Once a Judgement has been issued against the debtor the creditor can apply for a Warrant of Execution at any point if the debt is between £50 and £5,000 (in Scotland between £600-£5,000). If the debt is over £5,000 then the High Court would enforce the debt in the same way but this is known as a Writ of FiFa.
The Warrant of Execution will be calculated by the amount of the judgment; plus the court fees and if granted, the creditor’s costs. Statutory interest cannot be sought of judgement debts of less than £5,000.
Once the Warrant of Execution has been issued the court will transfer the judgement to the debtor’s local County Court, in turn they will write to the debtor informing them of the Warrant of Execution. This letter gives the debtor 7 days to pay the amount of the Warrant in full without further action. If the debtor pays within this time frame then the Warrant of Execution is cancelled and the monies are paid to the creditor.
During the 7 day period the debtor may apply for the Warrant of Execution to be suspended. This application must state a valid reason (i.e. offer to pay the judgment by instalments). The court would then notify the creditor of the application to suspend the Warrant. If the creditor contests the application the court will list the application for a hearing. The court would then decide whether to uphold the application to suspend or whether the Warrant of Execution still stands. (The debtor has to pay a fee to the court to apply to suspend the Warrant of Execution).
If the debtor fails to pay or apply for the Warrant of Execution to be suspended, the bailiff will usually within 15 working days visit the debtor at their home address. They will attempt to identify items which can be sold to recover the debt. Certain items are unable to be taken and the County Court Bailiff has to follow strict guidelines as to how they can take the goods. They are not allowed to break into any property – entry must be via a “peaceable” method such as unlocked door, window. If the bailiff is let into the property by a bailiff he can take payment there and then or may take an inventory of goods. This is known as a “walking possession order”. This means that if payment is not made the bailiff may / will revisit and take the goods. At this point the bailiff is allowed to break into the property if he has entered the property “peacefully” before.
A Warrant of Execution lasts for a period of one year from the date of issue. If the creditor wishes to extend the Warrants life beyond one year they must supply the court with sufficient reasons for this to be granted and unless there are exceptional circumstances this should be done prior to the Warrant of Execution expiring. There is a fee to extend the Warrant of Execution.
Thursday, 10 December 2009
Monday, 16 November 2009
THE HEADACHE CALLED MARKETING.............
In some respects marketing is one of the most important factors as to whether your company will succeed or fail. We all understand the importance of first impressions but, many companies fail to realise this importance when setting up a company as they have many other things to consider.
There is a misconception that marketing is just for large organisations with budgets to suit! But even simple things such as letterheads, compliment slips, business cards, brochures all come under the bracket of marketing. These need to create an impact – do yours create the right one?
Marketing is a science; you need the right mix to get the desired results. You already know that your company is great – now you need to let everyone else know!
There are many ways to promote your company for free; the majority of these are online. You could set up a blog, open a twitter account, create a Facebook page. These are all easy to do.........but then comes the difficult part! What do you write?
Employing a marketing team may sound daunting, maybe even expensive but it all depends on your requirements. We have bespoke packages to suit all budgets! This stems from giving a few pointers to writing a daily blog and managing online accounts.
We can an assist with all aspects of marketing for your company and endeavour to create the right marketing mix for your individual needs.
Call me for an informal chat about how we can help you grow your business.
There is a misconception that marketing is just for large organisations with budgets to suit! But even simple things such as letterheads, compliment slips, business cards, brochures all come under the bracket of marketing. These need to create an impact – do yours create the right one?
Marketing is a science; you need the right mix to get the desired results. You already know that your company is great – now you need to let everyone else know!
There are many ways to promote your company for free; the majority of these are online. You could set up a blog, open a twitter account, create a Facebook page. These are all easy to do.........but then comes the difficult part! What do you write?
Employing a marketing team may sound daunting, maybe even expensive but it all depends on your requirements. We have bespoke packages to suit all budgets! This stems from giving a few pointers to writing a daily blog and managing online accounts.
We can an assist with all aspects of marketing for your company and endeavour to create the right marketing mix for your individual needs.
Call me for an informal chat about how we can help you grow your business.
0800 4 96 95 94 or EMAIL
Thursday, 5 November 2009
JARGON BUSTING.......WINDING-UP PETITION
In effect any creditor owed over £750 can apply to the court for a Winding-Up Petition, in simple terms the petitioning creditor has had enough of false promises, broken payment agreements and bounced cheques and wishes to stop the company trading (compulsory liquidation). It is a costly action to pursue but very effective, especially if the company has valuable assets. Upon receipt of the petition the court will review the evidence supplied and decide whether the petitioning creditor has taken reasonable steps to collect the debt. In some cases the debtor may believe that a Winding-Up Petition has been issued unfairly and an “abuse of the court process”, legal advice must be sought at this point but it may be possible to have the petition rescinded if it is deemed by the court as an abuse. This would stop any action such as banks accounts being frozen or the petition being advertised. If the court does not believe it to be an abuse of the system then it will still stand and be advertised as normal.
The petitioning creditor has to allow seven full days after serving the petition on the registered office of the debtor company before it can be advertised, also prior to the High Court Hearing the petition must have been advertised in the London Gazette (Edinburgh Gazette for Scottish registered companies) and is usually done so seven days before.
Once the petition is advertised the bank will find out and will usually freeze the company’s bank account. This prevents any illegal actions of the Directors.
There are actions that can be taken to unfreeze the bank account but professional advice should always be sought on obtaining a “validation order”, of course this action is also costly as it incurs legal fees.
If the debtor does not pay the winding-Up Petition or if the petitioning creditor does not agree to any offers it generally leads to a winding-up order being issued and the Official Receiver or court appointed liquidator taking over the company.
At this stage the Directors will personally be investigated, this is to ensure that they did not trade whilst insolvent and acted properly according to their Director duties.
If the company is “wound up”, the Directors will be held personally liable for any debts signed for with a Personal Guarantee (PG).
The petitioning creditor has to allow seven full days after serving the petition on the registered office of the debtor company before it can be advertised, also prior to the High Court Hearing the petition must have been advertised in the London Gazette (Edinburgh Gazette for Scottish registered companies) and is usually done so seven days before.
Once the petition is advertised the bank will find out and will usually freeze the company’s bank account. This prevents any illegal actions of the Directors.
There are actions that can be taken to unfreeze the bank account but professional advice should always be sought on obtaining a “validation order”, of course this action is also costly as it incurs legal fees.
If the debtor does not pay the winding-Up Petition or if the petitioning creditor does not agree to any offers it generally leads to a winding-up order being issued and the Official Receiver or court appointed liquidator taking over the company.
At this stage the Directors will personally be investigated, this is to ensure that they did not trade whilst insolvent and acted properly according to their Director duties.
If the company is “wound up”, the Directors will be held personally liable for any debts signed for with a Personal Guarantee (PG).
0800 4 96 95 94 or EMAIL
Monday, 26 October 2009
PROTECTING ASSETS.....HOW PROTECTED ARE YOUR COMPANIES?
Worryingly the majority of the companies that we visit do not have the correct protection in place for their assets. They may have taken advice from their accountant or simply believe that a Directors Loan offers all the protection they need. What they don’t realize is that if the company closes (or is forced to close) the Directors Loan would not receive any preference over any other creditor.
Tenable Solutions Limited offers a proactive approach to protecting company assets; this can be done at any stage of business and guards against any action that may be taken. As companies tighten their belts to ride the financial storm, they are thinking of effective ways to collect their debts. This means that more companies are being issued with County Court Judgements (CCJs); these may be justified or may be part of a dispute. Even if the action taken is a dispute assets can be placed in jeopardy – protecting them correctly ensures that they cannot be taken.
Imagine the quandary if a bailiff walked into your premises today (if you premises are solely commercial they can enter without permission) – what could they take? In 99.5% of the cases they can take anything. There is a grey area in bailiff law which covers tools of the trade; it is a little known fact that when bailiffs refer to tools of the trade it only refers to one set. Therefore if for example the debtor runs a large hairdressers employing several hairdressers the bailiff only need leave one pair of scissors, one hairdryer, one set of combs etc. This was an amendment to the 1981 Supreme Court Act in 1996. It states:-
“Section 138(3a)(a)(i) such tools, books, vehicles and other items of equipment as are necessary to that person for use personally by him in his employment, business or vocation”
Imagine how that could ruin the livelihood of a business; it could be costly and time consuming to purchase new “tools” in a short space of time.
Some companies we have visited have illegally protected assets, they have done this with information they have retrieved from the internet. Luckily, we have now ensured that they are protected within the law. Illegally protecting assets could be construed as misconduct and is viewed dimly by the courts and action could be taken on the Directors personally.
Tenable Solutions Limited specialize in legally protecting assets, this can be done quickly and conveniently and without disrupting trading.
It doesn’t matter whether the company has just set-up, been trading seventy years has £30million or £10,000 turnover. What matters is they have assets that need protecting, this could be physical assets or money personally lent to the company.
If you would like to learn more about protecting assets and how it could be of a benefit to your company, contact us for an informal chat.
Tenable Solutions Limited offers a proactive approach to protecting company assets; this can be done at any stage of business and guards against any action that may be taken. As companies tighten their belts to ride the financial storm, they are thinking of effective ways to collect their debts. This means that more companies are being issued with County Court Judgements (CCJs); these may be justified or may be part of a dispute. Even if the action taken is a dispute assets can be placed in jeopardy – protecting them correctly ensures that they cannot be taken.
Imagine the quandary if a bailiff walked into your premises today (if you premises are solely commercial they can enter without permission) – what could they take? In 99.5% of the cases they can take anything. There is a grey area in bailiff law which covers tools of the trade; it is a little known fact that when bailiffs refer to tools of the trade it only refers to one set. Therefore if for example the debtor runs a large hairdressers employing several hairdressers the bailiff only need leave one pair of scissors, one hairdryer, one set of combs etc. This was an amendment to the 1981 Supreme Court Act in 1996. It states:-
“Section 138(3a)(a)(i) such tools, books, vehicles and other items of equipment as are necessary to that person for use personally by him in his employment, business or vocation”
Imagine how that could ruin the livelihood of a business; it could be costly and time consuming to purchase new “tools” in a short space of time.
