now claiming her beloved steed Wallis has been taken away until she repays her debts.
  Katie purchased her horse for £250,000 back in 2009, and regularly shares snaps of him on social media.
  But neighbours claimed that t
  
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• Claims Management company closes suddenly due to large debts

  19-02-2024 09:29 via ukdcnews.co.uk
  
  A north west Claims Management company running financial mis-selling claims has closed, announcing on its website that cases have been transferred.
  The Law Gazette reported that Legal UK Services Ltd, based in Altrincham, told clients last week that it had appointed insolvency practitioners and would cease trading within weeks.
  That process appears to have been accelerated this week as the firm stated that all live cases had been transferred to neighbouring Cheval Legal.
  Legal UK Services has no
  
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• Could the Recession be good for Debt Collection?

  16-02-2024 12:49 via ukdcnews.co.uk
  
  Some people believe a recession is lucrative for the debt collection industry. With a recession comes more late payment of invoices and overdue accounts. On the face of it, people make the assumption that it is boom time for the debt collection sector.
  Contrary to popular belief, a recession does not bring any benefits to the debt collection sector at all usually. It certainly does not benefit the Business debt collection field and personal debt collection also becomes more challenging.
  A recess
  
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• London Mansions being seized as part of Debt Collection efforts

  15-02-2024 10:42 via ukdcnews.co.uk
  
  London mansions are being seized as part of measures to recover debts in London from bankrupt businessmen.
  A Kensington mansion has become the capital’s latest luxury property to go up for sale in insolvency proceedings as wealthy London homeowners face their assets being liquidated to pay down debts.
  The property on Queen’s Gate, near Hyde Park, is being sold by receivers for around $34m (£27m) alongside another house worth some $520,000 (£412,000) as part of bankru
  
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• Retail Insolvencies continue to rise in the UK

  14-02-2024 10:52 via ukdcnews.co.uk
  
  Retail Insolvencies are expected to continue to rise according to latest industry expert findings.
  Less than two months into 2024 and six UK retailers have already gone bust, with a further two warning they may fall into trouble, as experts warn the market will “continue to see an uptick in retail insolvencies”.
  According to figures from Centre of Retail Research, over 400 job roles have been impacted by retailers shutting up shop in light of the cost of living crisis and financial s
  
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• Huge rise in no fault evictions in 2023

  13-02-2024 08:55 via ukdcnews.co.uk
  
  Figures released in the past week by the Ministry of Justice showed that 9,457 households in England were evicted by bailiffs in 2023, compared to 6,399 in 2022.
  A total of 26,311 households have been removed from their homes since the government first promised to scrap no-fault evictions in 2019.
  The latest data also showed that a further 30,230 landlords in England started Section 21 eviction court proceedings in 2023, a rise of 28% in one year.
  Section 21 evictions allow landlords to evict te
  
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• 7% rise in UK Mortgage Arrears

  12-02-2024 07:39 via ukdcnews.co.uk
  
  Latest UK Finance data has indicated that homeowner mortgages in arrears rose by 7 per cent (93,680) in the final quarter of 2023 compared to the previous quarter.Buy-to-let mortgages in arrears also increased 18 per cent to 13,570 compared to the previous quarter.
  540 homeowner mortgaged properties were taken into possession in Q4, down 14 per cent on the previous quarter. 500 buy-to-let mortgaged properties were taken into possession in Q4, 11 per cent greater than the previous quarter.
  44 per
  
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• 15% increase in CCJs issued for last 3 months of 2023

  06-02-2024 15:29 via ukdcnews.co.uk
  
  The end of 2023 saw an increase in CCJs issued for unpaid debts for debts against consumers, businesses and small business debt.
  Read the full report issued from the Registry Trust here:
  The total number of commercial and consumer judgments registered in the British Isles in Q4 2023 was 243,448. This total number excludes England and Wales High Court Judgments, Scotland Ordinary Causes and Northern Ireland High Court Judgments.
  Comparing the same quarter last year there was a 15% increase. 
  
