Category: <span>Late Paying Customer</span>

Preventing Debt in Business

Preventing debt in a business is a critical aspect of financial management that can help ensure long-term sustainability and profitability. Here are key strategies to avoid accumulating excessive debt: Effective Financial Planning: Start with a well-thought-out business plan that includes realistic financial projections. Set clear financial goals, create budgets, and regularly monitor your financial performance…




Does Debt Die With You?

What happens to debt when you die? When you pass, your unpaid debts are not forgotten. It’s the executor of your Will that is legally obliged to distribute any remaining debt among rightful creditors. But be warned – if a debt exceeds the value of an estate it can leave those behind unable to make…




Cost of living increase

A recent article rom the BBC has suggested that millions now have no savings as prices soar A quarter of UK adults have less than £100 set aside in savings, a survey suggests, leaving them vulnerable to rising and unexpected bills. The lack of a financial safety net means many have to borrow money to…




Retail Home Shopping

Consumers don’t need to venture outside of their front door to shop for home, personal, gifts and gardening items. There are 24 hour television channels dedicated solely to the home shopping audience. The internet also serves as an easy way to click a shopping basket full of items that, many times, are bought on a…




Buy now, pay later grocery schemes are a ‘debt trap’ for struggling families

UK regulators say the latest surge in interest-free credit does not offer enough protection for those who are slipping into debt. Families hit by the cost-of-living crisis are being targeted by credit firms offering “buy now, pay later” deals on weekly groceries, pet food and hot drinks. Shoppers are urged to spread their payments for…




The truth about getting out of debt

For a lot of people, getting out of debt seems impossible. But it’s not – you just need to know what to do and where to start. In this blog post, we’ll talk about the truth about getting out of debt, and give you some tips on how to get started. So whether you’re struggling…




Warning as millions of taxpayers owe money to HMRC – are you affected?

TAX debt is now more than double pre-pandemic levels with the National Audit Office (NAO) today warning the HMRC may struggle in dealing with the workload of collection. Up to 2.4 million taxpayers are thought to be in debt to HMRC since the pandemic with a total debt of £42billion in September according to the…




What should a late payment letter include?

Late payment or debt recovery letters as they are sometimes called can be an effective way to recover debts if they are put together correctly. Here’s some advice on how to compile your own letter and what and how much to include. Before we get started it is also worth noting that you may need…




‘Severe arrears’ now just cause for bailiff-enforced evictions

There’s been a further tweak to the eviction controls introduced in England for the duration of the lockdown, lasting until December 2. There has been substantial publicity for what is effectively a ban on evictions, which followed a letter from government to bailiff authorities asking them not to en force possession cases during the lockdown….




Five rules bailiffs have to follow when they visit homes following the pandemic

Bailiffs are now able to approach debtors’ homes over repayments for fines, traffic offences, unpaid council tax and other outstanding penalties. The guidance, which has been published by the Ministry of Justice, outlines that goods can still be seized during the pandemic. But the procedure of bailiffs coming to visit people’s homes is now different from…