Some companies we have visited have illegally protected assets, they have done this with information they have retrieved from the internet. Luckily, we have now ensured that they are protected within the law. Illegally protecting assets could be construed as misconduct and is viewed dimly by the courts and action could be taken on the Directors personally.
Tenable Solutions Limited specialize in legally protecting assets, this can be done quickly and conveniently and without disrupting trading.
It doesn’t matter whether the company has just set-up, been trading seventy years has £30million or £10,000 turnover. What matters is they have assets that need protecting, this could be physical assets or money personally lent to the company.
If you would like to learn more about protecting assets and how it could be of a benefit to your company, contact us for an informal chat.
EMAIL or call 0800 4 96 95 94
Friday, 23 October 2009
LITTLE KNOWN FACT ABOUT BAILIFFS.........
It is a little known fact that when bailiffs refer to tools of the trade it only refers to one set. Therefore if for example if the debtor runs a large hairdressers employing several hairdressers the bailiff only need leave one pair of scissors, one hairdryer, one set of combs etc.
This was an amendment to the 1981 Supreme Court Act in 1996. It states:-
“Section 138(3a)(a)(i) such tools, books, vehicles and other items of equipment as are necessary to that person for use personally by him in his employment, business or vocation”
If a bailiffs’ visit is looming then it is imperative that advice is sought. There are things that can be done to protect a debtor’s assets prior to a bailiffs’ visit.
This was an amendment to the 1981 Supreme Court Act in 1996. It states:-
“Section 138(3a)(a)(i) such tools, books, vehicles and other items of equipment as are necessary to that person for use personally by him in his employment, business or vocation”
If a bailiffs’ visit is looming then it is imperative that advice is sought. There are things that can be done to protect a debtor’s assets prior to a bailiffs’ visit.
Thursday, 22 October 2009
BAILIFF FACTS / BAILIFF LAW
Types of Bailiff
Private Bailiffs (certified bailiff)
A County Court judge supplies a certified bailiff with a certificate lasting just two years. In order to obtain the certificate the applicant must demonstrate that he is a “fit and proper person” to hold the certificate, prove that they are not in the business of buying debts and that they have adequate knowledge of the law of distress. They must undertake a criminal records check, a County Court Judgment (CCJ) check, provide two references and also a security bond of £10,000 (usually being an insurance bond). Once the applicant has received the certificate it authorises them to levy distress anywhere in England and Wales.
A certified bailiff is not employed by the court nor are they an officer of the court. However, they are viewed as representatives of the court because they act under the certificate issued by the court. Because of this the court sets out strict standards of competence and conduct for Certified Bailiffs.
Only certified bailiffs can carry out the distress for council tax, non-domestic rates and parking fines, rent and child support agency arrears etc.
County Court Bailiff
County Court bailiffs are civil servants employed by the County Courts. They enforce County Court Orders and Judgements. These bailiffs are managed by senior staff at the County Court but they are responsible to the District Judge for their actions (for further info see section 123 of the Courts act 1984).
High Court Enforcement Officers
In this country there are only approximately 70 High Court Enforcement Officers. These are private sector bailiffs appointed to enforce High Court orders and any County Court order that has been transferred to the High Court for enforcement.
Bailiff Rights
Bailiffs do not have the right to force their way into an individuals’ home to seize goods. They only have the right of peaceful entry, peaceful entry constitutes as entering through an unlocked door, an open window even if a fence/gate has to be climbed over to reach it. They cannot damage property i.e. break a window / door. The ONLY exception to this is if the bailiff is from the Collector of Taxes (HMRC), they can get a warrant to force entry but this is very, very rare.
There is NO law that states entry has to be given to the bailiff and he is not allowed to force his way past the debtor to gain entry. They will however use ingenious methods to try and gain entry, asking to use the toilet etc.
There is a code of conduct for levies:-
· Unlawful force should not be used to enter premises
· If the only person present is under 18, the bailiff must depart but they are allowed to ask when the debtor will return. If there is only children 12 or under present the bailiff must simply leave.
· If the police are present, it will simply be to deal with breach of the peace and not assist with the levy. This must clearly be explained.
· Bailiffs should not disclose the purpose of their visit to anyone other than the debtor. Relevant documents should be left for the debtor in a sealed envelope.
· Visits should ideally be made between 6am and 9pm. Visits should not take place on Sundays, Bank Holidays, Good Friday or Christmas Day unless a court permits. Respect for other religions and cultures should be upheld and visits avoided on appropriate festivals and holidays.
· Goods that are clearly those of a child should not be seized.
· Bailiffs should take all reasonable steps to satisfy themselves that the values of the goods seized is proportional to the debt and charges owing.
· A receipt must be given to the debtor when goods have been removed.
· The debtor must be notified of the fees on each visit and of the fees that will be accrued if further action takes place.
Exempt Goods
There are several goods that bailiffs are unable to seize (except bailiffs acting on behalf of the Magistrate’s Court). These constitute goods that are deemed necessary to meet the basic domestic needs of the debtors family such as cooker, clothing, bedding etc. They are also unable to levy on items that are required for use in employment, business or vocation such as tools, goods or vehicles.
It is unlawful to hide or remove goods prior to a bailiffs visit.
Goods that don’t belong to the debtor
If a bailiffs visit is imminent it is wise for the debtor to get proof that the goods do not belong to them. Photographic evidence is also useful at this point, along with a list. Goods that are on Hire Purchase (HP) do not legally belong to the debtor until the final payment has been made BUT there may be circumstances in which these can be seized.
If the bailiff seizes goods that do not belong to the debtor the owner of the goods can then apply for the goods to be returned.
This is a very grey area and advice needs to be sought urgently by the debtor.
Overview
There are lots of grey areas where bailiffs are concerned, it is imperative that the debtor seeks advice.
If the premises are solely commercial rights of entry change and entry can be forced.
Private Bailiffs (certified bailiff)
A County Court judge supplies a certified bailiff with a certificate lasting just two years. In order to obtain the certificate the applicant must demonstrate that he is a “fit and proper person” to hold the certificate, prove that they are not in the business of buying debts and that they have adequate knowledge of the law of distress. They must undertake a criminal records check, a County Court Judgment (CCJ) check, provide two references and also a security bond of £10,000 (usually being an insurance bond). Once the applicant has received the certificate it authorises them to levy distress anywhere in England and Wales.
A certified bailiff is not employed by the court nor are they an officer of the court. However, they are viewed as representatives of the court because they act under the certificate issued by the court. Because of this the court sets out strict standards of competence and conduct for Certified Bailiffs.
Only certified bailiffs can carry out the distress for council tax, non-domestic rates and parking fines, rent and child support agency arrears etc.
County Court Bailiff
County Court bailiffs are civil servants employed by the County Courts. They enforce County Court Orders and Judgements. These bailiffs are managed by senior staff at the County Court but they are responsible to the District Judge for their actions (for further info see section 123 of the Courts act 1984).
High Court Enforcement Officers
In this country there are only approximately 70 High Court Enforcement Officers. These are private sector bailiffs appointed to enforce High Court orders and any County Court order that has been transferred to the High Court for enforcement.
Bailiff Rights
Bailiffs do not have the right to force their way into an individuals’ home to seize goods. They only have the right of peaceful entry, peaceful entry constitutes as entering through an unlocked door, an open window even if a fence/gate has to be climbed over to reach it. They cannot damage property i.e. break a window / door. The ONLY exception to this is if the bailiff is from the Collector of Taxes (HMRC), they can get a warrant to force entry but this is very, very rare.
There is NO law that states entry has to be given to the bailiff and he is not allowed to force his way past the debtor to gain entry. They will however use ingenious methods to try and gain entry, asking to use the toilet etc.
There is a code of conduct for levies:-
· Unlawful force should not be used to enter premises
· If the only person present is under 18, the bailiff must depart but they are allowed to ask when the debtor will return. If there is only children 12 or under present the bailiff must simply leave.
· If the police are present, it will simply be to deal with breach of the peace and not assist with the levy. This must clearly be explained.
· Bailiffs should not disclose the purpose of their visit to anyone other than the debtor. Relevant documents should be left for the debtor in a sealed envelope.
· Visits should ideally be made between 6am and 9pm. Visits should not take place on Sundays, Bank Holidays, Good Friday or Christmas Day unless a court permits. Respect for other religions and cultures should be upheld and visits avoided on appropriate festivals and holidays.
· Goods that are clearly those of a child should not be seized.
· Bailiffs should take all reasonable steps to satisfy themselves that the values of the goods seized is proportional to the debt and charges owing.
· A receipt must be given to the debtor when goods have been removed.
· The debtor must be notified of the fees on each visit and of the fees that will be accrued if further action takes place.
Exempt Goods
There are several goods that bailiffs are unable to seize (except bailiffs acting on behalf of the Magistrate’s Court). These constitute goods that are deemed necessary to meet the basic domestic needs of the debtors family such as cooker, clothing, bedding etc. They are also unable to levy on items that are required for use in employment, business or vocation such as tools, goods or vehicles.
It is unlawful to hide or remove goods prior to a bailiffs visit.
Goods that don’t belong to the debtor
If a bailiffs visit is imminent it is wise for the debtor to get proof that the goods do not belong to them. Photographic evidence is also useful at this point, along with a list. Goods that are on Hire Purchase (HP) do not legally belong to the debtor until the final payment has been made BUT there may be circumstances in which these can be seized.
If the bailiff seizes goods that do not belong to the debtor the owner of the goods can then apply for the goods to be returned.
This is a very grey area and advice needs to be sought urgently by the debtor.
Overview
There are lots of grey areas where bailiffs are concerned, it is imperative that the debtor seeks advice.
If the premises are solely commercial rights of entry change and entry can be forced.
Wednesday, 21 October 2009
TENABLE SOLUTIONS LIMITED
Tenable Solutions Limited was formed to help businesses who are struggling with financial pressures; the aim is to recover the business and effectively turn it around. We spend a lot of time trying to improve our services and we have ascertained that business believe their problems worsened because they did not know where to turn for advice. Frighteningly many are members of organisations such as The Federation of Small Businesses and The Chamber of Commerce. Although these organisations have "legal helplines" etc the information that they have received has not been adequate or tailored to their individual issues. It became evident there was clearly a need in the business world, this is where Tenable Business Support Service was formed. The service offered far out rivals any from other organisations and membership costs just £25 per month - with a discount for annual membership.
