Dare we use the B word? Better not!
With time ticking, it is becoming increasingly apparent that the UK’s current financial landscape, doesn’t know how to cope with the uncertainty surrounding the UK’s exit from the EU.
Nobody or business can realistically predict how worldwide markets might react once we have left, but research published by City A.M. and Atradius states that Global insolvency rates are rising for the first time since the aftermath of the 2008 financial crash. They also say that the UK is expected to be the worst hit. An insolvency outlook report forecasts “business failure rates will increase by 10 per cent this year in Britain and by 2.7 per cent across western Europe”.
Here at My Debt Recovery, we have been thinking about how we can help our clients during this period of uncertainty and transition.
We see so much money tied up in our clients end column, those dreaded debts over 90 days. We also see some amazing recoveries of those very same debts and want our clients to know that just because a debt hasn’t been collected, it doesn’t have to mean it won’t be collected. That’s why we offer a free, no obligation debtor review. Also, if a debtor has entered an insolvency procedure, we offer a no cost review of the paperwork to give our clients a realistic assessment of any likely recovery.
Nobody likes uncertainty. That’s why we are always looking at ways to help our clients, both now and in the future.
You can find the full City A.M. article here.
Struggling with late payments? Contact our specialist team to see how we can help.