Debt Recovery

Over a thousand pounds raised by our marathon teams

Over a thousand pounds raised by our marathon teams

Our marathon relay teams were very delighted to hand over a cheque for £1,240 to Brian Shanks of the Simon Community NI. The team would like to thank everyone who made... Read more

Late payments affect mental health of small business owners

By Gillian Crotty It is estimated that a third of all payments to small businesses are made late, and a new survey has looked at the impact on business owners, with... Read more

61 per cent of SME invoices are paid outside agreed period

By Gillian Crotty New research suggests that 61 per cent of invoices issued by small and medium sized enterprises (SMEs) in Northern Ireland and the rest of the UK are not... Read more

SMEs encouraged to tackle late invoice payments

By Gillian Crotty Small businesses in Northern Ireland and the rest of the UK are being encouraged to tackle late invoice payments in order to safe-guard their long term success. Ten of... Read more

60 per cent of SMEs waive late payment compensation to avoid offence

By Gillian Crotty A new survey suggests that 60 per cent of small business owners waive the late payment compensation they are entitled to in order to avoid causing offence to... Read more

Online system proposed for compensation and divorce cases in NI

By Gillian Crotty Solicitors dealing with divorces and compensation cases are being asked to consider the introduction of an online dispute resolution system in Northern Ireland. Holland and British Columbia in Canada... Read more

Small businesses dealing with 8 per cent increase in unpaid invoices

By Gillian Crotty There has been an 8 per cent increase in outstanding invoices owed to SMEs in Northern Ireland and the rest of UK compared to last year, according to... Read more

Half of SMEs have written off late payments totalling 10pc of turnover

By Gillian Crotty Half of SMEs in Northern Ireland and the rest of the UK are writing off unpaid invoices that total 10 per cent of their turnover according to a... Read more

Late payments put a quarter of SMEs at risk of financial crisis

By Gillian Crotty Just under a quarter (23 per cent) of SMEs say late invoice payments have put them at risk of going out of business, according to a new survey... Read more

30 per cent of payments to businesses in the UK are late

By Gillian Crotty A new report looking at the impact of late payments on small businesses suggests that 30 per cent of invoices are paid outside of the agreed terms. The paper... Read more

New rules to tackle late payments pledged for April 2016

By Gillian Crotty The coalition government has pledged to introduce rules to tackle late payments by large companies in April next year if they remain in power. While the new rules are... Read more

FSB calls for inquiry into UK culture of late payment

By Gillian Crotty The Federation of Small Businesses (FSB) is calling for an independent inquiry to assess how best to tackle late payment and supply chain bullying. The FSB national chairman John... Read more

The best New Year's resolution to make for your business

By Gillian Crotty Owners of small businesses in Northern Ireland and the rest of the UK will no doubt be making their resolutions for 2015, largely in the form of marketing... Read more

Northern Ireland businesses count the cost of 2014

By Gillian Crotty New figures show the extent of the difficulties faced by businesses in Northern Ireland this year, with 5,120 companies ceasing to trade. According to the figures from the Office... Read more

Labour proposes clamp down on late payments

By Gillian Crotty The Labour Party says it will clamp down on late payments by businesses with the proposal of 'tough' amendments to the Small Business Enterprise and Employment Bill. Late payment... Read more

Debt recovery and tips to minimise late payments

By Gillian Crotty Small businesses continue to be troubled by late and non-paying customers, with SMEs in Northern Ireland and the rest of the UK estimated to be owed £40billion. Many... Read more

Northern Ireland debt levels higher than rest of UK

By Gillian Crotty People in Northern Ireland have on average 20 per cent higher levels of personal debt that the rest of the UK according to a new report. The figures produced... Read more

97 pc of NI repossession sales result in mortgage shortfall

By Michelle Rock Almost all sales (97 per cent) of repossessed properties in Northern Ireland resulted in a shortfall which is still owed by the mortgage borrower to the lender even... Read more

SMEs avoid debt recovery because they find it uncomfortable

By Gillian Crotty New research suggests that 81 per cent of small business owners in Northern Ireland and the rest of the UK avoid chasing debts because they find the process... Read more

Payday lender used fake debt recovery solicitor firms

By Gillian Crotty Payday lender Wonga sent letters to customers from fake debt recovery solicitor firms that they themselves had invented, and in some cases even added 'legal fees' to their... Read more

