Huge Increase In Debt Recovery Action Reported

Thu, 20 Aug 2009

More and more Britons are being taken to court over unpaid debts, according to debt recovery solicitors, Lovetts.

The firm has revealed that the amount of outstanding money it chased through the courts between April and July this year increased by a massive 105 per cent over the same period last year.

The volume of debt pursued through letters before any recovery action was taken also increased in the second quarter, rising by 38 per cent year-on-year.

Charles Wilson, Lovetts chairman and managing director, said: "Claims through the courts are a last resort and yet we have seen a massive increase in the volume of debt being pursued."

"This clearly shows an increased focus on getting debts paid, which should encourage other businesses to take similar action."

Lovetts has been operating in the debt collection industry for over 20 years. In 1994 it became the first law firm to become a Public Limited Company.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.