Category: <span>Late Payment Law</span>

If you are in debt, seeking help can provide a range of benefits

If you are in debt, seeking help can provide a range of benefits. Here are some of the ways that getting help can be beneficial: Reduced Stress: Debt can cause significant stress and anxiety, especially if you are struggling to make ends meet. Seeking help can provide a sense of relief and reduce your stress…




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…




Paying bills and expenses after someone dies

When someone passes away, settling their estate involves discharging all outstanding debts and managing expenses related to their death – such as funeral costs. It’s important to ensure that a deceased person leaves behind a legacy of balance for those left behind. When someone has died, their estate is liable for paying their outstanding debts….




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…




UK credit card debt hits record high

Consumers borrowed £1.5bn net in February — the highest monthly figure since statistics began in 1993 UK consumers borrowed a record amount in February, with some economists saying it was a sign of the cost of living crisis hitting wallets even before Russia’s invasion of Ukraine pushed energy prices higher. Individuals borrowed a net £1.5bn…




Christmas Shopping Debt

Christmas shopping to leave Brits with four months of debt The average Brit gets into £439 of debt over the Christmas period, which can take four months to recover from. According to debt management company Lowell, more than a fifth (22 per cent) of British consumers are feeling pressure to spend beyond their means this…




Buy now pay later: How does it work?

More people are opting to use buy now pay later (BNPL) services for their shopping than last year, according to new data revealed to Panorama. An estimated 15 million adults of all ages in the UK are actively using this form of credit, an increase of more than two million since the start of the…




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…