Bookkeepers see late payments causing cashflow problems

By Gillian Crotty New research by the International Association of Bookkeepers (IAB) reveals that over half of their members have seen small businesses suffering cashflow problems as a result of late... Read more

New measures to tackle late payments by large firms

By Gillian Crotty Vince Cable has announced new measures to be introduced by the government to tackle late payment by large firms, who have regular been considered to be among the... Read more

A brief guide to debt recovery for SMEs

By Gillian Crotty It has recently been revealed that many small and medium sized businesses allow customer debt to go unchased for as long as 3 months before beginning to chase. Cashflow... Read more

Drop in Northern Ireland property repossessions

By Gillian Crotty There was a 14 per cent decrease in repossessions of Northern Ireland properties in the first quarter of this year compared to the same quarter in 2013. There were... Read more

SMEs often wait for 3 months before chasing debt

By Gillian Crotty Small businesses are allowing customer debt to go unchased for as long as 3 months before implementing any internal debt chase procedure or turning to external debt recovery... Read more

Fewer Northern Ireland companies with serious debt problems

By Gillian Crotty A new report suggests that there are fewer Northern Ireland companies with serious debt problems compared to last year. The Red Flag report in respect of the first quarter... Read more

Calls for prompter invoice payment by bigger companies

By Gillian Crotty The UK government's small business ambassador, Karren Brady, has called for bigger companies to pay their invoices from small businesses in a more timely fashion, saying the practice... Read more

EU campaign to put spotlight on late payments

By Gillian Crotty A European wide campaign has been attempting to put the spotlight on the impact of late payments on businesses, and to raise awareness of a new European directive... Read more

3000 Northern Ireland businesses facing cashflow problems

By Gillian Crotty New figures suggest that 3,643 businesses in Northern Ireland are facing financial difficulties, with 56 being classified as being in critical financial distress. The statistics produced by Begbies Traynor... Read more

SME Cash flow problems continue despite recovery

By Gillian Crotty All the latest economic surveys and reports suggest that the economy in Northern Ireland and the rest of the UK is on the road to recovery, but small... Read more

Late customer payment curbing SMEs future growth

New research suggests that small and medium-sized enterprises (SMEs) are unable to invest in the future growth of their company as a result of an increase in late customer payments. The... Read more

SMEs take too long to chase debt says study

Small and medium sized businesses are taking too long to chase outstanding invoice payments from their customers according to a new study by FreeAgent. Of the 500 people who responded to... Read more

Cashflow and red tape biggest problems for SMEs

Small business owners in Northern Ireland and the rest of the UK have identified cashflow problems and bureaucracy as their biggest headaches when it comes to keeping their company afloat. A... Read more

Large companies slowest to pay invoices in Q1 2013

Data from Experian on invoice payments in the first quarter of 2013 reveal that large companies in Northern Ireland and the rest of the UK are the slowest at paying... Read more

NI small businesses owed £3.1bn in late payments

Research carried out by Bacs Payment Schemes Ltd (Bacs) has revealed that small businesses in Northern Ireland are owed, on average, £63,000 each by late-paying customers. In total £3.1billion is... Read more

ICM advises SMEs on cashflow management

The Minister of State for Business and Enterprise, Michael Fallon, and the Institute of Credit Management (ICM) are advising small businesses to avoid cashflow problems by taking steps to avoid... Read more

Credit control practices a must for SMEs

Small businesses in Northern Ireland and the rest of the UK have found themselves having to re-think how they deal with late paying customers, as the problem with outstanding payments... Read more

Half of NI businesses suffer from late payments

Over a half of businesses in Northern Ireland that responded to a survey say that late customer payments could drive them out of business. Nearly 500 local businesses were polled to... Read more

More UK businesses outsourcing debt recovery

There was an increase in the number of businesses in Northern Ireland and the rest of the UK choosing to outsource debt collection to a third-party company in the last... Read more

Small businesses urged to credit check customers

The effect of late invoice payments on small businesses is getting so severe that companies are being encouraged to credit check new customers to make sure they have the ability... Read more

NI construction woes cost small companies

Another week, and another Northern Ireland construction company has gone into administration, this time the Patton Group that employs 320 staff throughout the province. That such a large company hits the... Read more