Many of our clients have personally funded their businesses during the current economic climate - this has led to large credit card bills and loans which they are struggling to pay. Pure Financial Management is a debt management plan which can take away the stress from creditors and enable the client to make lower monthly payments. Although initially this was formed to help business people, Pure Financial Management can help ANY individual with debt problems and alleviate the stress and worry that debt can cause.
Many of our clients at Tenable Solutions Limited have problems with bad debts owed to the company. Many of them have tried to collect these debts but failed, this of course then has a knock on effect in their business. Tenable Debt Collection uses effective debt collection methods.
Another string to our bow at Tenable Solutions Limited is Tenable Accountancy, this is a service designed to help sole-traders, partnerships and small Limited companies with all their accounting issues.
If you would like to discuss any of the issues above then please do not hesitate to contact me:-
Many of our clients have personally funded their businesses during the current economic climate - this has led to large credit card bills and loans which they are struggling to pay. Pure Financial Management is a debt management plan which can take away the stress from creditors and enable the client to make lower monthly payments. Although initially this was formed to help business people, Pure Financial Management can help ANY individual with debt problems and alleviate the stress and worry that debt can cause.
Many of our clients at Tenable Solutions Limited have problems with bad debts owed to the company. Many of them have tried to collect these debts but failed, this of course then has a knock on effect in their business. Tenable Debt Collection uses effective debt collection methods.
Another string to our bow at Tenable Solutions Limited is Tenable Accountancy, this is a service designed to help sole-traders, partnerships and small Limited companies with all their accounting issues.
If you would like to discuss any of the issues above then please do not hesitate to contact me:-
EMAIL or call 0800 4 96 95 94
Monday, 14 September 2009
TENABLE DEBT COLLECTION.....
The words “debt collection” comes with a lot of stigma. Over the past few years this industry has been tarnished due to unlicensed companies. This makes it difficult for people to know where to turn when they need to collect a debt. Tenable Debt Collection is a subsidiary of Tenable Solutions Limited and we hold a fully up-to-date consumer credit license; this allows us to legally collect debts.
We are proud to say that we use effective AND lawful techniques to collect debts whether they are commercial or personal. Many debtors are using the current economic climate as an excuse for the debt and on the back of this are offering token payments in respect of their debts. We work solely for you and we will work with you to find a repayment that suits you – if this cannot be adhered to there are other options available which you may not have considered. If the debt is owed to you by an individual you could have a charging order placed on their property – this would mean that you hold a charge on their property and it would need to be paid prior to the sale of a house in the same way their mortgage would. Another option could be issuing a Stat Demand for bankruptcy; this is a very, very effective way to collect a debt especially if the debtor has assets or is afraid of the publicity that bankruptcy brings! You could even do both – this would mean that if the bankruptcy was granted you would still hold a charge on the debtor’s property. If the debt is owed to you by a company then there are also various routes you can go down, a petition can even be issued to “wind-up” the company.
Of course the above options are examples; your individual case would be assessed and then you would be advised on the best course of action. One thing is for certain though – we do not send numerous letters to the debtor in the hope that at some point they make contact. We use all our knowledge and facilities to get your money back and recover your costs.
We firmly stand by our company ethos to be honest with our customers, there are no hidden charges. Our experienced staff have a wealth of knowledge on all aspects of debt collection – they can be contacted during office hours to receive a no obligation quotation.
For more information please call 0800 4 96 95 94 or EMAIL
We are proud to say that we use effective AND lawful techniques to collect debts whether they are commercial or personal. Many debtors are using the current economic climate as an excuse for the debt and on the back of this are offering token payments in respect of their debts. We work solely for you and we will work with you to find a repayment that suits you – if this cannot be adhered to there are other options available which you may not have considered. If the debt is owed to you by an individual you could have a charging order placed on their property – this would mean that you hold a charge on their property and it would need to be paid prior to the sale of a house in the same way their mortgage would. Another option could be issuing a Stat Demand for bankruptcy; this is a very, very effective way to collect a debt especially if the debtor has assets or is afraid of the publicity that bankruptcy brings! You could even do both – this would mean that if the bankruptcy was granted you would still hold a charge on the debtor’s property. If the debt is owed to you by a company then there are also various routes you can go down, a petition can even be issued to “wind-up” the company.
Of course the above options are examples; your individual case would be assessed and then you would be advised on the best course of action. One thing is for certain though – we do not send numerous letters to the debtor in the hope that at some point they make contact. We use all our knowledge and facilities to get your money back and recover your costs.
We firmly stand by our company ethos to be honest with our customers, there are no hidden charges. Our experienced staff have a wealth of knowledge on all aspects of debt collection – they can be contacted during office hours to receive a no obligation quotation.
For more information please call 0800 4 96 95 94 or EMAIL
Friday, 21 August 2009
JARGON BUSTING - STATUTORY DEMAND (STAT DEMAND)
A Statutory Demand is a formal request for payment and it gives the debtor 21 days warning to pay the debt. After 21 days it can be followed by a bankruptcy petition.
A Stat Demand can be served as soon as the debt is due and does not require a County Court Judgment (CCJ) to be issued first and it can be served without any court involvement. It can be fairly easy for the debtor to get the Stat Demand “set aside” if there is any dispute the court will halt the bankruptcy. This can result in an order for costs being made against the petitioning creditor.
The majority of Stat Demands that are issued are done so for “scare tactics” thus being because the average debtor will normally be so scared having received on they will pay up. If a bankruptcy petition does not follow the 21 days notice then this would become apparent.
It is very easy for the creditor to issue a Stat Demand, a simple form to complete and the papers can be served by recorded post. There is no need for personal delivery or a solicitor to be involved.
Receiving a Stat Demand can be very scary – especially if the debtor has assets such as a house or their reputation / job would be at risk if they were made bankrupt. There are ways that the risk of bankruptcy can be reduced such as:-
· The debt is reduced below £750
· The debtor offers to make payments to clear the debt by instalment
· The debtor applies to have the Statutory Demand set aside
It is recommended that advice be sought if a Statutory Demand is received, every ones circumstances differ. This explanation is for information purposes only.
A Stat Demand can be served as soon as the debt is due and does not require a County Court Judgment (CCJ) to be issued first and it can be served without any court involvement. It can be fairly easy for the debtor to get the Stat Demand “set aside” if there is any dispute the court will halt the bankruptcy. This can result in an order for costs being made against the petitioning creditor.
The majority of Stat Demands that are issued are done so for “scare tactics” thus being because the average debtor will normally be so scared having received on they will pay up. If a bankruptcy petition does not follow the 21 days notice then this would become apparent.
It is very easy for the creditor to issue a Stat Demand, a simple form to complete and the papers can be served by recorded post. There is no need for personal delivery or a solicitor to be involved.
Receiving a Stat Demand can be very scary – especially if the debtor has assets such as a house or their reputation / job would be at risk if they were made bankrupt. There are ways that the risk of bankruptcy can be reduced such as:-
· The debt is reduced below £750
· The debtor offers to make payments to clear the debt by instalment
· The debtor applies to have the Statutory Demand set aside
It is recommended that advice be sought if a Statutory Demand is received, every ones circumstances differ. This explanation is for information purposes only.
Thursday, 20 August 2009
JARGON BUSTING - INTERIM ORDER / CHARGING ORDER
A Charging Order is another approach that a creditor can take in order to make the debtor repay a debt. Generally this is done when a creditor has issued a CCJ and it is a way to enforce the CCJ should it not be paid in full or if any of the agreed instalments are missed. A Charging Order gives the creditor security of the debt. Once the Charging Order has been granted the debt becomes “secured” on the debtors’ house / land in the same way a mortgage or secured loan is.
The first step of a Charging Order is an Interim Order, this can be issued to the debtor without a hearing, normally it outlines the date for the Charging Order hearing (21 days notice must be given) which will be heard in front of a District Judge. As a precaution a copy of the Interim Order will also be sent Land Registry and this will be noted – this makes it impossible for the property to be sold. The Land Registry will also inform the debtor in writing that an Interim Order has been made.
If the debtor objects to the Interim / Charging Order then it is imperative that they send their written objections along with any evidence to the petitioning creditor at least 7 days prior to the hearing. It is also good practice for a copy of this to be sent to the court and the petitioning creditor’s solicitor (all should be sent by registered post).
At the Charging Order hearing the District Judge will decide whether to make a permanent charge on the property – he will take into account evidence / objections from both sides. It is imperative that the debtor attends the hearing as if they do not it is more likely that the Charging Order will be granted. If the hearing is not at a local court then the debtor can apply for it to be transferred to a local court – the form to complete is N244 and there is a fee.
The District Judge must consider whether it is reasonable to make a charging order. Under the Charging Orders Act 1979 they have to consider all of the circumstances of the case such as the personal circumstances of the debtor and whether if the Charging Order was granted it would be “unduly prejudiced” – this means that if the Charging Order was granted there would be a disadvantage to other creditors that the debtor may have.
If the property is in joint names but the debt is in a sole name – the other owner of the property has the opportunity to explain why they do not feel that the Charging Order should be granted. Some of these objections could include: who has paid for the deposit or who has made the mortgage payments. All of these are valid points but must be sent to the court, petitioning creditor and petitioning creditor’s solicitor at least 7 days prior to the hearing.
If the Charging Order is granted it is very rare for a court to allow a creditor to sell the property. The majority of creditors are happy to wait for the home to be sold at some point in the future. If the creditor requests that the property is sold there must be another hearing, again the District Judge would decide using objections / arguments from both sides whether to grant this or not. As before it is vital that the debtor files their objections at least 7 days prior to the hearing and attends the hearing.
Receiving an Interim Order / Charging Order can be a very worrying time, but it is crucial that the debtor acts fast and receives professional advice.
The first step of a Charging Order is an Interim Order, this can be issued to the debtor without a hearing, normally it outlines the date for the Charging Order hearing (21 days notice must be given) which will be heard in front of a District Judge. As a precaution a copy of the Interim Order will also be sent Land Registry and this will be noted – this makes it impossible for the property to be sold. The Land Registry will also inform the debtor in writing that an Interim Order has been made.
If the debtor objects to the Interim / Charging Order then it is imperative that they send their written objections along with any evidence to the petitioning creditor at least 7 days prior to the hearing. It is also good practice for a copy of this to be sent to the court and the petitioning creditor’s solicitor (all should be sent by registered post).
