Debt Recovery

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.

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.

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.

Debtors, Trading Entities and Making a Claim

Do you know your client’s correct trading entity? Have you been invoicing your client correctly?  Tying in with the “Know your Debtor” series, making sure you are invoicing correctly plays an important part should the relationship with the customer take a turn for the worse and end up at the Court Proceedings stage.  We have had instances where clients have been invoicing their debtors as a limited company (when they are not) or not as a limited company (and they should be).  

Do you know your Debtor?

In the first article in a new debt recovery series from Else Solicitors, Laura Charles looks at the importance of Knowing your Debtor. 

Things to consider before starting a claim – Part 1 Name

Before commencing Court Proceedings, there are certain things to consider as even getting the basic information wrong can cause delays and further costs to you down the line. 

So, in this series of “Do you know your Debtor” – Part 1 is dealing with the name.