2 in 5 businesses see increase in late payments

Approximately 40 per cent of small and medium sized businesses in Northern Ireland and the rest of the UK have seen an increase in the number of customers paying their... Read more

NI developer bankruptcy could be extended

The bankruptcy status of a Northern Ireland developer and his wife could be extended over concerns that they have not fully disclosed all their assets, in particular, properties owned abroad. Sean... Read more

Million small businesses chase late payments

New figures produced by Bacs have revealed that a million small and medium-sized enterprises (SMEs) in Northern Ireland and the rest of the UK are having to chase customers late... Read more

Half of councils paying small businesses late

A study carried out by the Forum of Private Business has revealed that local authorities are among the worst offenders of late payments to small businesses and other suppliers. A target... Read more

How big contracts can cost SMEs

Every small and medium sized business aspires to land big contracts with big companies, but a Think Tank is suggesting that SMEs should avoid dealing with bigger companies. The terms and... Read more

How SMEs can improve invoice payment times

Businesses in Northern Ireland and the rest of the UK on average receive payment on their invoices 24.67 days after agreed terms, and are often obligated to enlist the help... Read more

SMEs can't afford long invoice payment delays

A new survey has revealed that 1 in 10 business owners would have to close or scale back their operations if their customers took over 90 days to pay their... Read more

FSB calls for 10 day rule for invoice payment

Regional chairman of the Federation of Small Business (FSB), Gordon Millward, is calling on the Government "to ensure that all public agencies follow the lead of central Government and pay... Read more

Small businesses have average debt of £30k

Research by the Consumer Credit Counselling Service (CCCS) for The Independent has revealed that small business owners and the self-employed have average personal debt of £30,514. Most of the debt is... Read more

Millionaire gets 2.30am debt collection visit

Millionaire Mario Georgallides, aged 54, says he received a visit from a debt collection agency at his home at 2.30am in the morning to collect an unpaid fine. Mr Georgallides had... Read more

Businesses crippled by late paying customers

A survey carried out by Contact Law suggests that small and medium sized businesses are being pushed into difficulties with their cash-flow as a result of slow and non-paying customers. Cash-flow... Read more

Larger firms slower to pay debts to SMEs

According to Experian, large firms in Britain are the slowest to pay their debts, though there has been some overall improvement in 2011. The statistics show that British companies often pay... Read more

£800k of debt recovered for our clients in 2011

The Wilson Nesbitt debt recovery team successfully secured the payment of nearly £800,000 of debts owed to clients in 2011. Those debts involved both large sums owed to bigger client... Read more

Sean Quinn not entitled to declare bankruptcy in NI

The High Court has ruled that former billionaire Sean Quinn was not entitled to declare bankruptcy in Northern Ireland over his large debt to the former Anglo Irish Bank -... Read more

A third of adults to take on debt to fund Christmas

A survey by YouGov has revealed that 31% of people in Britain will get themselves into debt in order to fund their plans for Christmas, with a similar practice expected... Read more

NI Court error showed creditor in winding-up list

The Northern Ireland Court service has issued an apology to Cemex (NI) Ltd after it mistakenly listed the company as being the subject of a winding-up petition. Cemex was in... Read more

Debt recovery companies warned off using social networks

Debt collection companies have been warned not to pursue people on social network sites such as facebook and twitter, as doing so unfairly brings their debt problems into the public... Read more

OFT shuts down 62 debt management firms

Over the last 12 months the Office of Fair Trading (OFT) has suspended the licenses of 62 debt management firms, and there has also been a clamp down on other... Read more

NI businesses look to recover old debts

Businesses in Northern Ireland are improving their debt recovery measures by chasing older debts that have been allowed to go unpaid for as long as six years, according to figures... Read more

Northern Ireland insolvencies at record high

The second quarter of 2011 saw a record 752 people in Northern Ireland made insolvent, representing an 18% increase on the same quarter last year. The number of people who have... Read more

Boost for NI debt advice service

The Northern Ireland Mortgage Debt Advice Service is to receive a cash injection of £500,000 to enable it to continue operation until 2015. More than any other area of the UK,... Read more

Late payments stem cashflow of small businesses

The monthly Omnibus business survey released by Sage has revealed that over a third of small businesses believe late payments by customers have become a more serious problem in... Read more

