Interest rates have now risen to 0.25%, up from 0.1%, for the first time in three years and the fastest rise in 10 years. With interest rates recently pushed up by the Bank of England it is critical that we understand how these changes will affect...
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Imagine having a crystal ball and seeing which customers are not going to pay you on time before you run into the problems late payments cause. By tuning into your customer’s behaviours, you will be able to clearly identify if there is a risk of your...
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As we wrap up the year and get planning for 2022 it is time to reflect on the previous 12 months and improve our processes, so we are in a strong position for the year ahead. Over the past 12 months we have noticed three key...
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The number of corporate insolvencies is about to erupt. Global corporate insolvency numbers are expected to increase by 33% next year, returning to levels not seen since before the pandemic began. Deloitte estimate that they could be even higher than the 60% increase in corporate insolvencies...
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Creditors have been dealt another blow with the temporary restrictions on winding-up petitions being extended by a further three months. With recent delays to the removal of some of the final coronavirus restrictions, we are still not out of the woods yet and this is having...
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No one likes to be left waiting around to be paid. This is why it is so important that you have an effective credit control process in place. Unpaid invoices are the bane of many business owners’ and credit controllers’ lives and cause a huge amount...
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Getting help recovering unpaid invoices from a business debt collection agency can be a seen a last-ditch attempt. However, it is always best to act quickly if you are owed commercial debt. Leaving debt outstanding for too long increases the risk that you lose your money...
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Recovering business debt can be a daunting process, particularly if you have never been in a position where you have had to use a debt recovery partner. This is completely understandable. Having outstanding invoices and difficult late payers is tough and it can leave businesses feeling...
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Late payments are a huge problem for UK businesses with 5.9 million SMEs chasing more than £50 billion worth of invoices. Unfortunately, most debts owed to SMEs are from larger businesses not paying invoices on time. Given recent world events and the impact the pandemic has had...
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Recovering business debt requires a certain set of skills and credit controllers are in high demand given the steep rise in commercial debt owed to SMEs in the UK. Some good news is that the approach to business debt recovery is practically identical across all industries. If...
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The commercial debt recovery process might sound complicated and even daunting if you have never used a debt recovery partner to help you recover commercial debt. We understand this and our simple process is what makes Darcey Quigley & Co’s approach to debt recovery different. The...
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Are you fed up waiting on a late payment? You're not alone, and this is why we've put together this complete guide on sending payment reminders and chasing late payment. An effective payment chasing process is simple to set up once and will mean you...
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Have you experienced late payment? It is something all too familiar for many businesses in the UK. When the payment date comes and goes and you are still waiting on getting paid it can not only be frustrating but worrisome too. There is some good news though. There are...
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Are we in for a rude awakening? This is certainly the view of Deloitte in a recent article they published looking at the outlook for corporate insolvencies in 2021. The number of corporate insolvencies in England and Wales in Q2 and Q3 2020 were at historical lows,...
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Update: In December 2021 the Bank of England increased interest rates from 0.1% to 0.25%. This means you can now claim more interest on your unpaid invoices and we have updated this article accordingly. If you have ever experienced late commercial payment you will know how frustrating...
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