Insolvencies on the Rise

Forbes Collect Article

11 March, 2009

A recent report by credit analysts Experian indicates that the 16,591 business failures in the first nine months of 2008 represented a 22 per cent increase over the same period in 2007. Furthermore, the rate of failure is increasing, with nearly 6,000 failures in the three-month period ending in September.

The increase in failures was widely spread across all industry sectors, with London, Wales and Scotland having the highest failure rates.

Experian advises businesses to keep a close eye on the current payment trends of customers and to address any payment issues with good customers early on. Other danger signs are the delayed filing of annual accounts and returns and the presence of county court judgments. Getting information on the 'people behind the company' is also suggested where credit is being extended to small companies.

Vigilance is crucial when times are hard and businesses that do not take care over who they sell to or fail to manage properly the level of their credit risk are taking a big chance in the present business environment. We can help you collect overdue debts and tighten the terms of trade under which you make supplies or can advise you of the best steps to take if you are having difficulty making payments on time.

Back

13 Dec 2017

Forbes Collect

NEWS AND ARTICLES

Who pays the price for commercial debt recovery claims?

If you are faced with the situation where you have to take one of your clients to Court to recover your unpaid…

Read the article

On behalf of everyone here at EvolveU we just wanted to say a massive thanks for all of your help and assistance with the Traffic Engineering and Management Services Limited

EvolveU

More clients

We are delighted with the Professional manner in which Forbes Solicitors deal with all our legal requirements and would not hesitate to recommend this Company.

Trident Fire & Security Group Ltd

More clients

We asked Forbes Solicitors to help when a client would not pay his bill. I sent an email to Katy, received a reply straight away, we were advised of the action that would be taken

Abby Welding Ltd

More clients

I contacted Alison at Forbes Solicitors regarding an outstanding debt which we were having problems getting paid for I would just like to say what a very quick and professional service she provided

Natalie Fairclough
Thermal Hire Ltd

More clients

The Woodscape Group have been relying on Forbes Solicitors for over thirty years and the work carried out by Alison Nelson and the team over the last few years has only strengthened

Richard Nelson
Managing Director
Woodscape Ltd

More clients

DPFOC relies on Forbes for all legal advice. We find the service to be professional, well-informed and affordable.

Eddie O' Driscoll
DPFOC

More clients

I was owed money for plumbing services provided and despite several conversations with the debtor to request payment, he was dishonestly claiming that he had paid despite their being no evidence

Martyn Whalley
Back on Tap Plumbing

More clients

Alison and her team have worked with us on a number of occasions now - so much so that we see them as an extension of our business!

Lucy Hyde
Managing Director
Higher Access Limited

More clients

Forbes have helped me immensely with bad debt recovery over the past few years.

Olwen Hope
Credit Control
Able 2 Ltd

More clients

I have used Alison Nelson for a number of years for debt collection. I would strongly recommend her for similar work.

Mr Fahmi
Consultant Plastic Surgeon

More clients

The professional and speedy way that Forbes dealt with this resulted in a very quick settlement of the matter. I can assure you that I will recommend Forbes for matters such as this in the future.

Morgan Rothwell
Director
D&M Creative Limited

More clients

We have used Alison's services on a number of occasions and have always received the desired results!

Stephen Gibson
Operations Director
Ecompli

More clients

Make an enquiry