Increase in debt as people borrow to pay bills

The latest monthly household finance index from Markit has revealed that personal debt in Northern Ireland and the rest of the UK is on the increase, as many householders find... Read more

Small Claims Court increase claims limit to £3000

The Northern Ireland Courts and Tribunals Service increased the financial limit on Small Claims Applications.  As of 2nd May 2011 you can issue a Claim within the Small Claims... Read more

Red Sky goes into voluntary administration

Following the Northern Ireland Housing Executive (NIHE) decision last week to terminate contracts with maintenance company Red Sky valued at £8million, the firm has said it has had "no alternative"... Read more

HMRC hires 1000 workers to improve debt collection

HM Revenue & Customs (HMRC) has received criticism of late in respect of its increasingly aggressive debt recovery tactics; in particular in response to an error they made with... Read more

Northern Ireland identified as debt hotspot

A new report by the Consumer Credit Counselling Service (CCCS) has found that Northern Ireland is one of the UK's personal debt hotspots, with the charity saying it deals with... Read more

HMRC debt recovery tactics get tough

Reports have started to surface about the receipt of increasingly aggressive letters being received from the HM Revenue & Customs (HMRC) threatening removal of household possessions for sale at... Read more

HMRC bankruptcy of woman lacking capacity annulled

The bankruptcy of Nicola Haworth after an order obtained by the HM Revenue and Customs (HMRC) has been annulled on the basis that she lacks capacity, and that the... Read more

Baby boomers first generation to die with large debt

A new report by Aviva has shown that one in seven of the baby boomer generation currently entering retirement will never be debt-free. They were the first generation to experience... Read more

Belfast skyscraper developer declared bankrupt

Mervyn McAlister, the developer who planned to construct a 37-storey skyscraper at Great Victoria Street in Belfast, has been declared bankrupt. The building would have become the tallest... Read more

Northern Bank vows to recover debt

  Reeling from a pre-tax loss of £95million in 2010, including a provision of nearly £143million in bad debts, Northern Bank has vowed to recover debts from anyone who gave a... Read more

Public don't consider debts under 16k a problem

The Financial Safety Net study produced by Scottish Provident this week shows that the majority of consumers do not feel they have a problem with debt until it exceeds... Read more

Homes at risk due to debts as small as £600

The office of Fair Trading (OFT) has vowed to clap down on lenders who are encouraging borrowers to pledge their homes against unsecured debts, after finding that some home-owners... Read more

Overspending is increasing personal debt in UK

A new survey by Bright Grey has revealed that people in Northern Ireland and the rest of the UK are continuing to live beyond their means and are exposing themselves... Read more

NI businesses successfully recover customer debt

In the month of October alone, Wilson Nesbitt solicitors in Belfast successfully recovered customer debt totalling £107,644.67 for businesses in Northern Ireland and other parts of the UK. ... Read more

Debt collectors put on victims of loan fraud

Debt collectors working on behalf of 'Help Loan', a Finnish company operating in the UK that specialise in fast loans of £50-£300 at very high rates, having been trying... Read more

4 in 10 adults have personal debt concerns

Research carried out by insolvency trade body R3 has revealed that nearly 19 million adults in Britain, or 4 out of every 10 adults, have serious debt concerns. ... Read more

Charity struggles to deal with NI debt enquiries

The Citizens Advice bureau has warned that they are struggling to keep up with the rising number of debt enquiries in Northern Ireland as the level of debt in Northern... Read more

Banks write off £40million family debt per day

Banks and building societies wrote off approximately £3.5billion of family debt between the months of April and June this year, equating to £40million every day. The figures released by the... Read more

Debt causes 1 in 3 Pensioners to dip into home equity

Research carried out on behalf of the charity Age UK has revealed that 1 in 3 retired property owners are choosing to use equity release to clear debts. The other... Read more

Creditors use Facebook to help locate debtors

The use of Facebook for purposes other than simple social networking seems to make the headlines every other week, with insurance companies using it to catch injury claim fraudsters, employers... Read more

Britons have lax attitude to debt issues

New research has revealed a lax attitude towards debt issues by the majority of Britons. Personal debt in Britain currently reaches over £1,460billion however of those surveyed by moneysupermarket.com 66%... Read more

