Late Payments as a Self-Employed Professional

late payment

Being self-employed offers flexibility and autonomy, but it also comes with its fair share of challenges. One of the most prevalent issues faced by independent contractors is late payments. In the UK, the struggle of being self-employed and not receiving timely pay is all too common. However, with the right approach and resources, you can…

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Construction Debt: A Major Issue for the Industry

construction debt recovery

When it comes to construction debt, debt recovery for specialist contractors isn’t just about recouping losses; it’s about survival. Cash flow is the lifeblood of any business. Whether dealing with a few thousand pounds or several hundred thousand, every penny counts. Yet, navigating construction contracts often leaves contractors short-changed or waiting indefinitely for payment. According…

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Debt Assignment: What is it and How Does it Work?

When a creditor extends a loan, they anticipate timely repayments. However, there are instances when the original creditor decides to transfer the responsibility of collecting the debt to a third party. This process is known as debt assignment. The Basics of Debt Assignments When giving a loan to an individual or business, a creditor does…

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Unpaid Invoices- How to Avoid and Deal With Them

unpaid invoices

As a business owner, dealing with outstanding invoices is inevitable. However, when these invoicesstart piling up past their due dates, it poses a significant threat to your cash flow and businessgrowth. In this comprehensive guide, we’ll delve into the reasons why invoices go unpaid andprovide actionable strategies to prevent late payments. Unpaid invoices can stem…

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Debt Recovery- How To Recover From a Limited Company

debt recovery

Dealing with outstanding debt from a limited company can be a challenging process. As a creditor,it’s essential to understand the steps and strategies to recover what is rightfully owed to you. In thisblog, we will explore effective methods to navigate the ins and outs of recovering debt from alimited company. Before initiating the debt recovery…

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Debtors and Creditors: What is The Difference?

debtors and creditors

In the world of business, managing debtors and creditors is a crucial aspect that can make or break acompany. Regardless of its size, every business relies on a delicate balance between what it is owedand what it owes. Understanding Debtors and Creditors In simple terms, debtors are those who owe money to your business, typically…

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London Gazette Advertisement: Maximise A Winding Up Petition

london gazette

Facing the complexities of insolvency and winding up proceedings can be overwhelming. One crucial step in this process is advertising the winding up petition in the London Gazette. In this article, we will explore when to use a London Gazette advertisement and the importance of getting it right. As a trade magazine specializing in company…

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“No Win, No Fee” Claims- Is It Worth It?

In a world where legal battles can often be financially burdensome, the allure of a “no win, no fee” arrangement is undeniable. It promises access to legal representation without upfront costs or risks. Making justice seemingly more attainable. However, beneath this seemingly attractive facade lies a complex web of considerations that claimants must fully comprehend…

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A Winding Up Petition- What Is It?

winding up petition

 Creditors often find themselves in challenging situations when debtors fail to honour financial obligations. If a creditor believes the debtor company is insolvent and ought to be wound-up, then they can issue a winding up petition. However, it is important to note that a winding up petition is not a step taken lightly; it emerges…

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County Court Judgements- What are they?

county court judgement

Dealing with unpaid debts is never a pleasant situation, but sometimes it becomes necessary to seekrecourse to resolve these matters. One such avenue available in the UK is the County Court Judgement,which enables individuals or businesses to demand payment of outstanding debts from othersthrough the judicial system. Governed by Part 7 of the Ministry of…

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