Tag

In the collections industry, there’s always a balance to be struck between enabling creditors to receive the money due to them and helping debtors to get back on their own two feet. That’s a point made in an editor’s letter in CCR Magazine that suggests one obstacle to this is the cost to individuals of entering bankruptcy (remembering that companies in trouble go into liquidation, a different process). It followed n

In my business of debt collection, I talk to a lot of people. And owners and managers of small- and medium-sized business are telling me they are not convinced by the official statistics showing that the UK economy is in recovery. There is, appropriately enough in this season of witches and werewolves and things that go bump in the night, a fear of what even a small rise in interest rates will mean for the thousands

The governor of the Bank of England, Mark Carney, is clearly intent on keeping interest rates at their current low of 0.5% for as long as possible. Waiting until unemployment drops below 7% may delay an increase until 2016 or, at the market-predicted earliest, the first quarter of 2015. That’s good news for house buyers and some reassurance to people using individual voluntary arrangements or debt management plans to

Business secretary Vince Cable has announced proposals to improve corporate transparency and make reckless directors more accountable for their actions. The idea is that by improving confidence in the UK as a place to do business, investors will pile in and boost the economic recovery. Shining a light on opaque corporate structures is part of a commitment made at a recent meeting of the G8 countries to establish a ce

How can directors ensure they do not get in hot water if their company is facing financial difficulty? When a company is solvent a director’s duty is to “promote the success of the company.”  But what if the company is insolvent?  Writes Jamie Playford, a director and licensed insolvency practitioner with Parker Andrews Ltd. It is important that a director understands what “insolvent” means. The Insolvency Act 1986 c