Belfast company fined for aggressive debt collection

The Magistrates Court has fined Belfast company Skyline Superstore Ltd £200 for using aggressive tactics when attempting to recover a debt. In March 2009, an agent for the company personally... Read more

Creditors to wait behind taxman to collect debts

Never has the tax deferral scheme 'Time-to-Pay' been so aptly named, as the clock on arrangements entered into between businesses and the HMRC runs out, and companies find that now... Read more

?15million of bad debt written off by Invest NI

The Northern Ireland Executive's industrial support agency, Invest NI, has written off almost £15million of debt owed to it by several companies, and is currently trying to recover debt totalling... Read more

UK personal debt reached ?1.46billion in March

The amount of personal debt in the UK increased  to £1.46billion in March according to 'Credit Action'. Credit card users are borrowing an average of £4,593 with consumer credit lending... Read more

Third of British debt made up of personal loans

According to a new report published by the Consumer Credit Counselling Service (CCCS), a third of the overall debt owed by British borrowers experiencing money problems is made up of... Read more

Landlords sink into bankruptcy due to failing Buy to Let sector

According to data released by IVA.com for March there has been a large increase in the number of professional landlords seeking serious debt advice. The company reports a 53% increase in... Read more

Northern Rock writes off ?1billion in bad debt

The Nationalised bank Northern Rock experienced a 17% increase in bad debt of defaulting customers in 2009, resulting in a total write-off bill of £1billion. An increasing number of the banks... Read more

Insolvency - Paying for Christmas in March

Insolvency trade body R3 have released figures today that suggest that nearly one third of personal insolvencies confirmed in March are as a direct result of big-spending during the festive... Read more

Debt charities unable to cope with consumer enquiries

The National Audit Office (NAO) research showed the Government’s free debt counselling agencies struggled to cope with the number of consumers from Northern Ireland and the rest of the UK... Read more

Record number of people declared insolvent in 2009

Figures released by the Insolvency Service show that a record number of people in England and Wales were declared insolvent during 2009. 134,142 people went bankrupt, sought debt relief, or... Read more

Financial distress to increase for businesses during recession

Begbies Traynor, have today released their latest Red Flag alert which is a monitor of early warning signs of company distress, and will make for uncomfortable reading among UK business... Read more

New service launched by Wilson Nesbitt a first for Northern Ireland

In a first for Northern Ireland, Wilson Nesbitt Solicitors of Belfast have launched their new business law guide and document builder website. People visiting www.wilsonnesbittonline.co.uk will have free access to... Read more

UK debt hits £1,459bn

The total amount of personal debt in the UK and Northern Ireland has hit £1,459 billion, according to new figures.Credit Action's latest findings, which could impact on the number of... Read more

NI debt soars as recession continues

Solicitors in Belfast may increasingly find themselves dealing with debt-related matters following the revelation that credit card debt in Northern Ireland (NI) has soared to unprecedented levels, it has emerged.According... Read more

Consumers switch to debt reduction due to financial turmoil

New figures from Unbiased.co.uk have revealed how 2008 saw British consumers, including Northern Ireland (NI) residents, switch from saving to debt repayment as the credit crunch took hold of the... Read more

Recession hitting Northern Ireland hard

Some parts of the UK are being affected to a greater extent than others by the recession, a BBC Radio 4 investigation has found.The World at One programme conducted an... Read more

Parents in debt as children ask for bailouts

Two million parents in the UK have been pushed into debt as a result of bailing out their children with financial help, Scottish Widows Savings and Investments annual Report has... Read more

Need for financial advice up as credit crisis continues

New figures show that the credit crunch has led to an increase in the number of people seeking professional financial advice, with a 20 per cent increase noted in the... Read more

Debt advice being offered by bankers

Bankers and lenders have changed their attitudes towards lending and are now more concerned with offering debt advice to consumers, it has been stated.The UK Insolvency Helpline, which is made... Read more

Find out what options you have, investors told

Seeking debt advice as early as possible in order to find out what options are available is vital in the current economic environment, according to the Money Advice Trust.Homeowners facing... Read more

More in need of debt advice due to downturn

Demand for debt advice is on the rise as declining property values, redundancies and the recession continue to push people into financial difficulty necessitating the services of a solicitor for... Read more