At the Charging Order hearing the District Judge will decide whether to make a permanent charge on the property – he will take into account evidence / objections from both sides. It is imperative that the debtor attends the hearing as if they do not it is more likely that the Charging Order will be granted. If the hearing is not at a local court then the debtor can apply for it to be transferred to a local court – the form to complete is N244 and there is a fee.
The District Judge must consider whether it is reasonable to make a charging order. Under the Charging Orders Act 1979 they have to consider all of the circumstances of the case such as the personal circumstances of the debtor and whether if the Charging Order was granted it would be “unduly prejudiced” – this means that if the Charging Order was granted there would be a disadvantage to other creditors that the debtor may have.
If the property is in joint names but the debt is in a sole name – the other owner of the property has the opportunity to explain why they do not feel that the Charging Order should be granted. Some of these objections could include: who has paid for the deposit or who has made the mortgage payments. All of these are valid points but must be sent to the court, petitioning creditor and petitioning creditor’s solicitor at least 7 days prior to the hearing.
If the Charging Order is granted it is very rare for a court to allow a creditor to sell the property. The majority of creditors are happy to wait for the home to be sold at some point in the future. If the creditor requests that the property is sold there must be another hearing, again the District Judge would decide using objections / arguments from both sides whether to grant this or not. As before it is vital that the debtor files their objections at least 7 days prior to the hearing and attends the hearing.
Receiving an Interim Order / Charging Order can be a very worrying time, but it is crucial that the debtor acts fast and receives professional advice.
JARGON BUSTING - PERSONAL GUARANTEES (PGs)
With the uncertain economic climate many companies are requesting a Personal Guarantee (PG) against many credit accounts / leases etc. Once this is signed it means that the director of the Limited Company is no longer protected against debts if their company fails. Signing a Personal Guarantee (PG) can be very, very risky – especially if the director has assets such as a house.
Companies offering credit are feeling the pinch at the moment, a Personal Guarantee further ensures that they will not be out of pocket should the Limited Company fail. If a director signs a Personal Guarantee and their business diminishes then the company will pursue the matter through the court to fulfil the debt. There are various routes that they can go down such as a charging order, interim order or bankruptcy.
Prior to signing any agreements you need to seek professional advice, this is to ensure that you are protected. We see many people who have unwittingly signed agreements with Personal Guarantees (PG) – once the agreement has been signed there is not much that can be done about it. It is imperative that advice is sought prior to signing.
If you need assistance with any agreements or if you have a Personal Guarantee which is currently being enforced then do not hesitate to contact me
Companies offering credit are feeling the pinch at the moment, a Personal Guarantee further ensures that they will not be out of pocket should the Limited Company fail. If a director signs a Personal Guarantee and their business diminishes then the company will pursue the matter through the court to fulfil the debt. There are various routes that they can go down such as a charging order, interim order or bankruptcy.
Prior to signing any agreements you need to seek professional advice, this is to ensure that you are protected. We see many people who have unwittingly signed agreements with Personal Guarantees (PG) – once the agreement has been signed there is not much that can be done about it. It is imperative that advice is sought prior to signing.
If you need assistance with any agreements or if you have a Personal Guarantee which is currently being enforced then do not hesitate to contact me
0800 4 96 95 94 or EMAIL
JARGON BUSTING - County Court Judgments (CCJs)
A County Court Judgement (more commonly known as CCJ) can be entered against you if you owe any sum of money. The person you owe money to (claimant) will contact the court or complete a “moneyclaim” online – once they have done this (there is a fee involved) a claim form will be sent out to the person who owes money (defendant) – it is imperative that this form is completed as soon as it is received. There are three options available on the claim form:-
1) Accept the full debt
2) Dispute all of the debt
3) Dispute part of the debt
The forms can be completed by hand or online by logging onto Moneyclaim – there will be a specific password on your claim form which you will need to enter along with the claim number. Generally you have 14 days from the date of issue to respond (although it is possible to ask for 28 days by just completing the Acknowledgment of Service form if time is needed to prepare a defence).
The next steps are dependent on whether the debt is accepted or disputed. The steps are as follows:-
Accept the full debt
a) Pay the debt in full within 30 days
If the amount is paid direct to the “claimant” at this point then a “CCJ” will never be issued and this will have no effect on the “defendants” credit file. If the amount is not paid the “claimant” can then apply for judgment to be issued. Again if this is paid within 30 days then the CCJ will / can be removed and a certificate of satisfaction will be received. There is generally a small fee for this.
b) Pay the debt in full after 30 days
If the debt is paid in full after the 30 days then this will stay on the “defendants” credit file BUT they can request that the court marks it as “satisfied” – again there is a small fee for this and the “defendant” will receive a certificate of satisfaction.
c) Request to pay by instalments
If the Judgment has been ordered to be paid in full and the “defendant” cannot do this then they can apply for a Varied Order (form N245) – once completed this form gives an overview of the “defendants” financial position. It includes information such as income and expenditure, other debts and court fines etc. There is a section to make the offer of payment. The Varied Order is returned to the court who in turn send it the “claimant” for approval. If the “claimant” accepts the offer then the “defendant” will receive confirmation of this including the date the instalment should be paid and where the payment should be sent to. If the “claimant” declines the offer of payment the court will then look into the information that the “defendant” provided and then decide how much should be paid. At this point if the court decides an amount that the “defendant” does not feel able to pay they can ask the court to reconsider their decision but this must be done within sixteen days of the postmark of the Varied Order.
Dispute all of the debt / Dispute part of the debt
If the “defendant” disputes part or all of the debt the court will request that they attend a hearing. It is imperative at this point that the “defendant” fully prepares all of the evidence they have to enforce their reason for disputing the debt. Both the “claimant” and “defendant” should attend this hearing.
The Judge will then decide at this point, based on evidence provided what part of the debt will be payable. The steps will then be the same as above i.e. paying in full or paying by instalments
If nothing is done with regards to the CCJ then the “claimant” can request for a Warrant of Execution to be issued (please see separate section of this for full explanation).
The CCJ will be registered on the Register of Judgments, Orders and Fines and the majority of entries stay on the register for six full years. Organisations such as credit companies, bank & building societies use the information on the Register to decide whether to offer accounts or not. Having a CCJ can make it very difficult to obtain credit.
The Registered Trust is the place to check whether a Judgment has been issued against you or not. Generally there is a small cost to do this but it can be done online at or you can telephone them on 020 7380 0133. The information available is:-
· The amount and date of judgment
· The claim number
· The name of the court where judgment was issued
It can also be worthwhile checking your credit file. It is against the law for a company to check your personal credit file without your permission but this can easily be done online.
Limited Companies are different and anybody can check their credit file – it is public information. This is worthwhile thinking about if you wish to offer credit to any Limited Company (see separate section for information on how to do this).
Wednesday, 19 August 2009
JARGON BUSTING.......WALKING POSSESSION AGREEMENT
If a bailiff enters a property using peaceful entry he will normally list goods and these form a Walking Possession Agreement, the goods that have been noted now legally belong to the bailiff and can be removed at any time. The bailiff will allow these goods to remain in the property and you can continue to have use of these providing that you keep to your side of the agreement i.e. you make the agreed payments.
On some occasions a bailiff may list items that he has seen through the window or letterbox, this does not constitute a valid Walking Possession Agreement and under no circumstances if you have had one of these pushed through your door to sign should you! If a bailiff is allowed entry then it is worth remembering that once they have gained peaceful entry (let in, though an unlocked door / window) then they can come back at any point and gain entry without your knowledge / agreement.
As a rule goods sold at public auction will normally sell for around 10% of their original value. This means if you owe £100 – then the bailiff will probably try to seize goods to the value of at least £10,000.
A bailiff must only seize goods that belong to the debtor. In practice the majority of bailiffs will attempt to seize any goods to the value of the debt – it would then be up to the individual who owns the property to prove ownership afterwards.
If you have any problems with bailiffs or debts then please do not hesitate to contact me for an informal chat.
On some occasions a bailiff may list items that he has seen through the window or letterbox, this does not constitute a valid Walking Possession Agreement and under no circumstances if you have had one of these pushed through your door to sign should you! If a bailiff is allowed entry then it is worth remembering that once they have gained peaceful entry (let in, though an unlocked door / window) then they can come back at any point and gain entry without your knowledge / agreement.
As a rule goods sold at public auction will normally sell for around 10% of their original value. This means if you owe £100 – then the bailiff will probably try to seize goods to the value of at least £10,000.
A bailiff must only seize goods that belong to the debtor. In practice the majority of bailiffs will attempt to seize any goods to the value of the debt – it would then be up to the individual who owns the property to prove ownership afterwards.
If you have any problems with bailiffs or debts then please do not hesitate to contact me for an informal chat.
0800 4 96 95 94 or EMAIL
JARGON BUSTING.......WARRANT OF EXECUTION
Once a Judgement has been issued against the debtor the creditor can apply for a Warrant of Execution at any point if the debt is between £50 and £5,000 (in Scotland between £600-£5,000). If the debt is over £5,000 then the High Court would enforce the debt in the same way but this is known as a Writ of FiFa.
The Warrant of Execution will be calculated by the amount of the judgment; plus the court fees and if granted, the creditor’s costs. Statutory interest cannot be sought of judgement debts of less than £5,000.
Once the Warrant of Execution has been issued the court will transfer the judgement to the debtor’s local County Court, in turn they will write to the debtor informing them of the Warrant of Execution. This letter gives the debtor 7 days to pay the amount of the Warrant in full without further action. If the debtor pays within this time frame then the Warrant of Execution is cancelled and the monies are paid to the creditor.
During the 7 day period the debtor may apply for the Warrant of Execution to be suspended. This application must state a valid reason (i.e. offer to pay the judgment by instalments). The court would then notify the creditor of the application to suspend the Warrant. If the creditor contests the application the court will list the application for a hearing. The court would then decide whether to uphold the application to suspend or whether the Warrant of Execution still stands. (The debtor has to pay a fee to the court to apply to suspend the Warrant of Execution).
