Debt Recovery
Six things you ought to know about..…the EU late payment directive
Posted by Shirley Moore on 25th January 2012
- What and when?
The directive came into force on 15th March 2011 and countries have until 16th March 2013 to implement its provisions. Here, a date has yet to be set but the last indications were for the first half of this year.
Bankruptcy: Is it worth it? A Creditor’s Perspective
Posted by Shirley Moore on 21st November 2011
The latest insolvency statistics (for the 3rd quarter of the year) were published at the beginning of the month. Although the number of people being made bankrupt has been reasonably steady over the year and in fact is down on last year’s figure, the statistics show a greater than 400% increase on the numbers 10 years ago.
Q&A - Enforcing against a company
Posted by Shirley Moore on 21st November 2011
Q: We’ve got a Judgment against a former customer for just over £10,000 which we’ve tried enforcing but the company occupies fully serviced premises. We don’t want the expense of winding up the company. Are there any alternatives?
Q&A - Companies going bust owing you money
Posted by Shirley Moore on 21st November 2011
Q: I have recently noticed an increase in the number of companies going bust owing us money and then just carrying on business as usual under a slightly different name. Surely that can’t be right?
Q&A - Winding up petition
Posted by Shirley Moore on 21st November 2011
Q: A company owes us over £20k and the director says he can’t pay us because another creditor has presented a winding up petition against them. Is this true and can we do anything about it?
OFT - Fair enough or OTT?
Posted by Robert Thompson on 20th January 2011
The work of the Office of Fair Trading in protecting consumer interests is valuable in a civilised society. Responsible creditors should have little to fear from measures and guidelines which often simply mirror good practice which is already in place. Yet recent developments may give cause for concern to even the most scrupulous within the industry.
Q&A - Unpaid Debts - Who am I dealing with?
Posted by Shirley Moore on 16th September 2010
We have been supplying a customer for a number of years but now he owes us several thousand pounds. When we started dealing with him he was a sole trader but he says that he set up a limited company a couple of years ago and it’s a company debt because it relates to orders in the last year. However the company hasn’t got anything and can’t pay. Is he right or can we still pursue him personally?
Testimonial
“Sources are in agreement that this top notch team is fully deserving of the recognition it gets. The team recovers both commercial and consumer debt for clients from a range of backgrounds, including financial services and insolvency practitions, with charge and credit cards a stand out specialism. The firm boast impressive sector expertise and offers a personal, flexible service to clients. A great firm and a great team.”
Chambers UK, 2010, A Client's Guide to the Legal Profession