• Courts close rogue Debt Collection Agency

    Courts close rogue Debt Collection Agency
    The High Court has shut down a rogue Debt Collection Agency it has emerged. The Debt Collection Agency that claimed to be able to collect debts from liquidated companies was wound up at the request of the insolvency service.
    Global Investigations and Recoveries Ltd would contact creditors of liquidated companies. They would offer to collect from liquidated company directors ‘personally’ which is contrary to UK insolvency law. It is believed this ‘gave hope’ to many compan
  • Builder wrecks customers house over Unpaid Invoice

    Builder wrecks customers house over Unpaid Invoice
    A Builder took extreme action when a customer refused to settle an unpaid invoice. Frustration over an ongoing dispute over an unsettled bill caused a builder to take action into his own hands.The house after it was partially demolished. Credit: BPM Media
    Works were ordered by a house owner in a affluent part of Leicester were the average house price exceeds £540,000. Whilst the home owner has been on holiday, the disgruntled builder decided to ‘undo’ all the work he had done s
  • Scam Debt Collection Agency Owner receives lengthy Jail sentence

    Scam Debt Collection Agency Owner receives lengthy Jail sentence
    A Scam Debt Collection Agency Boss has been sent to prison for 4 years and 10 months. The Dodgy Debt Collector took cash payments from clients to help recover money but did so with no intention of collecting what they were owed.
    Debt Collector Robert Thomas Cree from the North East of England was found guilty in Newcastle Crown Court of two counts of Fraudulent trading and one count of perverting the course of justice.
    Dodgy Debt Collection Agencies
    The Courts heard how Robert Cree ran a number
  • Company Insolvencies continue to decrease

    Company Insolvencies continue to decrease
    The latest figures provided by the Insolvency Service have indicated a further 22% reduction in Company insolvency rates across England and Wales.
    The figures show that business insolvencies fell by 7.2% to 925 in April 2021 compared to March’s figure of 997, and fell by 22.9% compared to April 2020’s figure (1,199).
    In April 2021 there was a total of 925 registered business insolvencies, comprised of 819 CVLs, 26 compulsory liquidations, 75 administrations and 5 CVAs. Ther
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  • Insolvency Service given new powers to tackle Dodgy Directors

    Insolvency Service given new powers to tackle Dodgy Directors
    The Insolvency Service will be given powers to tackle the problem of Dodgy Directors. They will investigate directors of companies that have been dissolved. The objective will be to close a legal loophole and provide strong deterrent against abuse of the dissolution process.
    The process will no longer be able to be used as a method of fraudulently avoiding repayment of Government-backed loans given to businesses to support them during the Coronavirus pandemic
    Extension of the power to investigat
  • PM’s Unpaid CCJ embarrassment

    PM’s Unpaid CCJ embarrassment
    UK’s Prime Minister Boris Johnson has hit the National Headlines due to an Unpaid CCJ. The CCJ was issued for an unpaid £535 Debt but has still not been paid six months on.
    The information obtained by current affairs magazine Private Eye, shows the unpaid CCJ in the register. It was made via money claims online and the address used in the particulars of claim was 10 Downing Street.
    The claimant has not been named in the news story and HM Courts and Tribunals service Officials have to
  • University calls in Private Debt Collectors for help

    University calls in Private Debt Collectors for help
    Bristol University is reported to be turning to a Private Debt Collection Agency for help. The University of Bristol has called in Private Debt collectors to help recover unpaid rent from students that have been on ‘rent strike’.
    The university’s standard procedure for unpaid debts is to pass any on the third party private debt collectors after 12 months. Supposedly, student on the ‘rent strike’ will have their accounts passed on after only 7 months as the Universit
  • Latest Insolvency statistics released for 2021

    Latest Insolvency statistics released for 2021
    The latest insolvency statistics have been released for Q1 2021 by the insolvency service. These provides England & Wales corporate and individual insolvency statistics, which were released yesterday. Commenting on these latest insolvency statistics is Eleanor Temple of Insolvency trade body R3.
    CorporateThere were 2,384 seasonally adjusted corporate insolvencies in Q1 2021, a reduction of 21.9% compared to Q4 2020’s figures of 3,053 and a fall of 38.3% compared to Q1 2020 (3,863).&ldq
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  • When is it time to hire a Debt Collection Agency?

