Company Directors Behaving Badly – Part 2

Company Directors Behaving Badly – Part 2

May 15, 2019 | No Comments

In last week’s blog I talked about the actions Creditors could take in relation to the Companies Act 2006. This week, I’ll be covering why the CDDA (Company Directors Disqualification Act 1986) was brought into contention, and the restrictions that can be imposed on fraudulent directors. This 2014 article from the Financial Times shows the type of nonfeasance is unlikely to be tolerated. Why the CDDA Thankfully, the vast majority of Directors have a fiduciary duty to act in the best interests of the company that they are representing. The good value that the Shareholders, it’s Staff and the overall
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Company Directors Behaving Badly – Part 1

Company Directors Behaving Badly – Part 1

May 8, 2019 | No Comments

Over the next couple of weeks I’ll be looking at Creditors rights. What they can do to keep on top of their credit checks and what restrictions are placed on Directors who continue acting without making changes. This week I’ll be exploring what Rights Creditors actually have. For businesses large or small in respect of trying to get their debtors to comply with their needs. … and should these needs be part of a Final Demand Process? Although not widely explored due to the cost of investigating and taking action, Creditors have the facility to issue a warning to the
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Why You Should Be Charging Late Fees

Why You Should Be Charging Late Fees

May 1, 2019 | No Comments

Managing a steady cashflow is never easy. With so many business attributes in abundance – it’s essential to have some sort of leverage to ensure your business gets paid. … and to deter would be non-payers. Here are 5 key reasons why the Late Payment of Commercial Debts and Interest Act 1998 (UK only) – ( The Act ) are crucial in getting your business debts paid. … and when and how you should use it. 1) Working Capital Many business owners think that generating Sales is enough to promote the overturn in your Balance Sheet credentials. However, by introducing
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Why Dealing With Complaints Makes Financial Sense

Why Dealing With Complaints Makes Financial Sense

April 24, 2019 | No Comments

Having been committed to various roles in ‘Recoveries’ for the last decade or so … The sceptic in me always does a rigorous check to see if all angles have been covered before legal action is even considered. Now, you might be thinking – “Yes, I’ve covered everything All my letters/calls have been ignored.” Are you absolutely, 100% sure? As a Recoveries Consultant, dealing with the plethora of cases, I can tell you that around 9 out of 10 cases eventually cause or lead to problems. Out of those 9, usually 3 of those reverberate around a complaint of some sort
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Through The Looking Glass: When Debt Breeds Fear

Through The Looking Glass: When Debt Breeds Fear

April 17, 2019 | No Comments

Sitting in between my Clients; ‘Mrs’ on the left and ‘Mr’ on the right. Whilst talking, every so often ‘Mr’ would look over his shoulder, past the Mercedes on his driveway and out into the street. The same pattern would continue throughout through the meeting. Eventually I couldn’t help but agitatedly ask – “Why do you keep on doing that?” It turns out, it was all off the back of the advice I had given him days earlier. Here was a husband and wife team, with a substantive amount of business debts that had built up. If they were a
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Wow, what do you mean you’ve gone bust?

Wow, what do you mean you’ve gone bust?

April 10, 2019 | No Comments

Wow Air, Primera Air, Flybe, XL….. What do the above have in common? Well, they’re budget airline carriers who operate in a no-frills capacity. It’s estimated that around 30% of airlines who start to operate go bust within the first two to three years of trading. But why? Simply because of high operating costs, broken down primarily with large fuel costs and high end operating leases, wage bills leaving many of these airlines scraping the barrel of their overdraft. This article from the Independent showcases that if we, as consumers, aren’t careful, we too could get stuck in the middle
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Why Signing On The Dotted Line Could Cost You

Why Signing On The Dotted Line Could Cost You

April 3, 2019 | No Comments

B….t or B…….t As you can see one gap is bigger than the other….I let you fill in gaps 😊 Put quite simply, UK politics has never experienced a gap like last couple of months. There’s a tendency to leave things right up until the last month for individuals of any party to agree to the deal. When we do things under pressure, it’s human nature to start making mistakes, as we are fearful of time running out. Whilst the majority of us are fed up with what’s going on in Westminster, it’s evident that the issue that arose was
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6 Steps For Dealing With Suppliers That Have Restructured

6 Steps For Dealing With Suppliers That Have Restructured

March 27, 2019 | No Comments

I previously worked for two companies that had gone through major restructures or name changes. This meant: a complete change in internal processes a drive towards different elements changes to internal bureaucracy This lead to a more streamlined approach, getting things done quicker, and was sometimes necessarily brutally for survival. … but it can come at the expense of upsetting their Customers. During this process you may feel as though your Suppliers have been ignoring you. If your supplier is a large one, you may feel that you have not been successful in getting your point across. There are a
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3 Steps To Avoid Your Creditors Taking Legal Action

3 Steps To Avoid Your Creditors Taking Legal Action

March 20, 2019 | No Comments

What is a HCEO (High Court Enforcement Officer) and what do they do? Britain’s civil police force will, by any legal means necessary, enforce you to give up assets to pay for a CCJ, or a Judgment Debt. Often, this could have been avoided many days/months/weeks before. A few years back, I about the epidemic that was striking Britain, where Court Orders granted were unpaid. What some people forget is that many creditors will give the debtor (those at default on their Account with their Creditor) a chance to remedy their wrongs. They might do this through an abundance of
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Why Embracing Technological Change Is Vital To Business Growth

Why Embracing Technological Change Is Vital To Business Growth

March 13, 2019 | No Comments

Strikes, Ideological misfits, “colossal mistakes”, and monumental cost savings are now part of our global thoroughfare in order to improve business efficiency. The chaos that ensues when train companies strike is unfathomable. However, as this becomes more frequent, Senior Operations have some sort of idea as to the crowd numbers to expect to get London moving. What was the reason for those strikes? London Underground wanted to streamline its operations and bring in ticket-less counters, predominately in a bid to save costs. … with technological advances, it became possible. Change isn’t nice, but it’s necessary to survive To a lesser
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