If the debtor fails to pay or apply for the Warrant of Execution to be suspended, the bailiff will usually within 15 working days visit the debtor at their home address. They will attempt to identify items which can be sold to recover the debt. Certain items are unable to be taken and the County Court Bailiff has to follow strict guidelines as to how they can take the goods. They are not allowed to break into any property – entry must be via a “peaceable” method such as unlocked door, window. If the bailiff is let into the property by a bailiff he can take payment there and then or may take an inventory of goods. This is known as a “walking possession order”. This means that if payment is not made the bailiff may / will revisit and take the goods. At this point the bailiff is allowed to break into the property if he has entered the property “peacefully” before.
A Warrant of Execution lasts for a period of one year from the date of issue. If the creditor wishes to extend the Warrants life beyond one year they must supply the court with sufficient reasons for this to be granted and unless there are exceptional circumstances this should be done prior to the Warrant of Execution expiring. There is a fee to extend the Warrant of Execution.
If you have any queries about Warrants of Execution or would like an informal chat please do not hesitate to contact me:-
The Warrant of Execution will be calculated by the amount of the judgment; plus the court fees and if granted, the creditor’s costs. Statutory interest cannot be sought of judgement debts of less than £5,000.
Once the Warrant of Execution has been issued the court will transfer the judgement to the debtor’s local County Court, in turn they will write to the debtor informing them of the Warrant of Execution. This letter gives the debtor 7 days to pay the amount of the Warrant in full without further action. If the debtor pays within this time frame then the Warrant of Execution is cancelled and the monies are paid to the creditor.
During the 7 day period the debtor may apply for the Warrant of Execution to be suspended. This application must state a valid reason (i.e. offer to pay the judgment by instalments). The court would then notify the creditor of the application to suspend the Warrant. If the creditor contests the application the court will list the application for a hearing. The court would then decide whether to uphold the application to suspend or whether the Warrant of Execution still stands. (The debtor has to pay a fee to the court to apply to suspend the Warrant of Execution).
If the debtor fails to pay or apply for the Warrant of Execution to be suspended, the bailiff will usually within 15 working days visit the debtor at their home address. They will attempt to identify items which can be sold to recover the debt. Certain items are unable to be taken and the County Court Bailiff has to follow strict guidelines as to how they can take the goods. They are not allowed to break into any property – entry must be via a “peaceable” method such as unlocked door, window. If the bailiff is let into the property by a bailiff he can take payment there and then or may take an inventory of goods. This is known as a “walking possession order”. This means that if payment is not made the bailiff may / will revisit and take the goods. At this point the bailiff is allowed to break into the property if he has entered the property “peacefully” before.
A Warrant of Execution lasts for a period of one year from the date of issue. If the creditor wishes to extend the Warrants life beyond one year they must supply the court with sufficient reasons for this to be granted and unless there are exceptional circumstances this should be done prior to the Warrant of Execution expiring. There is a fee to extend the Warrant of Execution.
If you have any queries about Warrants of Execution or would like an informal chat please do not hesitate to contact me:-
0800 4 96 95 94 or EMAIL
JARGON BUSTING.........WRIT OF FIFA!
Writ of FiFa is derived from the Latin term “fiery facias” and forms part of the law of execution; this is another solution after a judgment has been issued. A Writ of FiFa is the High Court equivalent of a Warrant of Execution, but unlike a Warrant of Execution it does not require any notice to be given. County Courts do not have the authority to issue these Writs. It is an order to the authorised High Court Enforcement Officer to seize assets and sell the possessions of the debtor to enforce the money judgement whether that be commercial or residential premises.
The minimum amount a Writ of FiFa can be issued for is £600. Court Fees and Statutory Interest may also be added to the original Judgement once the Writ of FiFa has been issued.
Once a Judgement has been issued and remains unsatisfied a Writ of FiFa may be issued without notice to the debtor, once the petitioning creditor has paid a fee.
A High Court Enforcement Officer is allowed to enter premises to levy execution. However, as with all bailiffs they are not entitled to enter domestic premises where they are denied permission to enter BUT the High Court Enforcement Officer is allowed to enter by “peaceable” means – through open windows, unlocked doors etc. Commercial premises are different and they are allowed to gain entry (peaceable or not) as long as the residential property is not connected i.e. multi-use (pubs etc). Upon lawful entry into the premises any internal doors, cupboards or windows may be broken in order to execute the Writ.
On the rare occasion that entry is unlawful, the sale of goods collected IS lawful and therefore will be sole to execute the judgement. The High Court Enforcement Officer would / could be pursued by the debtor for trespass.
If you would like further information about Writs of FiFa then please do not hesitate to get in touch for an informal chat.
The minimum amount a Writ of FiFa can be issued for is £600. Court Fees and Statutory Interest may also be added to the original Judgement once the Writ of FiFa has been issued.
Once a Judgement has been issued and remains unsatisfied a Writ of FiFa may be issued without notice to the debtor, once the petitioning creditor has paid a fee.
A High Court Enforcement Officer is allowed to enter premises to levy execution. However, as with all bailiffs they are not entitled to enter domestic premises where they are denied permission to enter BUT the High Court Enforcement Officer is allowed to enter by “peaceable” means – through open windows, unlocked doors etc. Commercial premises are different and they are allowed to gain entry (peaceable or not) as long as the residential property is not connected i.e. multi-use (pubs etc). Upon lawful entry into the premises any internal doors, cupboards or windows may be broken in order to execute the Writ.
On the rare occasion that entry is unlawful, the sale of goods collected IS lawful and therefore will be sole to execute the judgement. The High Court Enforcement Officer would / could be pursued by the debtor for trespass.
If you would like further information about Writs of FiFa then please do not hesitate to get in touch for an informal chat.
0800 4 96 95 94 or EMAIL
EFFECTIVE DEBT COLLECTION.......
Many companies may offer debt collection services, how do you know who to choose and in the end who will be most effective at getting your money? If you have tried every available avenue yourself then why would another company sending a letter work any better?
Ok, sometimes it does – sometimes people may be frightened when they receive a letter from a third party but this is a very small percentage.
You need to decide what action you are prepared to take. Effective debt collection will cost you; this is not fees but court costs. There are lots of routes you can go down to collect a debt BUT you need to ensure that you follow the correct procedures before each step.
For example, if the debt is owed to you by a Limited Company you can issue a Winding-Up Petition if the debt is over £750 – this in effect means that if the company doesn’t pay or doesn’t offer you an acceptable amount / instalment then the company will be “wound up”.
If the debt is owed to you by a Sole-Trader / Individual then you can get a Stat Demand issued for bankruptcy – this can be very effective if the debtor owns their own property. If they do own their own property then another option would be a “charging Order” on their property.
As with everything there are pro’s and con’s – especially with the bankruptcy route – if the debtor doesn’t own any assets then you are not likely to see your money and may be a blessing in disguise for them as it will not only wipe out your debt but other as well.
If you are owed monies then it is best to get advice. We offer free informal advice therefore if you wish to discuss anything then please get in touch:-
Ok, sometimes it does – sometimes people may be frightened when they receive a letter from a third party but this is a very small percentage.
You need to decide what action you are prepared to take. Effective debt collection will cost you; this is not fees but court costs. There are lots of routes you can go down to collect a debt BUT you need to ensure that you follow the correct procedures before each step.
For example, if the debt is owed to you by a Limited Company you can issue a Winding-Up Petition if the debt is over £750 – this in effect means that if the company doesn’t pay or doesn’t offer you an acceptable amount / instalment then the company will be “wound up”.
If the debt is owed to you by a Sole-Trader / Individual then you can get a Stat Demand issued for bankruptcy – this can be very effective if the debtor owns their own property. If they do own their own property then another option would be a “charging Order” on their property.
As with everything there are pro’s and con’s – especially with the bankruptcy route – if the debtor doesn’t own any assets then you are not likely to see your money and may be a blessing in disguise for them as it will not only wipe out your debt but other as well.
If you are owed monies then it is best to get advice. We offer free informal advice therefore if you wish to discuss anything then please get in touch:-
0800 4 96 95 94 or EMAIL
Tuesday, 18 August 2009
TENABLE BUSINESS SUPPORT NOW INCLUDES FREE COMPANY CREDIT CHECKS.......
We recently sent questionnaires to our members asking what we could do to improve our service. A number of people responded and said that they would like the membership to include credit checks - so we've done exactly that! Our membership now includes 5 credit checks per month. This makes Tenable Business Support even better value for money.
The Credit Checks are thorough and can be done on any UK Limited company. Although we cannot tell you who to give credit to and who not to we can advise how they run the company so far - if their accounts are up to date, if they have any CCJ's but more importantly we look at the directors. Are they in the habit of closing companies and starting up again?
All of the information will give you a clearer picture of who you are dealing with.
This information will be with you within an hour therefore you can give your potential client an answer the same day.
The membership to Tenable Business Support is £25 per month or £249 per year. Credit Checks are only one of the benefits! To see full details of how Tenable Business Support can help your business visit the website.
If you would like further information the please do not hesitate to email me or call me on 0800 4 96 95 94 for an informal chat.
The Credit Checks are thorough and can be done on any UK Limited company. Although we cannot tell you who to give credit to and who not to we can advise how they run the company so far - if their accounts are up to date, if they have any CCJ's but more importantly we look at the directors. Are they in the habit of closing companies and starting up again?
All of the information will give you a clearer picture of who you are dealing with.
This information will be with you within an hour therefore you can give your potential client an answer the same day.
The membership to Tenable Business Support is £25 per month or £249 per year. Credit Checks are only one of the benefits! To see full details of how Tenable Business Support can help your business visit the website.
If you would like further information the please do not hesitate to email me or call me on 0800 4 96 95 94 for an informal chat.
Friday, 31 July 2009
DEBT ADVICE NOW FOR SCOTLAND
Tenable Solutions Limited are now able to offer advice for companies / individuals in Scotland. There are small differences in the law that covers Scotland and these affect the solutions that you are offered for your problem.
It is uncommon for a company to offer advice to Scotland as well ad England and Wales but we have a qualified and dedicated team who can provide expert debt advice for Scotland as well as England and Wales. We understand the differences in the law and can advise the best possible route for you based on your personal circumstances.
LILA
LILA is a similar to the Debt Relief Order which came into force in England & Wales in April 2008. In a nutshell it is a new route to bankruptcy for people who have a low income and negligible assets and reside in Scotland.
