Night of the Living Debt

Night of the Living Debt as 'Zombie Businesses' take over the UK!

Watch your backs people - there's a zombie revolution taking place, and the bloodthirsty brutes have got a taste for your money.

R3, the Association of Business Recovery Professionals, says there are already 146,000 'zombie businesses' out there, including much of the retail sector, leaving Britain's high streets looking like something out of a horror movie, financially speaking.

Should I Just Keep Chasing Payments?

Gloomy news from the Forum of Private Business in recent weeks, as FTSE 100 companies are again being urged to abolish the late payments culture by settling their invoices on time, and banks are again being urged to lend more to cash-strapped small businesses.

In an ongoing climate of tight availability of finance in all its forms, and with outstanding invoices totaling tens of billions of pounds, it can be easy to wonder what's the point in chasing payments?

USA Debt Collection - Court Witnesses

In part two of our series on Debt Recovery in the USA our American Debt Collection agent outlined the 10 questions any creditor must ask prior to taking a claim to court in the USA. Whilst many of the points raised in this piece are not entirely dissimilar to the questions any creditor should ask before pursuing legal action, one critical point is often overlooked.

If your company is considering taking legal action in the USA to recover unpaid invoices, you will be expected to provide at least one witness at trial. Our US affiliate explains:

Local Authority Late Payment Postcode Lottery

Many businesses that work with local authorities are facing a 'postcode lottery' to determine whether their accounts are settled on time, or whether they must deal with late payments from their council customers, says the Forum of Private Business.

The claim is significant because, back in 2008, the government called for councils to pay their suppliers' invoices in no more than ten days - a way to keep small businesses' cashflow healthy, as well as to ensure liquidity within the wider economy as a whole.

£64bn in capital held up by late payment

Late payments to creditors by UK PLC’s are being used to add to the working capital companies have at their disposal, according to a new report from Deloitte.

The professional services provider has analysed the working capital performance of 20,800 companies with global operations over the past five years, enabling it to compile a £64 billion estimate of excess working capital in the UK - a rise of £3 billion since 2010.

© Safe Collections is a trading name of Safe Collections Limited. Incorporated 1984. Company Number: 01815264. VAT Number: GB407358159. All Rights Reserved.