Contact our debt recovery specialists. Call 0141 331 2332
Many people will either receive or give store gift cards this Christmas.
The general public is well aware of the gift card debacle following the administration of the House of Fraser. Basically the administrators refused to honour them. They said that the gift card holders were unsecured creditors of the company. The net result is that, at most, they will receive only a few pence in the pound on the card.
In a recent case a Russian oligarch feared for his life and was, apparently, the victim of a burglary conjured up by his ex-wife. And to make matters worse the ex-wife was accused of threatening to get him deported from the UK.
The number of Scottish debts is on the increase. They rose by more than a third in the last quarter.
Inverclyde Council is the first Scottish Council to provide its residents with real-time help with debt. And with this being the first time which a council has provided live chat facilities no doubt some of Scotland’s other councils will soon follow suit. With the new service being available on the councils website.
As Stephen Cowan tells Scottish Business Insider, there are a variety of common sense measures which businesses can take to reduce the negative effects of bad debt.
In September two apparently contradictory headlines appeared in Glasgow’s Herald newspaper. The first stated that there had been a ‘Massive Drop in Scottish Court Cases Since 2008’. Indeed the latest figures disclose a decrease of some 54% in court actions from 2008 to where we are today. Two thirds of them were settled in favour of the creditor. The second headline declared a ‘Rise in Householders Struggling to Pay Bills’.
According to a recent statement from Direct Line Insurance, more than 8 million people risk their relationship with their partner by hiding the fact that they are in debt. The Insurance Company has also stated that a staggering 460,000 people have said that they would not have commenced a relationship if their partner had not told them about their borrowings.
It has been reported recently that collectors have been paying hundreds of pounds for the very first batch of banknotes that went into circulation last September - with rare editions fetching anything from double the value to £80,000 at auction.
The total value of UK business judgments rose sharply - by 25% - during the first quarter of the year, according to figures released today by TrustOnline.
The Registry Trust, the agency responsible for recording judgment information, has reported sharp increases in both English business and consumer debt. Indeed, so far as consumer debt is concerned, the amount of consumer debt is the highest since current records, dating back to Q1 2005, began.
Testimonials
Yuill + Kyle are an extremely focused firm who are achieving great results for us north of the border. Their client-focused staff keep us 'in the loop' so we are able to make timely decisions, helping us to recover more of our money.
I would not hesitate to recommend Yuill + Kyle's services to other business colleagues. I recently sent Yuill + Kyle's pre-sue letter to 2 debtors. Within 2 days of Yuill + Kyle sending these letters one of the debtors paid his £560 and the other his £750, all for the fee of a 7 day letter!
I instructed Yuill & Kyle to send a pre-sue letter to my debtor. This resulted in the debtor paying their outstanding £2750. We also received a letter of apology from them!! Great result!!
I have to say that Yuill + Kyle have represented my best experience to date with solicitors, and although I was unable to take this matter further on this occasion I would have no hesitation in using you again or recommending you to others.
I would really like to recommend your services to everyone considering litigation. Your online service is fast, efficient and easy to use. We found that your costs are simply unbeatable for pre-litigation and I feel sure that when we require legal support, Yuill + Kyle will be our first choice.
Yuill + Kyle successfully recovered £19,000 for our client. We were delighted with their professionalism and fully intend to use them again in the future.
"Stephen Cowan displays calm equanimity in the face of challenging, complex and often adversarial situations, and responds quickly and professionally."
Contact our debt recovery specialists.Call 0141 331 2332
Stay in touch with Yuill + Kyle
Legal changes can have a dramatic impact on you and your business. To ensure you are kept up to date with the latest developments and have the knowledge to make timely, effective decisions, please sign up for our free updates.