One of the first questions we ask clients when discussing a debt is who is legally responsible for paying the bill.
The cost of pursuing a debtor through the Courts depends on factors such as the size of the debt and how your debtor reacts.
Have you ever pursued a debtor through the Courts and won the case, only to discover that the person had an empty bank account and no properties or assets they could sell?
No - but yes!
The consequences of late payment of invoices to SMEs can have significant effects on a companies’ ability to trade effectively. After all cash is king.
Winning a compensation claim at a land or employment tribunal is not always the end of the story. What should you do if the other party simply refuses to pay?
The Government has been consulting on new regulations for businesses claiming debt payments from individuals, including sole traders. Here is an indication of how the regulations may look.
If the Court has found in your favour, the debtor should pay up, but this is not always the end of the story and you may have to take further action to ‘enforce’ the Judgment through the Courts in order to get paid.
Often you can solve a late payment with a phone call or letter to the customer, but if you are getting nowhere, then the threat of a County Court Judgment (CCJ) provides an altogether bigger ‘stick’.