BONALLACK & BISHOP - SALISBURY LAW FIRM - PRESS RELEASE

4th April 2008

Bad Debts Rise

In 2007, judgments against businesses for bad debts in England and Wales reached their highest level since 2001 increasing to 185,395 according to the latest statistics from the Registry Trust, the company which collects judgment information in the UK. 

Issuing the annual statistics, Malcolm Hurlston, chairman of Registry Trust, said: 

“The next 12 months should be interesting. I certainly expect the upward trend in commercial judgments to continue in 2008 which promises to be a tough year for British businesses, especially in the SME sector against whom most of the commercial judgments are made." 


Commenting on the latest figures, Tim Bishop, senior partner from Salisbury lawyers Bonallack and Bishop, said "It is now more important than ever for each and every business to tighten up their credit control policies. In the last couple of years we have significantly improved our own credit control system which has made a significant difference to our cash flow and the growth of the business. We are happy to share with local businesses our practical tips on improving credit control and debt collection which are available in a free downloadable webinar on the subject from our website Credit Control and Debt Recovery ."