Category: Debt Recovery

  • The pros and cons of taking legal action against late paying customers

    With two in five small business owners (40%) saying that they are taking legal action against customers not paying them on time, we consider the pros and cons of taking legal action to recover what’s owed. According to new research from Hitachi Capital Business Finance, three in five small businesses are affected by late payments (62%).…

  • Top 5 excuses for late payments

    Are you not being paid by someone or a client? We’ve put a list of ‘excuses’ that most companies use when you chase them for payment! 1. We can’t pay you until we get paid! “We are still waiting for payment from contractors/suppliers to make payment before we can pay you” 2. We sent you…

  • The history of debt collection

    Ancient debt slavery The earliest recording of how debt was dealt with goes back to 3000BC and the ancient civilization of Sumer who populated an area that is now modern-day south east Iraq. Chronicles explain how a debtor who was unable to pay a debt along with their family and servants became debt slaves. They…

  • CAN I STILL CONTACT MY TENANT IF THEY CLAIM HARASSMENT?

    In an ideal world your tenants will be respectful and answer your emails and phone calls either immediately or in a timely fashion.   Sometimes however disputes can arise leading your tenant to claim you are harassing them and spoiling their quiet enjoyment if they are a residential tenant. This then presents you as the landlord…

  • WHAT HAPPENS IF A SERVICE CHARGE DISPUTE IS TAKEN TO COUNTY COURT

    Sometimes, despite the best efforts of property managers, service charge arrears continue to be a problem in blocks where property owners find themselves in financial difficulties, or they are simply unwilling to pay. In cases where demand letters are ignored and payment deadlines missed there is often no option other than to take matters to…

  • HOW TO AVOID LATE PAYMENT DISPUTES

    While you may not encounter them often, disputes over payments can become a major problem and lead to your non-paying client or customer coming up with excuses not to pay you. To avoid this happening it is necessary to identify why these late payment disputes happen and close any loop holes that can be exploited…

  • Over Half a Million UK companies in financial distress

    A recent survey from redflaghalert has suggest that there has been a significant increase in businesses experiencing critical distress; 2,289 companies are now in this category. Between Q4 2019 and Q1 2020, the increases in certain sectors have been dramatic: Bars and restaurants: +37% Real estate and property: +21% Construction: +11% Retail: +8% Manufacturing: +8%…

  • What cash flow support is available for businesses impacted by Coronavirus?

    HMRC coronavirus helpline If you are concerned about cashflow or tax, HMRC have set up a helpline for businesses worried about not being able to pay their tax due to coronavirus. HMRC will discuss your specific circumstances to explore: agreeing an instalment arrangement suspending debt collection proceedings cancelling penalties and interest where you have administrative…