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• Solicitor jailed for stealing funds from Clients

  06-02-2024 13:10 via ukdcnews.co.uk
  
  A solicitor who admitted taking thousands of pounds from clients whilst acting as their power of attorney has been jailed.
  Alison Haley Griffiths, 55, pleaded guilty to two counts of fraud by abuse of position and was sentenced at Swindon Crown Court to 24 months’ imprisonment.
  Griffiths, who was practising in Swindon, stole around £49,000 over the course of more than two years from a 94-year-old woman over whom she had power of attorney. She transferred money from the victim&rs
  
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• Lisa Marie Presley’s daughter refusing to pay late mother’s UK Debt

  01-02-2024 11:27 via ukdcnews.co.uk
  
  Riley Keough is refusing to pay the debt on late mother Lisa Marie Presley’s U.K. home one year after her death.
  Keough, 34, pushed back on Barclays Bank’s request for her to pay an outstanding balance of approximately $1.6 million, per legal documents obtained by Us Weekly.
  Presley purchased her Coes Hall estate in Rotherfield, England, in 2010 with a loan from Barclays. The bank is now claiming that Presley personally guaranteed repayment before she died.
  Keough, who
  
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• Business Insolvencies at their highest since 1993

  31-01-2024 17:58 via ukdcnews.co.uk
  
  More businesses entered insolvency last year than at any point since 1993, as higher interest rates weigh on UK firms, official data shows.
  The Insolvency Service said 25,158 companies were declared insolvent last year, up from 22,123 in 2022.
  But the proportion of firms going bust was not as severe as during the 2008 global financial crisis, owing to more companies in existence, the government agency said.
  Oliver Collinge, a director at restructuring and insolvency firm, PKF GM, said: ‘Th
  
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• Big rise in Construction sector insolvencies

  30-01-2024 13:04 via ukdcnews.co.uk
  
  Latest data analysis by Mazars has found that on average a dozen construction firms are going bust every day after 4,370 firms collapsed last year.
  In the year to the end of November, 4,370 companies went insolvent compared to 4,086 in 2021/22 and 2,481 in 2020/21. This reflected a 7% increase in insolvencies from 2021/22 and 76% in 2020/21 due to high material and labour costs.
  The auditing company said that the increasing costs of borrowing have affected the profit margins of ongoing and upcom
  
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• TV Legend facing Bankruptcy due to unpaid HMRC Debt

  29-01-2024 08:44 via ukdcnews.co.uk
  
  TV Legend Bill Roache is facing bankruptcy for a second time.
  The 91-year-old actor – who has played Ken Barlow on ‘Coronation Street’ TV soap since 1960 – is the soap’s highest-paid cast member, earning around £250,000 a year but he’s facing financial ruin after HMRC filed a petition against him in London’s High Court earlier this week.
  A spokesperson said they wouldn’t comment on individual cases, but told the Daily Mirror newspaper: &ldquo
  
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• Energy Firms allowed to forcibly fit Prepayment meters again

  08-01-2024 17:01 via ukdcnews.co.uk
  Energy companies have been granted approval to resume force-fitting prepayment meters in people’s homes nearly a year after it was suspended.
  EDF, Octopus and Scottish Power can install the meters again after meeting various requirements set by Ofgem, the industry regulator.
  For years, energy companies were able to force-fit prepayment meters into homes when bills went unpaid.
  But agents for British Gas were exposed installing them inappropriately.
  They were forcing their way into the home
  
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• How to chase unpaid invoices: Expert guide for 2024

  04-01-2024 13:12 via ukdcnews.co.uk
  How to Chase Unpaid Invoices: An Expert Guide
  As a business owner, one of the most frustrating parts of running your own company is dealing with unpaid invoices. It can be incredibly time-consuming and stressful trying to chase down money that you are rightfully owed. However, it’s something that every business has to deal with at some point or another.
  How to chase unpaid invoices is a common question that comes up for many an Accountant, finance manager and so on. But what is the best st
  
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