Paving the way for cross-border debt recovery

An initiative by the European Commission to help businesses recover millions of euros that are currently lost each year in cross-border debts has now received the backing of the European Parliament. The proposed European Account Preservation Order will help ensure that businesses recover these cross-border debts by allowing creditors to preserve the amount owed in […]

Fewer debt cases in Scottish courts

There has been an 11% drop in the number of debt cases raised in Scotland in the financial year 2012-13, compared to 2011-12, according to the latest statistics published by Scotland’s Chief Statistician. In total there were 35,900 debt cases raised – almost half the total number of civil law cases brought to court. Debt […]

Scottish Parliament passes debt reform Bill

Changes to the rights of Scottish creditors and debtors are on the way, following the recent passing of the Bankruptcy and Debt Advice (Scotland) Bill by the Scottish Parliament. According to the Scottish Government, the Bill is designed to balance the rights of those in debt with the needs of creditors and businesses. Its provisions […]

Recovering debts across European borders

Businesses and individuals who are recovering debts from another EU country should find the process easier if new draft European legislation comes into effect. MEPs and the European Council recently agreed a draft law that will allow people chasing debts to issue an order via a bank to block a debtor’s bank account in another […]