LILA is a solution for people who are unable to clear their debt because they are unable to repay their debt within a sensible timescale this being because they are on a minimal income and have no assets.
LILA is granted by the Accountant in Bankruptcy if you meet the strict criteria. The current cost to apply for bankruptcy via LILA is £100.
The current determining criteria for LILA is:-
It is uncommon for a company to offer advice to Scotland as well ad England and Wales but we have a qualified and dedicated team who can provide expert debt advice for Scotland as well as England and Wales. We understand the differences in the law and can advise the best possible route for you based on your personal circumstances.
LILA
LILA is a similar to the Debt Relief Order which came into force in England & Wales in April 2008. In a nutshell it is a new route to bankruptcy for people who have a low income and negligible assets and reside in Scotland.
LILA is a solution for people who are unable to clear their debt because they are unable to repay their debt within a sensible timescale this being because they are on a minimal income and have no assets.
LILA is granted by the Accountant in Bankruptcy if you meet the strict criteria. The current cost to apply for bankruptcy via LILA is £100.
The current determining criteria for LILA is:-
- Earning less than £229.50 per week for 40 hours (if you receive income support, job-seekers allowance, working tax-credits then you will be treated as meeting the low income text even if your weekly income is more than £229.50)
- Do not own one single asset worth more than £1,000 and total assets worth no more than £10,000
- Not able to meet your current repayments and charges
- Have debts over £1,500
As with everything relating to debt there are pros and cons - every one's situation is different. If you would like to find out more about LILA then please do not hesitate to get in touch.
Protected Trust Deed
A Protected Trust Deed is similar to an Individual Voluntary Arrangement (IVA) in England & Wales. Unlike many other financial solutions it offers flexibility, affordability and protection from creditors.
If you enter into a Protected Trust Deed, you make one affordable monthly payment to an Insolvency Practitioner (IP); they then distribute this to the creditors. the IP also deals with the sale of any significant assets that you may have and again this would be distributed to your creditors.
Some of the advantages of a Protected Trust Deed Include:-
- Interest and penalty charges will be frozen
- Repayment is set at what you can reasonably afforded and this is all you will pay
- All correspondence and queries from your creditors will be dealt with by your Trustee (IP)
- All pressure from your creditors will stop
- After completing a protected Trust Deed (normally 3 years), you will be ready to start afresh financially
If you would like discuss Protected Trust Deeds then please do not hesitate to contact our experienced and knowledgeable staff.
Sequestration
Sequestration is known as "bankruptcy" in England & Wales.
It is imperative that prior to Sequestration you seek advice; sometimes another option may be better suited to your situation such as LILA or Protected Trust Deed.
The key advantages of Sequestration are:-
- Income and benefits will be your to keep
- Your creditors will no longer be able to pursue you or take action against you to recover what you owe
- You will not have to make further payments to your creditors BUT you will have to pay any surplus income to your Trustee
- You can Expert to be discharged after 3 years
With everything there are disadvantages. The disadvantages of Sequestration are:-
- If you acquire any money (wages and pension proceeds excluded) or property after the dates of your Sequestration and before the date of your discharge, you may have to surrender these to you Trustee.
- If you are in paid employment, you may have to make a regular contribution to more than one year.
- If you own any valuable assets (including endowment polices) these will have to be sold.
- It is deemed unlawful to incur credit of more than £500 whilst Sequestrated unless the lender is aware that you are an undischarged bankrupt.
- You are not allowed to start up or be in voled in the day-to-day management of a Limited company.
- You are not allowed to act as a member of Parliament and there are certain other restrictions, such as acting as a member of any school board or local council etc.
- Sequestration will be advertised in the Edinburgh Gazette and may be noted by credit referencing agencies.
- You may have difficulties in obtaining credit after your discharge.
Every one's individual situation differs and so does our advice. With a few simple questions we will be able to advise you on the best option to suit you.
If you would like to discuss Sequestration please do not hesitate to contact us.
Debt Management Plan
A Debt Management Plan is the same in Scotland as it is in England & Wales. It should be viewed as a short-term debt solution and is an informal arrangement with your creditors.
It is an ideal solution for someone who needs to reduce their monthly repayments in order to get their finances back on track. The Debt Management Process begins by assessing your income and expenditure - once this has been done it the becomes clear how much money you have "spare" each month to pay your creditors.
We then negotiate on your behalf with your creditors to accept a lower monthly payment. Once this has been done you pay your monthly payment to us and we then distribute it to your creditors on your behalf.
The advantages of a Debt Management Plan are:-
- Relives creditor pressure
- We manage your monthly payment therefore you pay one simple, affordable payment
- In many cases your interest can be frozen or reduced
- There are no penalties for cancelling the plan at anytime
If you feel that you would benefit from a Debt Management Plan or would like to discuss your options then please do not hesitate to contact us.
Thursday, 30 July 2009
UNLICENSED DEBT COLLECTION COMPANY.........
Cowboys in the field of debt collection are renowned, but i have never actually come across one.........until today that is!
A member of Tenable Business Support Service called today about a problem with a debt collection company. They faxed me over this letter that they had recieved - quite frankly my 4 year old daughter could have been more creative in producing the letterhead! It had clearly just been produced using Clip Art in Microsoft Word.
The letter was very threatening - using lots of legal jargon, the content to someone not in the know looked quite plausible BUT one major floor - threatening to tell other customers of the debt! Now this is against the law!
Now my advice to the client was to call The Office of Fair Trading immediately as the letter does not state a Consumer Credit License number. This in itself is an offence BUT the company in question does not even hold one!
So........if you ever recieve a letter from a debt collection company and want to know whether they are legit - log onto the OFT website here to check.
If you would like to have an informal discussion about this post or anything else relating to business or debt please do not hesitate to contact me.
A member of Tenable Business Support Service called today about a problem with a debt collection company. They faxed me over this letter that they had recieved - quite frankly my 4 year old daughter could have been more creative in producing the letterhead! It had clearly just been produced using Clip Art in Microsoft Word.
The letter was very threatening - using lots of legal jargon, the content to someone not in the know looked quite plausible BUT one major floor - threatening to tell other customers of the debt! Now this is against the law!
Now my advice to the client was to call The Office of Fair Trading immediately as the letter does not state a Consumer Credit License number. This in itself is an offence BUT the company in question does not even hold one!
So........if you ever recieve a letter from a debt collection company and want to know whether they are legit - log onto the OFT website here to check.
If you would like to have an informal discussion about this post or anything else relating to business or debt please do not hesitate to contact me.
0800 4 96 95 94 or EMAIL
Thursday, 23 July 2009
ALL IN A DAYS WORK.............
I have now been speaking with a company for 6 months, the owner of the business (sole-trader) still to this day cannot believe that we are still calling him to help him with his problems.............and the fact he hasn't paid us a penny.
Like you will have read all along through this blog - we offer a unique service and we pride ourselves on that fact! How many other companies would supply information for free?
The problem he had related to a CCJ - the petitioning creditor would not accept his offer to pay by installments and he was being threatened by County Court Bailiffs. Understandably he was worred. I printed off the forms he needed to fill in, filled in the forms and posted them to him for him to sign and take to the County Court.
He has now had the offer accepted and is happy that the worry and stress has been taken from him.
Problems won't go away, don't bury your head in the sand! If you need impartial, friendly advice on any issue relating to debt then call me!
Like you will have read all along through this blog - we offer a unique service and we pride ourselves on that fact! How many other companies would supply information for free?
The problem he had related to a CCJ - the petitioning creditor would not accept his offer to pay by installments and he was being threatened by County Court Bailiffs. Understandably he was worred. I printed off the forms he needed to fill in, filled in the forms and posted them to him for him to sign and take to the County Court.
He has now had the offer accepted and is happy that the worry and stress has been taken from him.
Problems won't go away, don't bury your head in the sand! If you need impartial, friendly advice on any issue relating to debt then call me!
0800 4 96 95 94 or EMAIL
Tuesday, 21 July 2009
SALES POSITION AVAILABLE...........
Tenable Solutions Limited have expanded and we have launched a new business concept.
We are looking for motivated, experienced sales staff to run their own “business”. There is no cost involved – no set-up fee – no cost for materials etc, you will receive telephone and email support from our Wakefield office.
The suitable candidate will:-
· Have their own vehicle / use of a vehicle
· Be self-motivated
· Want to run their own business
· Be ambitious
· Love a challenge
· Have excellent interpersonal skills
· Be able to “close” a sale
· Have access to the internet
Realistic earnings for this position is around £400 per week but there is no limit, your earnings will only be limited by how much time/effort you put in. This is a self-employed position and therefore the chosen candidate(s) will be responsible to pay their own tax.
If you would like to be considered for this position please forward an up-to-date CV to EMMA
We are looking for motivated, experienced sales staff to run their own “business”. There is no cost involved – no set-up fee – no cost for materials etc, you will receive telephone and email support from our Wakefield office.
The suitable candidate will:-
· Have their own vehicle / use of a vehicle
· Be self-motivated
· Want to run their own business
· Be ambitious
· Love a challenge
· Have excellent interpersonal skills
· Be able to “close” a sale
· Have access to the internet
Realistic earnings for this position is around £400 per week but there is no limit, your earnings will only be limited by how much time/effort you put in. This is a self-employed position and therefore the chosen candidate(s) will be responsible to pay their own tax.
If you would like to be considered for this position please forward an up-to-date CV to EMMA
Monday, 20 July 2009
DEBT COLLECTION ADVICE..........
When trying to collect a debt you need to ensure that you have all the evidence. Make sure you print off those emails, make notes of those conversations. If it comes to a hearing in court you need to have all of the ammunition there and then to ensure that the judge goes in your favour.
We can help with effective debt collection if your methods have failed.
If you want any advice or help with debt collection please do not hesitate to contact me:-
We can help with effective debt collection if your methods have failed.
If you want any advice or help with debt collection please do not hesitate to contact me:-
0800 4 96 95 94 or EMAIL
Friday, 17 July 2009
NORMAL SERVICE RESUMED !!
Sorry for the lack of blogs recently! We have been so busy at the office. We have a couple of new and exciting things that are now up and running under the umbrella of Tenable Solutions Limited. We now have:-
Pure Financial Management
This is a debt management company to help individuals who may be struggling to pay their credit cards, loans etc. The demand for this kind of service has increased dramatically as everyone is now feeling the pinch with the economic climate.
