Our own industry specific data plays a pivotal role and can lead to credit limits and scores being reduced or removed when other mainstream agencies are still offering substantial limits & scores. Our credit limits and credit scores are calculated by taking the opinions of two of the major credit reference agencies and then applying […]… Continue Reading
Director Resignations – When a director resigns, it can present challenges such as knowledge loss and transitional risks.Changes in leadership can sometimes result in alterations to credit limits, impacting the financial stability of the business. It’s essential to consider the history and background of the departing director. Warning signs may arise if the individual has […]… Continue Reading
Every supplier of credit information will have invested in different algorithms to attempt to produce the most relevant credit limit and credit scores. Unfortunately this is never going to be an exact science. The majority of credit reference agencies will take mostly the same factors into account when suggesting credit limits but how they apply […]… Continue Reading
There are now four, not three tracks for cases in the civil courts to be assigned to: Small Claims Track Fast Track Intermediate Track Multi Track For Amounts Up To £10,000 For Amounts Between £10,000 & £25,000 For Amounts Between £25,000 & £100,000 For Amounts Over £25,000.*Amounts over £100k will be heard in the High […]… Continue Reading
The Insolvency Service has released the latest figures for February 2024, shedding light on the state of insolvencies in the UK. Here’s a breakdown of the numbers: Registered Company Insolvencies Breakdown: In February 2024, a total of 2102 company insolvencies were recorded, with the following distribution: 1707 Creditors Voluntary Liquidations 217 Compulsory Liquidations 166 Administrations […]… Continue Reading
“In our credit management procedures, we engage with two agencies for credit information. One is a mainstream agency, and the other is Top Service because of their construction industry-specific information. Recently, when assessing a potential customer seeking a credit account, our primary provider’s data seemed satisfactory at first glance. However, upon cross-referencing with Top Service’s […]… Continue Reading
What sets us apart? Our specialised focus on the construction industry and access to exclusive trading experience data make us an invaluable resource for companies operating in this sector. As the only credit reference & debt recovery agency in the UK exclusively for the construction sector, Top Service is dedicated to providing a one-of-a-kind credit […]… Continue Reading
MJG Timber Ltd is a wholesale quality timber trade supplier, they decided to join Top Service Ltd in October 2023 to help manage risk, minimise debt & maximise cash. … Continue Reading
Introduced in 2020, the Restructuring Plan builds on the principles of a Scheme of Arrangement (A compromise or arrangement between a company and its members or creditors), but importantly prioritises the rights of creditors who stand to benefit from the terms of the plan, allowing them to take precedence over those classes of creditors with […]… Continue Reading
A message to Top Service members from Emma Reilly FCICM, CEO at Top Service Ltd & Credit Expert… Continue Reading