Overdependence on credit source of debt, expert says

Solicitors in Northern Ireland may be interested to know that many people in the province are finding themselves in financial difficulty because of overdependence on credit.This is the opinion of... Read more

Half not seeking help on debt despite concerns

New research shows that half of those concerned with debt are not asking for advice on how to get their money woes sorted out, despite growing financial pressure, solicitors in... Read more

Repossessions feared in Northern Ireland

Hundreds of families in Northern Ireland are fearing that their Christmas could turn out to be their worst ever, as they believe they are in danger of having their homes... Read more

Quarter of the population in financial trouble

The threat of bankruptcy and repossession continues to grow across the UK with a quarter of the population now struggling to keep a handle on finances, solicitors in Belfast may... Read more

Brits owe £4.71bn to friends and relatives

A different kind of debt has British people £4.71 billion in the red, money that is owed not to institutions or any official lender but friends and relatives, solicitors in... Read more

People continue to fall further in debt

New data has revealed that the number of people in debt has fallen into further debt in the last three months as the financial pressure brought about by the credit... Read more

Lenders urged to avoid repossessions

Solicitors in Northern Ireland may be interested to know that the Homeowners Advice Centre has spoken in favour of homeowners concerning the rising threat of repossessions.The organisation has urged mortgage... Read more

Personal debt solution proposed

Solicitors in Northern Ireland may want to know that national charity Citizens Advice is proposing a new way for people in debt to regain control of their finances.The charity has... Read more

Homeowners to be protected from repossessions

Debt recovery procedures for homeowners in Northern Ireland and other areas in the UK facing mortgage trouble have been put in place by the government.New measures introduced now require mortgage... Read more

Arrears expected as crunch continues

Solicitors in Northern Ireland may find themselves under increasing demand from struggling homeowners following revelations that the next few months are likely to see large increases in arrears.According to the... Read more

IPODs face bleak future

An outdated financial establishment together with the government is letting down Insecure, Pressurised, Over-taxed and Debt-ridden (IPODs) 18-34-year-olds, a new report suggests.According to the report from the Chartered Insurance Institute... Read more

More benefits cheats being caught

More people in Northern Ireland are being convicted of benefit fraud.Solicitors in Northern Ireland may be interested in the BBC report which states that the number of people convicted of... Read more

Northern Ireland faces drops in financial confidence

Consumer confidence in Northern Ireland has suffered its steepest decline in a decade, research has found.In a report that may concern solicitors in Northern Ireland, an Ipsos MORI survey found... Read more

Profit fears as bad debt rises

Profit fears gave been raised at Ireland's biggest banking group partly as a result of the extent of bad debts the business expects to incur in months to come. Over... Read more

NI IT glitch causes £130m arrears

A computer glitch in Northern Ireland led to rate arrears of £130 million this year, it has been revealed.Comptroller and auditor general John Dowdall, of the country's audit office, published... Read more

Northern Rock to increase debt collection

Newly nationalised bank Northern Rock, which has branches in Northern Ireland, is to recruit debt collectors in order to claim back money owed to it by people in mortgage arrears.These... Read more

Debt collectors due to visit Northern Ireland evaders

People in Northern Ireland without a TV license may need to purchase one before viewing the Apprentice final as debt collectors will be out investigating who is watching the programme.Such... Read more

Plan to help Northern Ireland homeowners in danger of repossession

The social development minister Margaret Richie is due to announce a rescue plan for homeowners in Northern Ireland facing repossession.Over the past six years, repossessions through the courts have risen... Read more

Debt collectors from south pursuing fines in Northern Ireland

Motorists living in Northern Ireland who avoid paying fines issued south of the border are to be pursued by debt collectors.A private company, the Euro Parking Collection (EPC) has powers... Read more

'Unfair' debt collection companies warned against bad practices

The Office of Fair Trading (OFT) has issued warnings to 13 UK companies who are deemed to have unfair debt collection practices.According to the OFT, these companies have not followed... Read more

Government protection from rogue lenders

Unscrupulous lenders and debt collectors are to face tough new regulations on their behaviour, according to the Department for Business, Enterprise and Regulatory Reform.The Consumer Credit Act 2006 introduces tougher... Read more

Housing debt grows

Mortgage debt in Northern Ireland is increasing at a greater rate than in any other part of the UK, it has been claimed.In news which may see demand for solicitors'... Read more

