2019 has started with great pace. Already in May and every month is getting busier. Companies that in the past had never suffered from slow payers and now finding they are beginning to experience what many have for sometime.
We note from various company accounts that they are falling short of expectations. Is it BREXIT that is causing this down turn? It is causing uncertainty in the market place. It would seem whatever business sector you are in, there are problems. At debt recovery we are finding that more often than not debtors are not paying until the SUMMONS lands on the mat.
Rental debt not surprisingly is on the increase, it is the fastest growing debt sector in the United Kingdom. It is also the most difficult debt to recover. The very nature of the beast makes it almost unrecoverable.
We say everything is on the side of the debtor. Not only can a tenant get away with not paying months of rent. The Landlord is then stilted in how he can regain the possession of his property. To cap it all, it takes months and costs a considerable amount of money. The authorities need to understand that there are many tenants out there that would benefit from the Landlords being paid directly by the authorities rather than putting the funds in the tenants pocket. They just don’t pass it on. Then there is NO problem with the rent and possible eviction.
To be honest is it better in the private rental sector?……..not always. Landlords take references and if necessary more references. If in doubt a good Guarantor. If the debt is not paid at least have the Guarantor to fall back on. Alternatively 6 months upfront. If in doubt call us: +44 (0) 1172 560 000
e: customer.support@debtrecovery.co.uk
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