Debt Recovery
Late payments costing small businesses £25,000
4th June 2019
By Gary AdairBusiness owners in Northern Ireland and the rest of the UK are owed £24,841 in late payments on any given day, according to a recent study of two... Read more
Over a thousand pounds raised by our marathon teams
14th May 2018
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
25th May 2017
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
25th January 2017
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
20th September 2016
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
12th November 2015
By Gary Adair 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
28th October 2015
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
29th September 2015
By Gary Adair 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
3rd September 2015
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
19th August 2015
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
5th June 2015
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
23rd March 2015
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
3rd February 2015
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
6th January 2015
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
16th December 2014
By Gary Adair 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
28th October 2014
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
26th September 2014
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
12th September 2014
By Gary Adair 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
18th July 2014
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
7th July 2014
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
25th June 2014
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
20th June 2014
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
4th June 2014
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
20th May 2014
By Gary Adair 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
16th May 2014
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
30th April 2014
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
23rd April 2014
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
8th April 2014
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
13th February 2014
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
22nd January 2014
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
9th September 2013
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
23rd July 2013
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
27th June 2013
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
10th May 2013
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
30th April 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
4th April 2013
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
22nd March 2013
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
21st February 2013
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
9th January 2013
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
7th January 2013
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
6th December 2012
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
7th November 2012
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
6th November 2012
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
31st October 2012
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
12th October 2012
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
14th September 2012
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
20th August 2012
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
18th July 2012
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
19th June 2012
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
16th May 2012
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
12th April 2012
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
4th April 2012
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
14th March 2012
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
13th February 2012
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
19th January 2012
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
11th January 2012
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
16th December 2011
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
28th November 2011
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
15th November 2011
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
27th September 2011
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
2nd September 2011
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
9th August 2011
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
3rd August 2011
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
23rd June 2011
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
22nd June 2011
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
5th May 2011
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
21st April 2011
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
13th April 2011
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
30th March 2011
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
15th March 2011
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
15th March 2011
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
10th March 2011
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
28th February 2011
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
11th February 2011
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
14th January 2011
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
22nd November 2010
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
11th November 2010
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
2nd November 2010
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
29th October 2010
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
24th September 2010
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
17th September 2010
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
2nd September 2010
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
11th August 2010
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
3rd August 2010
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
28th July 2010
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
29th June 2010
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
10th June 2010
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
28th May 2010
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
6th May 2010
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
19th March 2010
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
15th March 2010
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
12th March 2010
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
12th March 2010
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
8th February 2010
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
5th February 2010
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
19th January 2010
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
1st December 2009
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
1st July 2009
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
20th April 2009
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
17th April 2009
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
17th March 2009
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
25th February 2009
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
18th February 2009
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
10th February 2009
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
2nd February 2009
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
28th January 2009
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
15th January 2009
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
6th January 2009
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
24th December 2008
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
10th December 2008
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
5th December 2008
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
4th December 2008
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
14th November 2008
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
4th November 2008
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
23rd October 2008
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
22nd October 2008
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
21st October 2008
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
12th September 2008
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
11th September 2008
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
31st July 2008
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
7th July 2008
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
18th June 2008
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
10th June 2008
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
3rd June 2008
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
23rd May 2008
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
10th April 2008
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
7th April 2008
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
26th March 2008
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
19th March 2008
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'
4th March 2008
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
3rd March 2008
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'
29th February 2008
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'
28th February 2008
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'
28th February 2008
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'
27th February 2008
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'
27th February 2008
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
5th February 2008
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
5th February 2008
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
15th January 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
15th January 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
3rd January 2008
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
28th December 2007
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'
21st December 2007
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
21st December 2007
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
19th December 2007
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
11th December 2007
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
26th November 2007
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
23rd November 2007
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
22nd November 2007
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'
9th November 2007
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
7th November 2007
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
6th November 2007
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'
30th October 2007
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'
9th October 2007
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
8th October 2007
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
2nd October 2007
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
24th September 2007
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
3rd September 2007
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
13th August 2007
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
23rd July 2007
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
20th July 2007
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
19th July 2007
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
5th July 2007
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
5th July 2007
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
28th June 2007
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
16th May 2007
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
14th May 2007
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
10th May 2007
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
10th May 2007
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
27th April 2007
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
5th April 2007
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
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