    When is it time to hire a Debt Collection Agency?
    The UK’s SME Businesses are suffering as a result of late payments. Covid-19 has fuelled the problem and many small businesses and medium sized enterprises are facing going bust.
    So when is it time for SME Owners to act? At what point do Business owners say ‘enough is enough’.  The pandemic has caused many Small Business owners to avoid pushing for payment. That is pretty understandable given the past turbulent 12 months.
    Not getting invoices paid on time becomes a two-fol
  • Late Payments hampering Small Business recovery

    Late Payments hampering Small Business recovery
    Small Business late payment is severely hampering recovery from the pandemic according to new data. Delayed payment of invoices owed to SME’s over the past 12 months totals a shocking average of £130,445.05
    Whilst late payment continues, this will only serve to hinder Small Business recovery in the second half of this year. The latest findings are according to survey data from Dun & Bradstreet.
    The survey polled 753 small businesses and SME’s in the UK. The data found that
  • Company Directors banned for trading whilst insolvent

    Company Directors banned for trading whilst insolvent
    Three Directors of a Finance firm have been banned for trading whilst insolvent. Their actions caused their company to take money from its clients and make payments to themselves despite the company being insolvent.
    Independent Derivative Traders Ltd traded as Futex. They provided access to a financial markets trading platform for sub contracted independent traders in the UK.
    The directors of the company were Paul Rossi, his brother Mark Rossi and Daniel Goldberg. The company was incorporated in
  • People in debt could get two month ‘breathing space’

    People in debt could get two month ‘breathing space’
    People who are in debt from credit cards, loans and other personal debt sources could be given ‘breathing space’ under new temporary measures the government has announced.
    The Debt respite scheme has been launched to help protect debtors in relation to a number of personal debts which include personal financial agreements and rent obligations.
    During the current pandemic, debt charity Stepchange has warned of a impending “personal debt tsunami” of £6Bn.
    It is said t
  • Debt ridden Football Club described as ‘hopelessly insolvent’

    Debt ridden Football Club described as ‘hopelessly insolvent’
    A judge has heard how a English Professional Football Club is described as “hopelessly insolvent” at a high court hearing over a ownership dispute.
    The comments came as desperate attempts to save Swindon Town Football Club entered a new chapter.
    At the High Court, a judge was told the League One side would need £2.8m cash in the four months to the end of June and had last month taken a loan from the football league to help pay the club’s wage bill.
    In the latest wrangling
  • Business Insolvency statistics defying gravity

    Business Insolvency statistics defying gravity
    Business insolvency statistics continue to defy gravity in the UK. Whilst this maybe viewed as positive news, the IVA increase shows that personal finances are beginning to take a hit.
    Insolvency statistics recently released by the Government’s Insolvency Service show a 20% drop in corporate insolvencies compared to March last year, and a 37% drop compared to March 2019.
    Conversely, Individual Voluntary Arrangements (IVAs), used by individuals in personal financial difficulty, were up 24%
  • Council creates new Debt Collection service

    Council creates new Debt Collection service
    A new debt collection service has been launched by Barking & Dagenham Council. The Debt Collection service has been launched to reduce the need for enforcement action.
    The new debt collection agency will be known as ‘Beacontree collections’ and will cater for council owed debts only. It started its new life on April 12th and it is hoped it will help drive up engagement and be more compassionate.
    The council had previously relied on enforcement to collect unpaid council tax. The i
  • 48% of Businesses see increase in late payments

    48% of Businesses see increase in late payments
    New data captured has shown that 48% of Businesses have seen an increase in late payment. Clear evidence that the pandemic is fuelling a continual problem that blights trade.
    The New data supplied from cloud-based credit management platform, Know-it highlights that late payments remain an ever-present challenge for business owners. Late payments damage cash flow, restrict growth and can even present insolvency risks.
    For many UK Businesses, survival through the remainder of the pandemic is relia
  • Kofax AP Agility Digitally Transforms Accounts Payable Processes

    Kofax AP Agility Digitally Transforms Accounts Payable Processes
    Next-Generation Accounts Payable Automation Solution Enables Resiliency and Agility London, U.K. – April 13, 2021 – Kofax®, a leading supplier of Intelligent Automation software for digital workflow transformation, today announces the latest version of Kofax AP Agility®, a world-class artificial intelligence (AI) powered solution providing organisations with the most comprehensive capabilities in the market to digitally transform accounts payable processes. AP Agility provide
  • 60% of Private Landlords owed rent arrears

