Debt Recovery Articles

Make the Debtor Pay

There is nothing more frustrating for those running an enterprise than winning the business, delivering the work and then failing to get paid for it. Those who are late in paying and those who refuse to pay cause so much frustration and worry for businesses. But with the help of a specialist, businesses can start to tackle these problems and turn around a negative situation to something that it is much more positive.

Enforcement of a Judgment – a brief overview of the options available

Obtaining a County Court Judgment may be just the tip of the iceberg when seeking recovery of what is owed to you. Throughout this article, we will provide you with a synopsis of the potential options available to you when considering the enforcement of a Judgment.

Forever in debt?

There is nothing more frustrating for those running an enterprise than winning the business, delivering the work and then failing to get paid for it. Those who are late in paying and those who refuse to pay cause so much frustration and worry for businesses. But with the help of a specialist, businesses can start to tackle these problems and turn around a negative situation to something that it is much more positive.

Minimise debtor days with effective credit control

A recent change in the law, spotted by one of our Wills and Probate Solicitors in Today’s Wills and Probate, has outlined new compliance standards for those in the Funeral Plans sector. The move, which will see new regimes set in place by the Financial Conduct Authority, will change the way funeral planners market themselves, set out plans with customers and outlaw the use of commission.

Directors Warning!

As a director, do you know the risks surrounding your personal liability? 

It is a well-known principle that a limited company is a separate legal entity and distinct from its directors or shareholders. As such, the company will normally be treated as solely responsible for the debt it incurs and the obligations it enters into. 

This article will highlights some of the main ways in which a director may find himself personally liable for the debts and obligations of his company, in particular the principle outlined in the case of Contex Drouzhba Ltd v Wiseman [2007]. 

Communication is Key

In our latest article on debtors and how to deal with them, Else Solicitors’ Laura Charles looks into the importance of communication in the legal process. 

Director guarantees/personal guarantees

When you supply a limited company, do you ask one or all of the directors to sign a personal guarantee?

If you have a signed Personal Guarantee, then you can pursue the director personally. This will only really get you your money back if the director themselves have cash or assets so we would always advise ensuring you do your due diligence and familiarise yourself with the financial status of any director you wish to engage in this way.

Debtors And Their Details

We at Else Solicitors have pulled together some things to consider before starting a claim. In Part 3 of our series, we discuss Address Details. Where your debtor is an individual or sole trader and you are not 100% sure of the address details you have, it may be wise to consider instructing us to perform a trace. We do not offer this service ourselves but will request this from a third party tracing agent and the cost is reasonable with many agents offering a no trace no fee service.