Archives for Creditor Advice

Unveiling Charging Orders: How They Strengthen Debt Recovery Efforts

Unveiling Charging Orders: How They Strengthen Debt Recovery Efforts

August 30, 2023 | No Comments

As a debt recovery specialist, I understand the challenges creditors face when attempting to recover outstanding debts. Charging Orders can be a game-changer, providing a legal means to secure debts against a debtor’s property. If you’re ready to enhance your debt recovery strategy, read on and discover the potential of Charging Orders. And remember, I’m here to provide expert advice tailored to your unique situation, so feel free to reach out. The Charging Order Process Initially, an application is submitted to the Courts using a two-pronged process. This usually takes around 6-9 weeks to finalise. Application: As a debt recovery
Read More

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
Read More

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
Read More

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 tweeted 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
Read More

8 Tips For Small Business Owners With Late Paying Customers

8 Tips For Small Business Owners With Late Paying Customers

March 6, 2019 | No Comments

Some Small Business Owners I’ve known unfortunately shoot themselves in the foot by issuing out maximum credit terms. I understand, it may be one of your biggest Customers – and you need to keep them happy … … but if you offer them terms, they are unlikely to pay within the normal 30 day term period. Are you doing enough to avoid these pitfalls? If you’re just starting out in business or you need a better framework to govern your bad or late paying customers, here are 8 tips for you: Deposits If at all possible, get your Customers to
Read More

What Is A Bankruptcy Petition And How Can You Avoid It?

What Is A Bankruptcy Petition And How Can You Avoid It?

February 27, 2019 | No Comments

In the UK, a debt of £5,000 is the minimum needed to serve a Statutory Demand on an individual. If ignored, this leaves you with the option to start bankruptcy proceedings. So, what is a A Statutory Demand? It’s an official document that serves as a notice to the debtor, (the person that owes you, or your company, money). Once registered, a Process Server is hired to serve (or sub-serve) notice on the debtor. Once served, it gives the defaulting party (your Customer, or ex-Customer) 21 days to come up with the funds to clear the debt they owe. Bankruptcy against
Read More