29 Sep 2020 / Back to latest updates

Debt Recovery Updates

• The government has on 24 September 2020 announced that statutory demands and winding-up petitions will continue to be restricted until 31 December 2020 to protect companies from aggressive creditor enforcement action as a result of coronavirus related debts – note if the debt is older than a year, the reason for the debtor not paying is not due to covid-19 financial restrictions then please get in touch.

• Businesses will be protected from the threat of eviction until the end of year following an extension to the commercial eviction ban announced on 16 September 2020

Tips

• Keep communicating with your customers;
• Keep a record of up to date contact details for your customers as these may be needed if you instruct a legal professional or debt collector;
• Act quickly – if you have not received a response or payment within the first month or your debt being overdue – it’s time to send your Letter Before Action (LBA) or phone them;
• Ask for help – we are experienced legal team and can send out a LBA and contact your customers to request debts to be paid. We will also add late payment interest and compensation per invoice (should your invoice have no interest clause).

Should you need any advice on any dispute or recovery of a debt please contact us for further information where you can discuss the matter with our experienced legal team.