    60% of Private Landlords owed rent arrears
    Data from the National Residential Landlords Association has revealed that a massive 60% of Private Landlords are owed money due to rent arrears.
    Roughly 840,000 tenants in the Uk have fallen into arrears according to data from the National Residential Landlords Association (NRLA)
    The NRLA says with currently no eviction action possible against them, accrued debts are increasing. Many of which will get to the point where there is little hope of the tenants paying them back.
    The landlord’s
  • Dodgy Company Directors disqualified by Insolvency service

    Dodgy Company Directors disqualified by Insolvency service
    Two rogue property directors who abused millions of investor funds and a scaffolder who disposed of assets prior to bankruptcy have been banned by the Insolvency Service.
    Sanjiv Varma (57) and Jonathan England (48), both directors of property firm Grosvenor Property Developers Ltd, were banned for a total of 25 years after abusing £7.7 million taken from investors for student accommodation never completed.
    The company sold student accommodation in Bristol off-plan
  • HMRC facing £65bn Debt Collection challenge

    HMRC facing £65bn Debt Collection challenge
    The HMRC is now facing its biggest debt collection challenge in history. Debt owed to the HMRC from UK Businesses and tax payers has now trebled to reach £65.5bn from £19.3bn in 2019.
    An estimated £26.6bn of that debt is sufficiently in arrears to allow it to be subject to immediate HMRC debt collection action.
    Reflecting concerns about fraudulent claims for coronavirus support £35bn of the total outstanding debt is in relation to emergency coronavirus support policies su
  • Zylpha Appoints Rachel Kitson To Drive Technical Sales

    Zylpha Appoints Rachel Kitson To Drive Technical Sales
    Leading legal systems innovator Zylpha (www.zylpha.com) has appointed Rachel Kitson as Technical Sales Consultant for its ‘Pay As You Go’ document bundling system. Since it’s launch, the market leading technology has brought professional document bundling within the reach of all law firms regardless of their size. Previously Rachel, a Physics graduate and fluent Welsh speaker, worked in a number of senior sales positions, most recently in Construction. In her new role, Rachel w
  • New clampdown on rogue car parking firms

    New clampdown on rogue car parking firms
    Private Parking firms are facing a government clampdown on rogue practices. Parking companies will be banned from issuing fines for minor misdemeanours such as entering registration plates wrong.
    Parking companies will also be forced to implement new appeals systems and quash tickets that have been “unfairly” issued. This will include scenarios where paper tickets have slipped off the windscreen and suchlike.
    Mitigating circumstances for lateness etc will also have to be considered i
  • Small Businesses in distress number triples

    Small Businesses in distress number triples
    New data released by Accountancy firm Mazars has shown a worrying rise in the amount of UK Small Businesses in financial distress. Over 135,000 Companies were shown to be suffering from financial strain this month, treble the pre pandemic average.
    Retail and service Businesses are the hardest hit. Almost 60% of Businesses in these sectors are the hardest hit. Sectors that have been allowed to ‘reopen’ have been showing signs of improvement. Construction companies make up 7.9% of the
  • New Small Business Commissioner urged to tackle late payments

    New Small Business Commissioner urged to tackle late payments
    Uk Sole traders group IPSE has called upon the new Small Business Commissioner Liz Barclay to take a tougher approach to late payments. IPSE has claimed the issue has become worse during the covid-19 pandemic.
    Research by IPSE (the Association of Independent Professionals and the Self-Employed) has shown that over a third of freelancers (36%) have been affected by an increase in late payments during the pandemic.
    The problem of the self employed not been paid has always been a problem.
    It also f
  • Bluebird's Outsourced E-Bundling Takes Off With Zylpha

    Bluebird's Outsourced E-Bundling Takes Off With Zylpha
    Leading legal outsource company, Bluebird Support Services, has chosen Zylpha (www.zylpha.com) software for its e-bundling service to clients. Alongside the company’s secretarial and administrative services, the demand for outsource e-bundling facilities has grown exponentially - as more practice staff work from home and as more courts accept electronic files. The Bluebird service is also ideal for busy practices or for those where a rapid turnaround is essential. Zylpha was chosen as it i
  • Public rallies to save Debt ridden Railway

    Public rallies to save Debt ridden Railway
    News that the popular Welsh Llangollen railway has had to call in the receivers has been met with a wave of public support since it was announced. The North Wales tourist attraction had been suffering as a huge losses as a result of the Covid-19 lockdowns.From celebrities to politicians, a huge amount of messages of support for the tourist attraction have come in from across the UK and even overseas.
    A donations page was created on the steam railways website was created to try and save the estab
  • Debt Collection notices helped reveal Employee’s £1.7m scam