It also appears that Pure Debt Solutions are no more; we are being inundated with calls from worried customers. If you are a customer of theirs and are reading this – give us a call! We can help!
Tenable Business Support Service
This is such an exciting and unique concept and this has been launched officially this week. In a nutshell it is an support service for businesses of any kind. It doesn’t matter whether you are a Sole-Trader or large Limited Company – we can help! It is affordable (£25pm) and the advice and support you will receive will be invaluable. Once you join you will be assigned your own Personal Account Manager who will be on hand during office hours, in the evening and on weekends too. For more information log onto http://www.tenable-business-support.co.uk/
Of course Tenable Solutions Limited is still available to help companies who are in trouble currently. This may be with issues such as CCJ’s, bailiffs, Winding-Up Petitions etc.
If you feel you would benefit from an informal chat regarding any issue covered then please do not hesitate to get in touch
0800 4 96 95 94 or EMAIL
Pure Financial Management
This is a debt management company to help individuals who may be struggling to pay their credit cards, loans etc. The demand for this kind of service has increased dramatically as everyone is now feeling the pinch with the economic climate.
It also appears that Pure Debt Solutions are no more; we are being inundated with calls from worried customers. If you are a customer of theirs and are reading this – give us a call! We can help!
Tenable Business Support Service
This is such an exciting and unique concept and this has been launched officially this week. In a nutshell it is an support service for businesses of any kind. It doesn’t matter whether you are a Sole-Trader or large Limited Company – we can help! It is affordable (£25pm) and the advice and support you will receive will be invaluable. Once you join you will be assigned your own Personal Account Manager who will be on hand during office hours, in the evening and on weekends too. For more information log onto http://www.tenable-business-support.co.uk/
Of course Tenable Solutions Limited is still available to help companies who are in trouble currently. This may be with issues such as CCJ’s, bailiffs, Winding-Up Petitions etc.
If you feel you would benefit from an informal chat regarding any issue covered then please do not hesitate to get in touch
0800 4 96 95 94 or EMAIL
Friday, 26 June 2009
PROTECT YOURSELF AGAINST BAD DEBTS...
The root cause of most businesses problems is non-payers. You do the work in good faith and then when it comes to payday the client disappears and ignores all invoices, calls and emails. The only way of getting the money in then is to start collection proceedings which can be costly.
With so many companies falling foul to this kind of business practice we have come up with a solution! Credit check the company before you carry out the work – you can then decide whether you believe them to be credit worthy or whether you will insist on upfront payment. It is irrelevant how long you have known them! In this economic climate everybody is at risk.
A company credit check will highlight a number of things such as:-
· Existing County Court Judgments (CCJ’s) and whether they are satisfied or unsatisfied
· Whether they have court proceedings currently against them
· If the directors have a history of opening and closing businesses
· Give you an up-to-date advisory credit limit.
· Give you a credit rating (scaled 0-100)
This service is quick and easy to use and only takes a couple of minutes. Once you are aware of your exposure, you can take the necessary steps to reduce it.
The costs are as follows:-
1 search £12.50
2 search £18.00
3+ searches £5.00 each search
Or if you plan on doing several in a month we are able to offer you unlimited checks for £20 per month (minimum term of 3 months)
In order to protect yourself all you need to do is call me on 0800 4 96 95 94 or EMAIL
N.B. The above prices are inclusive of VAT and credit card charges.
With so many companies falling foul to this kind of business practice we have come up with a solution! Credit check the company before you carry out the work – you can then decide whether you believe them to be credit worthy or whether you will insist on upfront payment. It is irrelevant how long you have known them! In this economic climate everybody is at risk.
A company credit check will highlight a number of things such as:-
· Existing County Court Judgments (CCJ’s) and whether they are satisfied or unsatisfied
· Whether they have court proceedings currently against them
· If the directors have a history of opening and closing businesses
· Give you an up-to-date advisory credit limit.
· Give you a credit rating (scaled 0-100)
This service is quick and easy to use and only takes a couple of minutes. Once you are aware of your exposure, you can take the necessary steps to reduce it.
The costs are as follows:-
1 search £12.50
2 search £18.00
3+ searches £5.00 each search
Or if you plan on doing several in a month we are able to offer you unlimited checks for £20 per month (minimum term of 3 months)
In order to protect yourself all you need to do is call me on 0800 4 96 95 94 or EMAIL
N.B. The above prices are inclusive of VAT and credit card charges.
Thursday, 25 June 2009
DISCONNECTION - DO YOU KNOW THE LAW?
With the current economic climate many people are suffering with arrears with their utility suppliers (gas, electricity, water). Many will be threatened with disconnection. This can be a very daunting time and many people may bury their head in the sand as they do not know who to turn to.
We understand the law surrounding disconnection and are happy to help whether your problem relates to business or individual arrears.
If you are faced with disconnection and would like some friendly, informal advice then contact me:-
We understand the law surrounding disconnection and are happy to help whether your problem relates to business or individual arrears.
If you are faced with disconnection and would like some friendly, informal advice then contact me:-
0800 4 96 95 94 or EMAIL
Monday, 22 June 2009
BACK TO THE FUTURE WITH "BMV" PROPERTY BONANZA
Everyone is aware that the market is awash with below mark value bargains which, until now people have not been able to access because of the lending “drought”. The tables have now turned and once again we have access to RESIDENTIAL and COMMERICAL finance for professional property investors. This is the best bit of news for nearly 2 years!
We are offering you an unprecedented opportunity in the current market:-
*Suitable for below market value properties
*Suitable for new builds – CML declaration no problem!
*85% LTV (loan to value) can be up to 100% of the actual purchase price
*Interest Only available (2-5 years) then convert to repayment
*Commercial Loans available form 4.45%
Qualifications
*Must have mortgage on own home and at least 2 buy-to-let mortgages
*Must have clean credit history, slight adverse may be accepted by discretion
*Must be employed or self-employed and may have to provide proof of income
Decision In Principal (DIP), normally turned round within 48 hours.
FOR MORE INFORMATION OR TO APPLY CALL 0800 4 96 95 94 OR EMAIL
Wednesday, 17 June 2009
BAILIFFS.......
If you have a bailiff at your door whether it be for personal reasons or business it can be very daunting and you may feel intimidated and embarrased. There are things that you can do and there is always a way round this!
If you need FREE advice on bailiffs and the law or any other matter relating to business or personal debt then contact me. I offer friendly, impartial advice in a language that you will understand.
If you need FREE advice on bailiffs and the law or any other matter relating to business or personal debt then contact me. I offer friendly, impartial advice in a language that you will understand.
0800 4 96 95 94 or EMAIL
Monday, 8 June 2009
BUSINESS SUPPORT SERVICE.........
I’m sure we don’t need to tell you that the past two years have been turbulent financially; so many businesses have had to sadly close their doors and cease trading. Hopefully you are one of the lucky ones! Where do you turn to when your business goes through a “sticky” patch? Your accountant? Your solicitor? If you have answered “yes” to either of these then I am sure you will be aware of the weighty bills that they charge for offering you a little guidance.
We have come up with the concept of offering a BUSINESS SUPPORT SERVICE; you can use this at any time of your business life. You may feel that your business is flourishing or you may be struggling with your businesses finances. Whatever stage you are at the BUSINESS SUPPORT SERVICE can help you!
The package it tailor-made to suit your businesses individual needs and you will be given access to a personal account manager who will be on hand to provide support not just during office hours. We understand that most business people do not work “9-5” therefore you can contact your personal account manager in the evenings and on weekends too. Whenever you feel you need some friendly, impartial advice.
We have our own in-house accounts and legal team. Because of this your problem / query is dealt with as a matter of urgency – your personal account manager can oversee all of your queries and explain the solutions in terms that you understand.
Just some of the services included in our package are:-
· One site visit from your Personal Account Manager
· Advice on effective debt collection
· HMRC advice – to ensure you are being compliant and to solve any problems / queries
· Advice on cashflow queries
· Help raising finance
· Assistance with financial problems – CCJ’s, Winding-Up Petitions
· 24 /7 telephone support
· Ensuring that your assets are protected correctly
BUSINESS SUPPORT SERVICE is available to businesses of all sizes – whether you are a sole-trader or you are a large Limited Company.
The cost for the service is £25 per month or if you would like to pay for the service annually it is £249 – a saving of £51!
To become a member of our BUSINESS SUPPORT SERVICE or for an informal chat call Lucy on 0800 4 96 95 94 or EMAIL
or visit the site http://www.tenable-business-support.co.uk/
We have come up with the concept of offering a BUSINESS SUPPORT SERVICE; you can use this at any time of your business life. You may feel that your business is flourishing or you may be struggling with your businesses finances. Whatever stage you are at the BUSINESS SUPPORT SERVICE can help you!
The package it tailor-made to suit your businesses individual needs and you will be given access to a personal account manager who will be on hand to provide support not just during office hours. We understand that most business people do not work “9-5” therefore you can contact your personal account manager in the evenings and on weekends too. Whenever you feel you need some friendly, impartial advice.
We have our own in-house accounts and legal team. Because of this your problem / query is dealt with as a matter of urgency – your personal account manager can oversee all of your queries and explain the solutions in terms that you understand.
Just some of the services included in our package are:-
· One site visit from your Personal Account Manager
· Advice on effective debt collection
· HMRC advice – to ensure you are being compliant and to solve any problems / queries
· Advice on cashflow queries
· Help raising finance
· Assistance with financial problems – CCJ’s, Winding-Up Petitions
· 24 /7 telephone support
· Ensuring that your assets are protected correctly
BUSINESS SUPPORT SERVICE is available to businesses of all sizes – whether you are a sole-trader or you are a large Limited Company.
The cost for the service is £25 per month or if you would like to pay for the service annually it is £249 – a saving of £51!
To become a member of our BUSINESS SUPPORT SERVICE or for an informal chat call Lucy on 0800 4 96 95 94 or EMAIL
or visit the site http://www.tenable-business-support.co.uk/
Friday, 5 June 2009
HAVE YOUR FINANCES CHANGED LIKE THE WEATHER?!
After a brief week of sunshine the weather looks like its changed for the worse! Are your finances mirroring this?