New rules on debt collection may affect some solicitors in Northern Ireland

The Ministry of Justice has announced new regulations intended to protect householders from unscrupulous bailiffs.Solicitors in Northern Ireland will have to make sure debt collectors are properly trained and new... Read more

Mortgage holders feel 'out-of-control'

Solicitors in Belfast and Northern Ireland could be forced to pursue more mortgage holders for debt this year, as many admit that they feel out-of-control of their repayments.According to the... Read more

Property owners in debt to government

Solicitors in Belfast and Northern Ireland could see the government in need of debt recovery services, after the Belfast Telegraph revealed that ratepayers in the province owe them over £140... Read more

Northern Rock 'should have been a clue'

Despite the credit crunch, solicitors in Belfast and Northern Ireland have still seen buy-to-let investors taking out mortgages, but one expert says perhaps they have been unwise.Solicitors will remember the... Read more

Sale and rent back a 'solution to debt interest'

Solicitors could have to pursue fewer people in Belfast and Northern Ireland for debt if they take advantage of a sale and rent back scheme.Unfortunately solicitors in Belfast and Northern... Read more

Sale and rent back a 'solution to debt interest'

Solicitors could have to pursue fewer people in Belfast and Northern Ireland for debt if they take advantage of a sale and rent back scheme.Unfortunately solicitors in Belfast and Northern... Read more

Credit cards 'risk becoming a necessity'

Solicitors in Belfast and Northern Ireland could have to pursue people for debt who are using their credit cards too much, experts suggest.People in Belfast and Northern Ireland who have... Read more

Credit cards 'risk becoming a necessity'

Solicitors in Belfast and Northern Ireland could have to pursue people for debt who are using their credit cards too much, experts suggest.People in Belfast and Northern Ireland who have... Read more

NI families in fuel debt

Solicitors in Belfast and Northern Ireland could be forced to pursue people who have not paid their heating bills for debt, after new research showed that the province is worse... Read more

NI families in fuel debt

Solicitors in Belfast and Northern Ireland could be forced to pursue people who have not paid their heating bills for debt, after new research showed that the province is worse... Read more

30% rise in insolvencies in 2008

This year, solicitors could be very busy chasing people who have defaulted on their debts after experts have predicted a 30 per cent rise in personal insolvencies in Britain and... Read more

30% rise in insolvencies in 2008

This year, solicitors could be very busy chasing people who have defaulted on their debts after experts have predicted a 30 per cent rise in personal insolvencies in Britain and... Read more

NI sees more businesses collapse

Solicitors in Northern Ireland have had to help more companies go into liquidation or collapse last year, according to a new report.A study by Experian found that 25.4 per cent... Read more

Joint mortgages offer a helping hand

Solicitors in Northern Ireland could see more people splitting their mortgage between two or more parties, as experts say this may be the only way for first-time buyers to get... Read more

Rent 'may be the only option'

Solicitors in Belfast and Northern Ireland are unlikely to see too many first-time buyers wanting to seal a property deal next year, as experts claim that renting may be the... Read more

Consumers to be hit by repossessions

Solicitors in Belfast and Northern Ireland could be pursuing record numbers of people for debt in the New Year after experts predict that repossessions will be on the rise.Belfast solicitors... Read more

Christmas could see increase in NI debt

Solicitors in Belfast and Northern Ireland could be forced to pursue more people for debt in the New Year after financial advisors have claimed that Christmas spending could push consumers... Read more

NI debt letters misdelivered

Solicitors in Belfast and Northern Ireland face a potential surge of debt-related work after the Royal Mail misdelivered letters addressed to the Belfast Collection Services.According to the Belfast Telegraph, a... Read more

NI to see more insolvencies

There is set to be an increase in insolvencies during 2008 across Britain and Northern Ireland, according to new research.Figures from PricewaterhouseCoopers (PwC) have revealed that the impact of the... Read more

Subbies owed thousands by haulage firm

Northern Ireland solicitors may see an increasing number of sub-contractors coming to them for legal advice after Reid Transport has gone into administration, owing them tens of thousands of pounds.The... Read more

Event planner deeply in debt

Solicitors could become involved in the affairs of the Northern Ireland Events Company (NIEC) after the company revealed it has debts of around £1 million.Only a week after organising Rally... Read more

British debt levels 'soaring'