    Debt Collection notices helped reveal Employee’s £1.7m scam
    When Company Bosses at a Scunthorpe based Business started receiving Commercial Debt Collection Agency letters alarm bells rang. Shortly after they found that one of their employees was stealing from the business on a massive scale.
    Disgraced Company secretary Lisa Crawshaw was found guilty in Grimsby Crown Court and sentenced to five years in prison for fraud. She single handedly destroyed trucking firm C&C transport by stealing £1.7m over a five year period.
    The Business owners disco
  • City Council writes off £7.26m after Debt Collection efforts fail

    City Council writes off £7.26m after Debt Collection efforts fail
    Edinburgh City Council has been forced to write off a whopping £7.26m after Debt Collection efforts have failed to recoup monies owed to them.
    The accumulated debts were for unpaid parking fines, council tax and motorist bus lane abuse fines.
    Over 17,000 fixed penalty notices issued by the council went unpaid. Add to this 3,200 fines accrued by motorists abusing the strict bus lane policy adopted by the city council.
    The most common reason for non payment of the vehicle fines were the debt
  • Insolvency service payouts hit new levels

    Insolvency service payouts hit new levels
    The Insolvency Service paid out £453.4 million in missing wages and benefits to workers at firms that went bust last year. This is according to new data obtained.
    The payments made by the agency, which is part of the Department for Business, Energy and Industrial Strategy (BEIS), were at the highest levels in a decade although the various company lifelines provided by the Chancellor meant the number of firms going insolvent fell.A total of £297.5 million was paid out in redundancy pa
  • Average Unpaid Small Business Debts rise by £173k

    Average Unpaid Small Business Debts rise by £173k
    New research from Sage, has highlighted the impact of the Covid-19 pandemic with the average SME business now burdened with £173,000 additional debt per year.
    Ahead of the UK’s 2021 Budget and Economic Recovery Plan, the research highlights the tough conditions that will be facing small and medium-sized businesses (SMEs) well into the second half of 2021. The research highlights how the latest lockdown has further divided the outlook of UK SMEs, with one-third worse off than November
  • Covid Loan Debt Collection talks hit brick wall

    Covid Loan Debt Collection talks hit brick wall
    Plans to create a Nationwide Debt Collection service to recoup unpaid covid Business support loans have hit a brick wall according to latest reports.
    £45 Billion pounds have been lent to Small Businesses to help them through the pandemic over the last year by UK banks.
    In total 1.47m loans were issued by Commercial Lenders with a government guarantee. The programme will see recipients start to pay 2.5% interest from May.
    Lobby Group Uk Finance had been heading discussions on a shared solut
  • USU Adds Deseret First Credit Union to Growing Customer Roster

    USU Adds Deseret First Credit Union to Growing Customer Roster
    12-branch Utah-based credit union selects USU Knowledge Management solution to meet dynamic customer service demands Boston, February 11, 2021. USU, a leading provider of business knowledge management solutions, announces a new contract with Deseret First Credit Union (DFCU). Founded in 1955, DFCU chose USU Knowledge Management over competitor solutions built specifically for credit union usage. Deseret First needed a way to organize its documentation: from employee manuals and sales content to
  • Miranda Evans Appointed As Marketing Manager For Zylpha's 'Pay As You Bundle' Software

    Miranda Evans Appointed As Marketing Manager For Zylpha's 'Pay As You Bundle' Software
    Zylpha (www.zylpha.com) has appointed Miranda Evans as Marketing Manager for its widely acclaimed ‘Pay As You Go’ document bundling software. The move reflects the software’s recent sales success as the market leading choice for law firms and practices of all sizes, including: Dovaston Law, Bell Lamb & Johnson, Joanna Connolly Solicitors, Mulcahy Smith and Allard Bailey Family Law. In her new role, Miranda will seek to build upon this success through a broad range of...Sour
  • Drop in UK Business Insolvencies masking a grim reality

    Drop in UK Business Insolvencies masking a grim reality
    According to latest figures, Corporate and Business Insolvencies fell by 27.1% for 2020 in England and Wales. Unfortunately the statistics do not tell the whole story as many businesses in the UK are in distressed situations.
    There is a huge pile up of unpaid invoices in the UK with Small Businesses and organisations afraid to act. Many companies are simply waiting for ‘normal’ to return but nobody can actually forecast when that will be.
    Leading B2B Debt Collection Experts Federal M
  • Covid-19 continues to increase Business late payment

