All too often customers do not make payment on time meaning you have to spend valuable time chasing. We can do that for you. The quantity of overdue invoices continues to have a negative effect on UK businesses and the economy as a whole. According to Natwest last year one in five businesses was owed […]

The Debt Collection Centre (#tdcc) can only reiterate that the economy shows signs of improvement following the thoughts of Phillip Sykes, president of R3, the insolvency trade body, in respect of the quarterly insolvency statistics (for July-September 2015) published by the Insolvency Service on 29 October 2015; Personal insolvencies “Personal insolvencies have generally been falling […]

The Debt Collection Centre (#tdcc) comments that it is good to see both company and personal insolvency continues to decline as per the statistics release from the Insolvency Service. The number of company insolvencies in England and Wales continued to decrease. This decrease was mainly driven by a decrease in compulsory liquidations, which fell to […]

On 1 October 2015, the minimum debt for which a creditor could issue bankruptcy proceedings against a debtor was raised from £750 to £5,000. The £750 threshold was fixed in 1986 and did not move with inflation which would have seen it rise to approximately £1,700. Whilst it has been acknowledged for some time now […]

Since 2002 it has been a statutory right for suppliers to charge interest on overdue invoices at the rate of 8% above a reference rate based on the Bank of England base rate, together with a late payment fee. Since 2013 the rules were updated meaning you can also now claim ‘reasonable’ recovery costs from […]