Displaying items by tag: Debt Recovery

Have you heard the one about the Croydon conman who paid for his shopping in Harrods with a £245,000 dud cheque?

It's no joke - 49-year-old Philip Buffett of Fairfield Road faces a jail term for fraud after paying with a cheque from a closed account for goods including a £183,000 Hublot watch.

Published in Debt Collection

Superman is BACK with the cinematic release of Man of Steel, and it got us to thinking about whether or not the Kryptonian comicbook hero would be a worthy addition to the Safe Collections team.

We know he'd be a bit unpredictable - always nipping off into the nearest phone booth or flying off to save the world - but given that he'd be saving our skins in the process, we're willing to make some allowances.

Published in Debt Collection

SMEs in the north-east are stop-gapping their cash flow problems by turning to pawnbrokers, according to a report in local news publication The Journal.

With bank lending hard to come by and many other conventional forms of finance also suffering during the downturn, sole traders and SMEs are taking desperate measures to cover costs.

Published in Debt Collection

As a fully licensed debt collection company that has been incorporated since 1984, we have a long history in providing advice on how to choose an ethical and trustworthy debt collection partner. But unfortunately sometimes this message doesn't get through to those that really need it and many businesses up and down the country can find themselves unwittingly in bed with unlicensed, unregulated and unethical 'debt recovery' companies.

Published in Debt Collection

Remember Dodgy Dave, the debt collector you don't want to meet? Well, we described that article as "a work of fiction" but warned "this kind of person is out there".

Now it seems Slippery Stu - or, to use his real name, Stuart Paul Cooper - is a real-world example of the kinds of debt collecting 'methods' we outlined in our Dodgy Dave article.

Published in Debt Collection

The Daily and Sunday Telegraph have launched a series of articles reporting on late payments - and on the battle lines being drawn by those affected by and involved in settling overdue invoices.

In a Daily Telegraph report, for instance, Steve Sutherland - owner of architectural glazing specialist Dortech - is described as "putting his tin hat on" amid fears of a backlash from customers after he called time on a 13-year relationship with construction brand Balfour Beatty.

Published in Debt Collection

Insolvency turns £4.7bn of non-payers into never-payers

Each year, £4.7 billion of unpaid invoices in the UK are simply wiped away by insolvency and winding-up procedures, according to an Experian report.

From the smallest 'micro firms' to the biggest brands, when a company leaves the market completely by going out of business, the rest of the supply chain is likely to feel at least some impact not just in terms of lost custom, but by going unpaid for work already done.

Published in Debt Collection

Small to medium-sized enterprises (SMEs) are struggling to tackle late payments from clients who, in the worst instances, miss three or more invoices per year.

Almost half (47%) of SMEs surveyed by Barclays said that their least reliable customers fail to pay on time at least three times each year.

Published in Debt Collection

A Christmas Collection

The payment was late: to begin with. There is no doubt whatever about that. This must be distinctly understood, or nothing wonderful can come of this story I am going to relate.

Once upon a time - of all the good days in the year, on Christmas Eve - old Scrooge sat busy counting his unpaid invoices.

Published in Debt Collection

The Prompt Payment Code and the Supply Chain Finance Scheme - what's going on?

The current economy is turbulent enough, without seemingly conflicting schemes being launched to help businesses with credit control and late payment.

But in recent weeks, both the Prompt Payment Code and the Supply Chain Finance Scheme have been making headlines for companies with slow-to-pay clients.

Published in Debt Collection
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