interest

Late Payment of Commercial Debts- Practical Advice- 2

In the second part to our practical advice guide to commercial creditors, we cover some more gems to assist you with managing commercial recoveries. Don't be afraid of the repayment plan Creditors’ have 4 months from service of the Demand before it expires and a fresh one has to be issued. This gives Creditors a significant amount of time to negotiate and deal with the Debtor in good faith. There is [...]

2020-09-09T12:45:17+01:00Categories: debt recovery, Insolvency, Service|Tags: , , , , , , |

Late Payment of Commercial Debts – Practical Advice

The debt recovery process can, so easily, become protracted in such a way as to remove the very idea that a process is at work. Creditors should drive the process towards the desired outcome.  In the same way as any journey can be made more bearable and less stressful by engaging in certain behaviours before you set out- the correct approach before embarking on a debt collection strategy can prove invaluable. When we [...]

2020-09-09T13:51:07+01:00Categories: debt recovery, Insolvency, Service|Tags: , , , , , , |

Late Payment Interest

There is no codified or centralised regulation of the collection of commercial debts and it is unlikely that there will be any regulation to the same extent as there is in the consumer credit sector. The bargaining positions of parties to a commercial agreement is generally perceived to be more even and do not necessitate any regulation to intervene. In respect of Statutory Demands, the procedure available to set aside is the simplest [...]

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