Running a business is hard enough without getting paid for your work. As anyone who’s ever done it can tell you, when another business, even one that’s a limited company, fails to pay what it owes, it causes chaos, affecting everything from your payroll to your profits. For many, it isn’t only a matter of…
The Court of Appeal has released a decision on costs on the Petrofac appeal, ordering Petrofac to pay £2 million to dissenting creditors Saipem and Samsung. The Court of Appeal overturned the High Court’s sanction of Petrofac’s restructuring plan, finding in favour of Saipem and Samsung on the basis that plan benefits were not fairly…
It’s a question that many businesses ask themselves, especially when a customer or client hasn’t paid on time – can a debt recovery agency take you to court, to collect the debt? If you’re doing business in the business-to-business (B2B) market, you will have your hands full chasing up invoices and even dealing with the…
Unpaid accounts mean slow cash flow, added pressure to your accounts team and potential damage to your business relationships. If you’re wondering, “How do I collect on a debt from a business?”, you’re not alone. Whether you’re chasing a small amount on an unpaid invoice or a big-ticket client who refuses to return calls, being…
Unfortunately, when it comes to business-to-business (B2B) transactions, late payments and unpaid invoices are par for the course. But in the pursuit of unpaid debts, time is not just money; it’s the law: the 6-year rule for debt recovery in the UK. Here’s the thing: one rule that every business owner should know is the…
As a debt collection agency, we’re familiar with the common challenges businesses face when trying to recover debt, from the length of time to recover, to assessing the debtor’s ability to pay. One significant challenge is when the client has not completed the correct due diligence when offering credit, which can lead to bad debt,…
Principal Sum Recovered: £54,308.47Costs and Interest recovered: £6005.38Total Recovered: £60,313.85 Debt Collect UK were contacted by a long standing client who run a food & drink distribution business. They had supplied goods to a good client of theirs totalling £54,308.47. They had a very good relationship with their client and they had always paid them…
The cancellation of the High-Speed 2 (HS2) railway project has sent shockwaves through the United Kingdom, especially in the North. HS2 was touted as a game-changer for businesses in the North, promising to improve connectivity, boost economic growth, and create thousands of jobs. However, as plans for HS2 have been scrapped, it’s important to examine…
For most companies in the UK Debt Recovery can be a challenging, frustrating and very time consuming process, especially when a company’s efforts to collect their unpaid debts may have not produced good results, and their staff have been pursuing debts when they could have been assigned other tasks. In these types of scenarios enlisting…
Winding Up Petitions are the most aggressive form of litigation and Debt Recovery in the UK. The world of business, finance and offering credit can be complicated one, and a Winding Up Petition can send the shivers down the spine of Company Directors and Stakeholders who may not be in the fortunate position to pay…
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