Insolvencies in England and Wales are up, now there is a surprise.
Over 25,000 in the last three months, up over 1.5% on the last quarter when are creditors going to learn.
Speaking to credit managers daily it seems they are only just waking up to the fact that they MUST tighten limits and lending now to nip the crunch off in the bud but still I see reckless lending policies and credit limit setting, poor verification of a customers details and a fear that if they come down too hard they will loose business.
Wakey wakey !!!!
Tighten up those limits now. You're lending to people the banks won't touch.
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