Lamport Bassitt Solicitors - Legal News - Debt recovery specialists 'having a tough time'


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Debt recovery specialists 'having a tough time' Because of the ongoing economic difficulties facing businesses in the UK, debt recovery specialists are having a difficult time, it has been suggested. According to Crain's Manchester Business, such industry practitioners have struggled because they only get paid if money is taken from those who owe it. It added: "This happens less often when debtors go bankrupt or are unable to sell their houses to pay off creditors." The publication cited the example of the the Moorcroft Group - which is owned by the McRoberts family and has seen its combined annual take decline by more than 50 per cent this year. Debt collectors have also been finding it increasingly hard to raise finance to buy debt portfolios, it noted. Writing on the subject of debt recovery in Fresh Business Thinking recently, expert Karl Wilson said companies must do their homework on clients before entering into agreements with them, as getting money off them may prove difficult. Related Articles: 11/5/2012 - Queen's Speech legal reforms welcomed 17/4/2012 - Further regulation to encourage family mediation: justice minster 2/4/2012 - Fuel tanker driver dispute talks scheduled for Wednesday 23/3/2012 - Landowners urged to take more responsibility for falling trees 22/3/2012 - Justice reforms move a step closer More Dispute Resolution News