An increasing number of small and medium sized businesses are finding late payment and bad debts to be a serious problem. A survey by Altradius has shown that bad debt is now a problem for over 20% of SME’s; while a third are also suffering because of late payment. More...
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When we send out our second reminder letter to customers who are in arrears with our credit terms, we send out a copy of the County Court Summons which we will issue if payment is not received within seven days More...
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If a lender has six years to pursue a (non house purchase related) debt, does the six years start from the date of the last payment to the account.. More...
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My uncle has a small electrical contracting business and has carried out work for a Local Authority for over 13 years but they have been persistently late with payments. More...
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A) What should/can my partner do to limit her liability (to a maximum of 50% of the outstanding debt) especially when you consider that her estranged husband has contributed NOTHING towards maintaining their 5 year old boy who lives with us in our care? More...
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I am currently with a Debt Management Company but I am still being threatened with legal action. Can legal action be taken against me if my creditors are receiving monthly payments? More...
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I wrote a reply to a forum in the past few days in response to a person with £30k + of debt who was asking for advice. More...
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The following questions have been sent to us by readers and visitors of Credit to Cash. All are 'true life' situations and show that great care is required when debt is involved. More...
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If you suffer from late payments, the Late Payment Interest rules are there to help you get paid on time and adequately compensated. Yet a surprising number of small businesses do not know how to calculate late payment interest; increasing the chances of delayed payment affecting their cash flow... More...
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If you are chasing debts or have other problems that need to be settled in court then you need to remember that your local county court is the place to go. The old system of Circuit and Group Office changed earlier in the year; there are now Regional and Area Offices in their place. More...
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If late payment is affecting your business, then you are certainly in the majority according to new research by UK Business Forums. 32% of respondents to their poll said that late payment was the most frustrating problem they have to deal with.
Dan Martin, chairman of UK Business Forums, said: “Despite achieving much success, it is clear from our research that the UK’s entrepreneurs face a host of problems with running their small business. More...
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Late paying customers (or those who do not pay at all) are one the biggest causes of business failure in the UK; and chasing debts is one of the tasks that business owners are least keen on. So why not see if you can get the money you are owed without the hassle of chasing the debt yourself? More...
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Despite more businesses than ever taking action against missing and late payments; the number of SME's experiencing the problem is continuing to rise. Just one late payment can affect your cashflow to the extent where your business is at risk; and with such a huge amount of late payment around, you can see just how important it is to have a good credit policy... More...
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