Contact our debt recovery specialists. Call 0141 331 2332
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.
Debt Recovery at Scots Law 2018
Stephen Cowan, Managing Director of Yuill + Kyle, is chairing this timely conference at BT Murrayfield which will provide delegates with a thorough examination of current issues.
Do you want to grow your business by improving cash flow?
Join us at our debt recovery seminar where Stephen Cowan, Managing Director of Yuill+Kyle, will explain the techniques that all business can apply to improve their cash flow and become more profitable.
This is a dynamic time to be working as a practitioner in debt recovery – the new simple procedure has been in place for some time, and the Accountant in Bankruptcy has published its proposals on how to enhance and improve the Debt Arrangement Scheme. What’s more, the UK’s impending departure from the EU poses complications for existing regimes for debt recovery across jurisdictions.
It has been reported in ‘Scottish Financial News’ that Scots who pay off outstanding debts could continue to be penalised because the authorities are not being informed of payments, the Registry Trust says.
Most creditors are familiar with the Late Payment of Commercial Debts (Interest) Act 1998 which entitles them to interest for late payments and the right to claim reasonable debt recovery costs, unless the supplier has acted unreasonably. In addition to the foregoing creditors can also charge compensation for the recovery of a debt. The Late Payment of Commercial Debts Regulations 2013 provides “If the reasonable costs of the supplier in recovering the debt are not met by the fixed sum, the supplier shall be entitled to a sum equivalent to the difference between the fixed sum and those costs”.
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
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