Levels of debt in Britain and Northern Ireland are increasing at a vast pace, it has been reported.According to research carried out by Credit Action, the national money education charity,... Read more

Warning issued on debt

More needs to be done to tackle rising levels of debt in Britain and Northern Ireland, it has been claimed.Research carried out by Citizens Advice Bureau has claimed that the... Read more

Consumers look to reduce debt

An increasing number of consumers across Britain and Northern Ireland are actively seeking to reduce their debt levels, it has been claimed.According to Moneyextra.com, consumers are "actively attempting to reduce... Read more

NI debts 'out of control'

Lenders who provide the province with personal loans may have recourse to solicitors in Northern Ireland after the Irish League of Credit Unions (ILCU) has warned that personal debt levels... Read more

MPC 'made interest rate mistake'

Financial experts have said that the monetary policy committee (MPC) probably made a mistake in making their last decision on interest rates and are now predicting a housing market crash.Capital... Read more

Warning over negative equity

Homeowners in Northern Ireland and across Britain could suffer from negative equity in the near future, it has been claimed.Research from Fool.co.uk has claimed that many more people are at... Read more

NI in debt crisis due to personal credit

Consumers in Northern Ireland have accrued £15 million of new debt within the last 12 months, according to the latest statistics from the Department of Enterprise, Trade and Investment.In its... Read more

Debt likely to escalate

After the latest interest rate hike and another predicted to be on the way, mortgage-payers in Britain and Northern Ireland could face more debt judgements.Following the spate of interest rate... Read more

Rate rises push up repossessions

The number of repossessions in Britain and Northern Ireland has increased by 32 per cent since April, according to a new report.The Royal Institute of Chartered Surveyors (Rics) has revealed... Read more

NI sees less mortgage debt

Solicitors in Northern Ireland will be seeing fewer debt recovery cases that relate to mortgage repayments, as repossessions have dropped despite over-inflated house prices in the province.According to 4NI, figures... Read more

Northern Ireland more in debt than it thought

Debt recovery firms may be seeking the help of solicitors if their systems have failed to ascertain just how in debt their clients are, after an agency as powerful as... Read more

Divorcee must pay for ex's debts

In the second case of its kind, divorcee Vivienne Avis may be forced to sell the home she has lived in for over 20 years due to the bankruptcy of... Read more

Debt soars

New figures have suggested that millions of people across Britain and Northern Ireland could be trapped in debt for as long as 30 years.Research carried out by price comparison website,... Read more

Mortgage misery as MPC hikes rate

Thousands of mortgage holders across Britain and Northern Ireland will be facing higher repayments after the Bank of England's monetary policy committee (MPC) announced that the interest rate would rise... Read more

Rocketing property prices cripple NI incomes

With the housing boom being felt most in Northern Ireland above all other countries in Great Britain, people in the province are feeling the effects on their wallets more than... Read more

HMRC consults on tax payments

HM Customs and Revenue (HMRC) has launched a consultation on improving tax payment options and managing debt.Payments, Repayments and Debt: The Developing Programme Of Work is the title of the... Read more

Northern Ireland relies on credit

People in Belfast spend an average £98,640 on credit cards during their lifetimes, a new survey has shown.£2,200 a year is splashed on holidays, cars, clothes, entertainment and other bills,... Read more

Repossessions drop in spite of spiralling prices

Repossessions as a result of people defaulting on their mortgage payments have dropped in Northern Ireland during the first quarter of 2007.Although people are taking out larger value mortgages due... Read more

Interest rates rise again

The Bank of England has raised interest rates by a quarter percentage point.Solicitors in Northern Ireland can expect a rise in the number of people coming to see them regarding... Read more

Divorcees may fund ex's debts

An unprecedented decision yesterday ruled that a divorcee would have to fund creditors when her ex-husband was declared bankrupt, the Times reports.Solicitors have predicted an influx of trustees in bankruptcy... Read more

Bad debt could reach near-record levels

Lenders are more likely than ever to have to resort to solicitors to recover bad debt, as prospective interest rate increases would push 'write-offs' and repossessions to near-record levels.According to... Read more

Debt hitting hard across UK

New figures have shown that solicitors across Britain and Northern Ireland are seeing an increase in work in their debt services divisions.According to research carried out by the Consumer Credit... Read more