THE volume of bad debt being pursued for payment has risen to unprecedented levels, according to research by law firm Lovetts.

A survey of claims taken through the court process by the firm on behalf of clients in quarter one was a staggering 97% higher than the same quarter 2008.

The average claim value also soared by 60%. Of the claims, around 35% were for late payment interest and/or compensation.

Lovetts said it had also seen a 58% rise in the levels of debt being chased through Letters Before Action (LBA......for the full story register now for free or login below...