3 Nov 2022 / Back to latest updates

Interest Rates continuing to rise with the UK now facing a two-year recession

Today the Bank of England has further increased the base rate from 2.25% to 3% – the biggest hike since 1989.

With inflation at its highest for 40 years it is now forecast that the UK is facing a “very challenging” two-year recession.

The present economic climate is very clearly not going to improve anytime soon with debtor companies continuing to fail and as a result of which also their creditors in light of outstanding monies not be recovered or becoming irrecoverable. It is imperative monies are received as they fall due, being the lifeblood of any business.

We are experts in the field of Debt Recovery with our team at Devonshires being ranked within tier one of the Legal 500 for the past three years.

Should you require assistance in recovering monies due to you do not hesitate to contact us.