Despite there being a County Court Judgment (CCJ) awarded against them, all too often a debtor fails to make payment and enforcement action becomes necessary. In this article we look at the different types of enforcement and consider the circumstances that would make a certain approach most appropriate. We also discuss the process and cost […]
When you issue proceedings against a debtor, they have various ways in which they can respond to you and the court. Generally, most money claims are issued through the Money Claims Online service. Following submission, the claim tends to be issued the next working day and then posted out to the debtor by the court. […]
A statutory demand is a formal document that a creditor sends to a debtor to demand payment of an undisputed debt. Statutory demands can be served on either an individual or company. To serve a statutory demand, an individual must owe at least £5,000 and a company must owe £10,000 (this was previously £750 but […]
Debt collection can generally be split into three different stages: pre-legal, legal, and enforcement. The ‘Pre-Legal’ Stage Pre-legal has quite a wide-ranging definition; generally, however, it refers to any action being taken before proceedings are issued and can include emails, texts, letters, and phone calls. This includes any actions taken in-house, by debt collection companies, […]
Despite it being very cost effective to begin a Small Claims matter (typically a claim with a value up to £10,000) and to request a Country Court Judgment (CCJ) in uncontested matters, there are costs risks if the debtor files a defence. After a defence has been filed and if the matter is allocated to […]
Whether you are a business owner or a debt recovery agency, collecting unpaid debts can be exasperating and time-consuming. Debt-Claims Solicitors removes all the challenges associated with collecting unpaid invoices by providing users with a solution developed for SME’s in mind. Gone are the days of having to write off thousands of pounds in unpaid […]
Wondering how much does it costs to collect a debt? More often than not, it will cost you nothing to collect money owed to you. Going further, you may also be surprised to learn that the amount recovered can often exceed what was originally owed – this is due to your general entitlement to claim […]
Claiming interest on invoices which are paid late or remain unpaid is not only an effective method of minimising delays on payment, but it also offers an element of compensation to you. The latter reflects that had you been paid on time, then you could have reinvested the money that is owed to you or […]
The Late Payment of Commercial Debts (Interest) Act 1998 (as amended by subsequent regulations) is a particularly important piece of legislation for parties who contract during the course of a business – this includes companies, sole traders, partnerships, and charities among others. Often referred to as just the Late Payment Act or Late Payment Compensation […]
