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Debt Collection: Why a Letter Before Action Is So Effective

Businesses often wonder how effective a Letter Before Action (LBA) actually is compared to sending their own warning letters to their debtors. After reading this guide you will uncover the true reasons as to why LBAs are so effective

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4 Reasons Why Your Debtor Isnt Paying You on Time

Alot of businesses find themselves wondering why their debtors arent paying them on time. This article will outline 4 reasons why your debtor isn't paying you. We understand that with the ever changing economy, some business will go through tough phases in their financial year which could lead to invoices not being paid. However, theres usually underlying reasons as to why they dont pay you on time. 

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The Famous Four reasons to outsourcing debt recovery

 

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Lovetts Solicitors appear at the Business Show on 16th and 17th May in London

Lovetts Solicitors exhibited at The Business Show held at the London Excel centre on 16th and 17th May 2018.

It is the largest business show in Europe hosted by many growing businesses in the  UK .  The show provides a great opportunity  for businesses of all sizes to network with over 25,000 aspiring, developing and expanding companies. It provides the opportunity to sell your products and services to these highly targeted visitors on a face to face basis. 

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Lovetts Solicitors star in ITN production ‘Credit Champions’ in collaboration with the Chartered Institute of Credit Management (CICM)

Debt recovery specialist Lovetts Solicitors have recently been featured in a new ITN productions programme titled ‘Credit Champions’.  The film was commissioned in partnership with the Chartered Institute of Credit Management (CICM)and was introduced by national newsreader Natasha Kaplinsky. The programme promoting excellence in credit management and raising awareness of its vital role within the business community was unveiled at the recent Credit Summit event.

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Lovetts Solicitors Named UK Debt Recovery Law Firm of the Year

Lawyer Monthly, a corporate law based publication which boasts a broad global readership, has announced Lovetts Solicitors as the UK Debt Recovery Law Firm of the Year. This prestigious award is presented to a firm that has provided an outstanding service to their clients in the previous twelve months, not only through expertise and response to changing demand, but also with a dedication to innovate the sector they are in.

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What is the Liquidation Process Carillion is Currently Going Through?

On Monday 15th January 2018 the news broke that Carillion, the giant construction firm and government contractor, was going into liquidation. Unlike the process of administration, where the company in question is able to continue trading whilst viable parts of the business are sold off in an effort to ultimately stay afloat, liquidation means a company ceases trading immediately and steps are taken to raise as much money as possible  to settle its debts.

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Are you losing thousands of pounds by failing to use the Late Payment law?

Late payment remains one of the biggest problems for UK businesses. However, late payment law is available to protect businesses from late paying customers.

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Unpaid Debts - How to Issue a Legal Claim Through the Court

When customers do not pay your invoices, it can be difficult to know how to proceed. If your pre-action correspondence has not resulted in payment, it is usually worth taking legal action to ensure your company is paid. Let's take a look at how legal debt recovery works. 

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How Does the Recent UK Interest Rate Rise Impact Late Payment Law?

On 2nd November 2017, the Bank of England increased the base rate of interest from 0.25% to 0.5%. This is the first time that interest rates have been increased in more than a decade.

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How Do I Assess The Effectiveness Of My Third-Party Collection Agency or Lawyers

Written by: Charles Wilson - Lovetts Solicitors, Chairman

The many advantages of using a third party collection agency or law firm to recover debt have been well documented over the years, and although there are also some benefits to having an in-house collections team, more and more companies are using third parties today than ever before.

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The New Pre-Action Protocol For Debt Claims - What Is It? And How Will It Affect My Business?

As many of you will no doubt already be aware, the Ministry of Justice has released a new Pre-Action Protocol for Debt Claims that comes into effect on October 1st, 2017.

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