    Covid-19 continues to increase Business late payment
    The coronavirus pandemic has exacerbated Business late payments for UK businesses, new figures from the Institute of Directors reveal.
    Over a third of company directors were polled by the IoD. They said they had faced an increase in late payments during the pandemic. Almost one in ten directors reported that they had experienced significantly more problems than usual.
    The directors’ institute has warned that the challenge could worsen as restrictions continue.
    To help solve the problem, Co
  • Zylpha Survey: Electronic Document Bundling Helps Practices To Mitigate The Business Impact Of ‘Working From Home’ In A Pandemic

    Zylpha Survey: Electronic Document Bundling Helps Practices To Mitigate The Business Impact Of ‘Working From Home’ In A Pandemic
    Zylpha’s annual ‘legaltech’ survey has revealed that in supporting practice staff’s ability to work from home continuously, Legal Document Bundling technology has helped many law firms to follow government WFH (Work From Home) guidelines. In doing so, it has enabled practices to mitigate much of the business impact of the pandemic. The survey which was based on a user sample from 23 UK legal practices revealed that 78% of those questioned felt that Covid-19 has...Source:
  • 630,000 UK Companies facing Insolvency

    630,000 UK Companies facing Insolvency
    Around 630,000 businesses were experiencing significant financial distress in the last quarter of 2020, ahead of the current lockdown, according to research by the restructuring firm Begbies Traynor.
    The latest research for Q4 2020 recorded the largest numerical quarterly leap (73,000) in financially distressed companies since Q2 2017. This 13% increase (from 557,000 in Q3 2020) comes as the UK is plunged into another nationwide lockdown.
    This newly published research from Begbies Traynor also f
  • Leading Galway Family Law Solicitor Chooses Zylpha For Document Bundling

    Leading Galway Family Law Solicitor Chooses Zylpha For Document Bundling
    Galway based Manifold Solicitors has chosen market leading bundling software from Zylpha (www.zylpha.com). The practice will use the software in conjunction with its LEAP case management systems. By using Zylpha, the time taken to produce document bundles is reduced by up to 80%, enabling more time to be spent with clients. Manifold Solicitors practices family law exclusively, offering a comprehensive service based on its very particular skill set and focus. High quality client care is...Source:
  • Amsterdam Trade Bank provides EUR 40 mn debt funding for creditshelf platform

    Amsterdam Trade Bank provides EUR 40 mn debt funding for creditshelf platform
    Important expansion of debt financing base on the creditshelf platform Additional strategic investor uses creditshelf's lending platform as powerful access tool to the German market for SME loans Debt capital of EUR 40 mn from the collaboration enables creditshelf to meet loan demand from German SMEs even more efficiently Frankfurt am Main, Germany, January 19, 2021 ‒ creditshelf Aktiengesellschaft, the leading credit platform for digital SME finance in Germany, expands its investor base a
  • Zylpha Launches Latest Pay As You Bundle Version In Recognition of Its First 250 LEAP Customers

    Zylpha Launches Latest Pay As You Bundle Version In Recognition of Its First 250 LEAP Customers
    Zylpha (www.zylpha.com) has announced a significant new version of its widely acclaimed ‘Pay As You Go’ integration for LEAP’s practice management software (www.leap.co.uk). This new version builds on the success of Zylpha’s original LEAP integration, which has already secured 250 users including: Dovaston Law, Bell Lamb & Johnson, Joanna Connolly Solicitors and Mulcahy Smith. With Zylpha’s prices now starting at just £45 per bundle, legal document bundlin
  • Millions of pounds going unpaid in rent arrears

    Millions of pounds going unpaid in rent arrears
    is is now estimated that over Half a million private renters in the UK are behind on their rent. This information is according to new analysis by Citizens Advice.
    With a temporary ban on evictions due to expire this weekend,  the news comes as the country enters another period of national lockdown. The new lockdown is causing further economic hardship the charity reports.
    Private Renters have already been affected by the economic consequences of the pandemic with one in three private renter
  • Watchdog asks for help with Debt Collection guidance

