Debt Recovery News & Articles

Daniels Silverman shocked at Government’s decision on pre-pack administrations
Edward Davey announced yesterday that the Government is to take no action to strengthen the legislation governing pre-pack administrations. This is extremely disappointing, especially when their own 18 month consultation revealed how unfair they can be on unsecured small business creditors.
Cash Must Remain King
As difficult trading conditions look set to continue for some time, cash must remain king and keeping a tight rein on debt is more crucial than ever.
The high-earning middle classes are tightening their belts
Andre Reid was forced to pawn his Mercedes when the economic downturn left him temporarily without the money to pay the fees at his son’s private school.
Huge increase in demand for debt recovery from automotive sector
Credit management and debt collection company Daniels Silverman has seen a staggering 1575% increase in the number of enquiries it has received from businesses in the automotive sector from June 2010 to June 2011 signifying a massive deterioration in business conditions for the industry.
How to....spot a bad debtor
Hotel and catering companies have been hit hard by the financial crisis. At Daniels Silverman we have seen a steady rise in the number of suppliers and hotels seeking our help with debt recovery over the last year. Serious cash flow problems have forced some businesses into bankruptcy and many others are on the brink of collapse as they do not have enough funds to continue. Businesses normally become insolvent as a result of cash shortages and as with anything, prevention is better than cure so identifying early signs of stress is critical.
Daniels Silverman sees 250% increase in consumer insolvencies
Credit management and collection company Daniels Silverman has seen a massive 250% increase in the number of consumers it is collecting debts from becoming insolvent through bankruptcy or individual voluntary arrangements (IVAs) in the last 6 months.
Petition launched for tougher legislation on pre-pack administrations
Credit management and collections company Daniels Silverman has launched an online petition campaigning for statutory force to be given to the Statement of Insolvency Practice (SIP 16) along with penalties for non-compliance, to help prevent abuse of the pre-pack administrations system by companies avoiding debt.
Mastering recessionary cash flow
As a debt collection agency, we have heard every excuse in the book for withholding payment. The great British weather, often too hot or too cold, is blamed for dampening profitability and small and medium-sized enterprises abilities to pay; we even had a remembrance garden blame a shortage in deaths for its lack of cash flow. The most common reason, however, is simply that the business is awaiting payment from its client.
Daniels Silverman calls for tougher regulation of Insolvency Practitioners
Credit management and debt collection company Daniels Silverman has called for tougher regulation of Insolvency Practitioners (IP) in its response to the government’s Consultation on Reforms to the Regulation of Insolvency Practitioners, which closed on 6 May.
Daniels Silverman service to tackle private schools debt
Credit management and debt collection company Daniels Silverman has established a dedicated private schools team in response to the growing number of private educational establishments that are turning to them for help with fee arrears.
Threat of insolvency offers fast debt recovery
As the cost of County Court action soars, credit management and debt collection company Daniels Silverman is advising small to medium sized enterprises (SMEs) to consider threatening insolvency as a means to recover debt.
What every FD should know about debt
Chasing monies owed is a time-consuming business - but do not give up
Insolvency law not protecting creditors ‘burnt’ by phoenix companies
A recent insolvency survey among SMEs by leading commercial debt recovery company Daniels Silverman has found that a massive 96% of businesses believe that insolvent companies should not be allowed to escape debts by transferring assets to a new company, operating under the same directors and in a similar guise, under pre-pack administration – known as ‘phoenix’ companies.
Review T&Cs to protect against payment disputes
Many small and medium sized enterprises (SMEs) are leaving themselves open to payment disputes because of ineffective terms and conditions (T&Cs). This significantly increases the likihood of a late payment becoming a bad debt. And with late payments and debt levels at an all time high SMEs cannot afford to ignore common pitfalls.
10% Rise in Company Insolvencies in 2011
Carole Hughes, managing director of leading credit management and collections agency Daniels Silverman, speaking on recent predictions of a 10% rise in company insolvencies in 2011
Increased financial pressure on day-care nursery sector
Daniels Silverman canvassed its nursery clients on their concerns for 2011 and found 86% expect the year ahead to be financially tougher than 2010 due to increased tightening of household finances. It discovered that 82% of parents had expressed concerns about their financial situation and predicted a rise in payment arrears as a result.
Daily Mirror Article - How to speed up payments from customers
Cash is king and as trading conditions remain tough for small businesses, keeping a tight rein on outstanding invoices is more crucial than ever.
SMEs neglect credit checks at their peril in the rush before Christmas
Carole Hughes, managing director of Daniels Silverman, warns SMEs to be diligent and to perform customer credit checks in the run up to Christmas.
Debt collector giving the industry a new image
Alistair Houghton from the Liverpool Daily Post meets Carole Hughes, managing director of Daniels Silverman
Thousands of new business start-ups fail due to poor cashflow management
Thousands of new business start-ups fail due to poor cashflow management
Managed fuel payment debt collection scheme has 88% success rate
Fuel retailers represented by oil industry membership organisation, the British Oil Security Syndicate (BOSS), are recovering 88% of money owed to them for fuel following “no means to pay incidents” at service stations, since partnering with leading debt collection agency Daniels Silverman.
New EU late payment rules to protect SMEs
New rules to introduce maximum payment periods for public and private sectors should be quickly implemented and properly enforced to shield European businesses from the strain of late payments says Carole Hughes, managing director of debt recovery agency Daniels Silverman.
Daniels Silverman joins the Credit Services Association
Daniels Silverman joins the Credit Services Association as demand for debt collection rockets