Tag: <span>Late Payments</span>

Dec 01 2022 1st December 2022 28th November 2022 by admin

Late Payment – what are my rights if a supplier refuses to pay on time?

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As a small business owner, getting paid on time for all your transactions is essential. A late payment to a small business affects the business in many ways, from potentially not being able to pay staff or not being able to pay rent on time. What is the Late Payment of Commercial Debts (Interest) Act…

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Aug 23 2022 23rd August 2022 7th November 2022 by admin

Home visits from debt collectors

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Your creditors can use different ways to get you to pay your debts. One way is to send a debt collector to visit your home in person, although they will often call or write to you first. You are not obliged let a debt collector into your home and they don’t have the right to…

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Jul 23 2022 23rd July 2022 12th September 2022 by admin

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

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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…

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Nov 18 2021 18th November 2021 18th November 2021 NoComment by admin

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

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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…

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Oct 27 2021 27th October 2021 27th October 2021 NoComment by admin

What should a late payment letter include?

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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…

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Aug 10 2020 10th August 2020 27th August 2020 NoComment by admin

How to approach rental arrears in a COVID world

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In the wake of COVID-19, local councils and housing providers have been jolted into finding new ways of delivering services and interacting with their tenants – especially when it comes to income collection and rent arrears. Increasingly, we’re seeing providers employ innovative strategies while moving from debt recovery to support provision. Behavioural insights tell us…

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Jun 20 2020 20th June 2020 12th June 2020 NoComment by admin

Top 5 excuses for late payments

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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…

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Jun 12 2020 12th June 2020 12th June 2020 NoComment by admin

The history of debt collection

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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…

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May 12 2020 12th May 2020 12th May 2020 NoComment by admin

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

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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…

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Jan 15 2020 15th January 2020 15th January 2020 NoComment by admin

How and why your business should consider tightening up its credit terms

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Tightening up your business’ credit terms could help to save you time and money on chasing up late and non-paying customers. Businesses across the UK are facing serious financial consequences due to the late payment culture that is leaving them waiting months for the money owed to them. If you’re struggling to get your invoices…

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