    Watchdog asks for help with Debt Collection guidance
    The Financial conduct authority has asked banks, lenders and debt collectors for advice on how to deal with the fall out from emergency Covid-19 loans given out during the pandemic.
    The FCA is preparing new guidance on how they can help businesses that took out emergency loans during the COVID-19 crisis. The guidance is intended to assist those that may struggle to make repayments.
    The Financial Conduct Authority said on Friday that it is consulting on new guidance that will instruct f
  • Top Legal firm warns of Insolvency tsunami

    Top Legal firm warns of Insolvency tsunami
    A Top 100 Law firm has warned of a possible tidal wave of insolvencies in Spring 2021 which risks paralysing the UK’s courts system.
    Manchester based JMW Solicitor’s analysis shows that corporate insolvencies adown circa 42% year-on-year in October 2020;  whilst Creditor Voluntary Liquidations, are down 36%, there is a decrease of 76% for Compulsory Liquidations and a decrease of 35% for Administrations.
    Simultaneously, the ONS estimated up to 63% of businesses are at risk of in
  • HMRC spent £84m on Debt Collection over three year period

    HMRC spent £84m on Debt Collection over three year period
    Recent reports have revealed that the HMRC has spent more than £84m on using Private Debt Collectors in the three tax years up to 2019-2020.
    When tax bills go unpaid, the HMRC has the option to utilise external private debt collection agencies to help chase the debts on behalf of the crown. Companies then start dunning and chase individuals that have outstanding tax liabilities.
    The HMRC uses a number of Debt Collection Agencies on its behalf. When the matter is passed over to the agency,
  • One Million Self Employed pushed into debt due to Covid late payments

    One Million Self Employed pushed into debt due to Covid late payments
    Over a million self employed freelancers have gone into debt since the pandemic began due to late payment. This startling revelation was detailed in a report released by the IPSE (The association of independent professionals and the self employed) along with digital bank starling.
    Research was undertaken by the parties to assess the major impact covid-19 has had on the UK’s self employed sector. The research found that 23% of freelancers have had to get a credit card to help with their fin
  • Sheffield Council accidently sends 1,600 Debt Collection letters

    Sheffield Council accidently sends 1,600 Debt Collection letters
    A council mistakenly sent more than 1,600 “alarming” debt collection letters to allotment holders.
    Sheffield Council said the error happened because it employed a debt recovery agency to help with a backlog of fines on hold since March.
    It admitted the plan backfired after people were panicked by the debt agency headed letters.
    Councillor Terry Fox has now “personally apologised” for the distress and worry caused.
    Altogether, 1,639 letters were sent from debt recovery age
  • ebankIT promotes a webinar on the future of banks

    ebankIT promotes a webinar on the future of banks
    ebankIT promotes the discussion of building ecosystems as a way to deal with change and the new times that are approaching Porto, November 18, 2020 – ebankIT, an international company that develops an omnichannel digital banking platform, promotes on November 19th at 3 pm together with unblu, MiTek and ITSCREDIT, a webinar entitled: “Building Ecosystems: how to accelerate the future of banks”. Registration available at https://resources.ebankIT.com/webinar-building-ecosystems.
  • Why ‘Free Debt Collection’ can cost too much

    Why ‘Free Debt Collection’ can cost too much
    We are all familiar with the terms No win no fee debt collection or free debt collection but what is the real story here. Seemingly ‘cheap’ debt collection services are not always the way to go as it could cost you a lot more than you think.
    The UK is in the latter end of a unprecedented pandemic that has forced a recession. When recession happens or cash flow is significantly reduced, companies are naturally looking for a way to spend ‘less’ money.
    It is 2020 and history
  • B2B Payments taking Covid hit on a global scale

    B2B Payments taking Covid hit on a global scale
    Delayed payments continue to plague suppliers, particularly smaller players, and unfortunately, the global pandemic has only worsened this pain point. This week’s B2B Data Digest looks at the latest stats in the fight against late payments, and finds several instances in which the COVID-19 crisis has exacerbated the late payments problem.
    25 companies surveyed in the denim supply chain have revealed “destructive” behaviors from their corporate clients, according to a 
  • 1 in 6 invoices being paid late according to survey

    1 in 6 invoices being paid late according to survey
    1 in 6 Small Business invoices is being paid late according to latest findings in a report conducted by a Business banking company across the UK.
    ‘Tide’ commissioned YouGov to survey small business decision makers, including sole traders, to discover their payment terms, how often they experience late payments, and the actual duration before invoices were settled.
    Tide calculated that the average payment term was 15 days. However, approximately 1 in every 6 (16%) invoices are paid la

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