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Why Draft Winding Up Petitions Get Debts Paid Faster Than Statutory Demands

Draft winding up petitions result in payment of 4 out of 5 debts, so why wait on a statutory demand? Statutory demands, or stat demands, are usually the first stage of an insolvency process. 

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A Lesson In Debt Recovery For A Former Student

Debt recovery for the education sector is a varied and complicated issue, particularly for the higher education sector including universities and distance learning providers. Overdue payments can range from library or parking fines, to unpaid accommodation or even tuition fees. At a time when education system budgets are under severe pressure, it is of the utmost importance for any institution to stay on top of its cash flow and secure any late payments through a debt collector.

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Remember: Late Payment Debt Collection Shouldn't Cost You A Penny

 
You certainly know that chasing late payments can prove to be an incredibly time consuming and frustrating process. Credit controllers and account receivables work hard to guarantee the business has enough working capital, but with certain debts their options start running out. It is at this stage that a solicitor must be instructed to set the stage for potential legal action - at a price. 
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How To Shout The Loudest In Debt Recovery

Winding up petitions are all-too-often overlooked by businesses as an effective way to chase up and secure overdue payments from debtors.

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Debt Recovery Solicitors vs Debt Collection Agents

If you are owed money that isn’t being repaid then you are probably wondering how you can get it back. The two main options available are debt collection agents and debt recovery solicitors. But which is best?

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An Online Court: Civil Courts Structure Review by Lord Justice Briggs

 

A Civil Courts Structure Review – Interim Report published last month by Lord Justice Briggs has proposed the introduction of an online court and effectively raising the small claims threshold to £25,000.

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What Happens When I Issue A Legal Claim?

What do you think of when you think of the court process? A severe looking man in a wig bashing a gavel and shouting? A room full of clerks scribbling away with quill pens like in a Dickens novel?

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County Court Judgments Reach Alarming New Levels

There has been an alarming increase in cashflow difficulties faced by UK businesses during the past year, exceeding levels last seen during the recession. In 2015, 56% of County Court Claims to recover debt, resulted in a County Court Judgment (CCJ) because the debtor was unable to pay. This is the highest level seen in over 6 years.

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SMEs Denied Access To Justice In Court Fees Shake-Up

Access to Justice for SMEs across the UK was dealt a hard blow in recent weeks. Following a Government consultation last year, in March 2015, a new Court Fee tariff was introduced. As a result, the Court Fees for money claims to recover overdue debt from businesses rose in some cases by a staggering 622%. 

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Can I Sue Ex-Customers For Back-Compensation Over 6 Years?

In short, provided you are entitled to use the Late Payment of Commercial Debts legislation then YES! The legislation applies to any and all debts where the contract was formed within the last 6 years (regardless of whether the debt has subsequently been paid) and where you either have a clause in your contract stating that the Late Payment Act (LPA) applies

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Lovetts Client Receives Payments From Director Of An Insolvent Company

The Challenge

Our client, a lighting specialist had paid a company monies to hold stock on its behalf. The defendant, a Director of the Company, had signed a declaration confirming that the company was holding the stock paid for. The company then went into liquidation

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Lovetts publishes guide to 'bailiff and enforcement' regulations

Helping businesses prepare for a major change in bailiff and enforcement regulations coming this April, Lovetts Plc, the debt recovery law firm has created a 10 point guide on the new regime.

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