Whether you are an individual or a business we can help. We offer free, friendly, impartial advice on all aspects of finance from Debt Management Plans, IVA's, CVA's and we can even help when you think there is nothing that you can do!
Court action does not signify the end!
Whether you are an individual or a business we can help. We offer free, friendly, impartial advice on all aspects of finance from Debt Management Plans, IVA's, CVA's and we can even help when you think there is nothing that you can do!
Court action does not signify the end!
Call me today on freephone 0800 4 96 95 94 or EMAIL to find out for FREE what options you have available.
Wednesday, 3 June 2009
PURE FINANCIAL MANAGEMENT NOT TO BE CONFUSED WITH PURE DEBT SOLUTIONS.......
In one of my previous blogs I let everyone know about a fantastic new concept which we were commencing – the Debt Management Company called Pure Financial Management. Pure Financial Management will be a trading style of Tenable Solutions Limited.
We are in the early stages of setting up this company so were astounded to find that we already had people calling us regarding it (or so we thought)...........
They were actually calling for a company called Pure Debt Solutions, a company based in Wales. Now the bizarre thing is these people claim to be customers of Pure Debt Solutions and say that they have been paying money to them for the last couple of months and now the phone line is dead therefore were calling Pure Financial Management as they believed we were the same company.
I have searched high and low on the internet and not come up with anything apart from an address! No website and certainly no phone number.
If you have come across this post as a customer of Pure Debt Solutions then my suggestion to you would be to firstly contact your creditors and ensure that your payments to them have been made accordingly and then to report the company to the OFT (Office of Fair Trading).
If you would like some friendly, impartial advice on your debts and where to turn please call Lucy on freephone 0800 4 96 95 94 or EMAIL.
We are in the early stages of setting up this company so were astounded to find that we already had people calling us regarding it (or so we thought)...........
They were actually calling for a company called Pure Debt Solutions, a company based in Wales. Now the bizarre thing is these people claim to be customers of Pure Debt Solutions and say that they have been paying money to them for the last couple of months and now the phone line is dead therefore were calling Pure Financial Management as they believed we were the same company.
I have searched high and low on the internet and not come up with anything apart from an address! No website and certainly no phone number.
If you have come across this post as a customer of Pure Debt Solutions then my suggestion to you would be to firstly contact your creditors and ensure that your payments to them have been made accordingly and then to report the company to the OFT (Office of Fair Trading).
If you would like some friendly, impartial advice on your debts and where to turn please call Lucy on freephone 0800 4 96 95 94 or EMAIL.
Tuesday, 2 June 2009
PROTECT YOURSELF FROM NON-PAYERS!!!!
The root cause of most businesses problems is non-payers. They do the work in good faith and then when it comes to payday the client disappears and ignores all invoices, calls and emails. The only way of getting the money in then is to start collection proceedings which can be costly.
With so many companies falling foul to this kind of business practice we have come up with a solution! Credit check the company / director before you carry out the work – you can then decide whether you believe them to be credit worthy or whether you will insist on upfront payment.
A company credit check will highlight a number of things such as:-
· Existing County Court Judgments (CCJ’s) and whether they are satisfied or unsatisfied
· Whether they have court proceedings currently against them
· If the directors have a history of opening and closing businesses
· Give you an up-to-date advisory credit limit.
· Give you a credit rating (scaled 0-100)
This service is quick and easy to use and only take a couple of minutes.
The costs are as follows:-
1 search £12.50
2 search £18.00
3+ searches £5.00 each search
In order to protect yourself all you need to do is call me on freephone 0800 4 96 95 94 during office hours or EMAIL.
N.B. The above prices are inclusive of VAT and credit card charges.
Monday, 1 June 2009
IS THE SUN SHINING ON YOUR BUSINESS??
Why is it when the sun is shining all of your problems don’t seem half as bad?! But the reality is nothing will have changed, the letters and phone calls will still continue and bailiffs will still call. Life goes on even though the sun is shining.
So many businesses are struggling alone; it is all too easy to try and ignore what is happening and hope (and pray) that it goes away. The truth is it won’t go away unless you get help.
Many people are embarrassed to ask for help, pride stops them. They fear that people will judge them and their business that they have worked so try and sustain. Tenable Solutions are REAL people; we don’t sit in judgement as many of us have been there before. You will receive nothing but support from the moment you call. Like the old saying says – ‘a problem shared is a problem solved’!
Just some of the issues we can help you with:-
· HMRC problems – Tax & VAT
· Creditor Pressure – are you being harassed?
· CCJ’s – We offer a FREE helpline
· Protecting Assets - A director’s loan account does NOT give protection
· Bankruptcy – It is not the end!
· Debt collection – make sure you choose the right course of action
All our advice is given FREE OF CHARGE and without obligation. We work nationally therefore we can come to you at a time and place convenient or if you are local you can come to our offices situated in Wakefield, West Yorkshire.
You really don’t need to suffer alone, we can your stress away from the moment you call..........and then you can get back to enjoying the hot weather!
For an informal chat please call me on 0800 4 96 95 94 or EMAIL
Wednesday, 20 May 2009
WANT TO SELL BUT CAN'T AFFORD TO?? THINK AGAIN.........
The credit crunch looms and more people are forced to TRY and sell either their business or their home; this maybe to release equity or even just to minimise expenses. There is often one snag – the fact that you have to pay out unaffordable amounts to advertise your house / business. This leaves many people getting further into debt in the hope that they will recoup it after the sale. There is now another answer.......why not do it for FREE?
Montague Lloyd are basically cutting out the middle man hence being able to offer you the service FREE OF CHARGE!
You decide exactly what you want to put; you do this in your words and you can even add images – you can also decide how you wish to be contacted by prospective buyers. The interested parties will then contact YOU direct and you can arrange an appointment at a time to suit you.
This will save you thousands! Which in this day in age can you afford not to?!
To advertise your business / home or for more information CLICK HERE
Montague Lloyd are basically cutting out the middle man hence being able to offer you the service FREE OF CHARGE!
You decide exactly what you want to put; you do this in your words and you can even add images – you can also decide how you wish to be contacted by prospective buyers. The interested parties will then contact YOU direct and you can arrange an appointment at a time to suit you.
This will save you thousands! Which in this day in age can you afford not to?!
To advertise your business / home or for more information CLICK HERE
Tuesday, 12 May 2009
ARE YOU BEING BULLIED DOWN THE INSOLVANCY ROUTE?
So many of our customers come to us for a second opinion. Generally the first lot of advice they receive steers them down the route of insolvency, this is normally because of the lucrative fees the company can make out of them! They have no morals in finding the correct solution to the persons problems and all they see is pound signs!
We differ because we look at things from a different perspective. For example only a small percentage (around 2%) of customers who call us end up in a CVA.
Our advice doesn’t cost you anything and you are not obliged to act upon any advice given. We excel as a company because customer service is paramount, we will always be honest and ethical in our advice.
So, if you would like a second opinion on any advice you have received contact me today:
We differ because we look at things from a different perspective. For example only a small percentage (around 2%) of customers who call us end up in a CVA.
Our advice doesn’t cost you anything and you are not obliged to act upon any advice given. We excel as a company because customer service is paramount, we will always be honest and ethical in our advice.
So, if you would like a second opinion on any advice you have received contact me today:
0800 4 96 95 94 or EMAIL
Thursday, 7 May 2009
THE FUTURE'S BRIGHT.........THE FUTURE IS PURE!
Due to increasing demand Tenable Solutions Limited have recently launched their own brand of debt management under the name of PURE FINANCIAL MANAGEMENT.
A lot of our clients have informed us that they have received bad service from various different debt management companies. We therefore decided that there was a niche in the market for a company who is entirely customer focused. All our staff are implicitly trained and customer service is paramount.
PURE FINANCIAL MANAGEMENT can help you if, as many people are in this day in age, are struggling to meet the minimum repayments on credit cards, loans, catalogues and store cards. A debt management plan is an informal agreement between you and your creditors. With one simple call all your worry and pressure can be taken away as PURE FINANCIAL MANAGEMENT negotiate with creditors on your behalf.
They liaise with all your creditors – asking them to freeze interest and to accept a lower monthly payment. You will also be assigned your own personal account manager who will be on hand to answer any questions you may have. You will pay one monthly amount and PURE FINANCIAL MANAGEMENT will distribute this between your creditors.
If you would like to learn more about PURE FINANCIAL MANAGEMENT then you can call me on freephone 0800 4 96 95 94 or EMAIL.
Remember, no matter what your worries are – there is always a solution!
A lot of our clients have informed us that they have received bad service from various different debt management companies. We therefore decided that there was a niche in the market for a company who is entirely customer focused. All our staff are implicitly trained and customer service is paramount.
PURE FINANCIAL MANAGEMENT can help you if, as many people are in this day in age, are struggling to meet the minimum repayments on credit cards, loans, catalogues and store cards. A debt management plan is an informal agreement between you and your creditors. With one simple call all your worry and pressure can be taken away as PURE FINANCIAL MANAGEMENT negotiate with creditors on your behalf.
They liaise with all your creditors – asking them to freeze interest and to accept a lower monthly payment. You will also be assigned your own personal account manager who will be on hand to answer any questions you may have. You will pay one monthly amount and PURE FINANCIAL MANAGEMENT will distribute this between your creditors.
If you would like to learn more about PURE FINANCIAL MANAGEMENT then you can call me on freephone 0800 4 96 95 94 or EMAIL.
Remember, no matter what your worries are – there is always a solution!
Tuesday, 5 May 2009
COMMERCIAL TENANTS CAN NOW FIGHT THE RECESSION!
I am sure if you take a trip down your high street you will see numerous shops shut down with “to let” signs outside. Not since the recession of the early 1990’s have we seen as many retail casualties; Reduction in overall sales / profits mirrored with over-inflated rents mean more tenants are closing their doors, independent retailers seeing the heaviest fall in sales. It is anticipated that things will only worsen as consumer spending collapses further and there will be several years of negative rental growth.
The booming property market has brought about long leases with infrequent or upward-only reviews and this leaves many tenants either “sweating it out” or shutting up shop. There is now an answer for those tenants who find themselves in this position.
We specialise in rental reformulation and lease restructuring. We have a highly skilled team who have a proven track record in mediating on behalf of tenants with a genuine need for improved lease terms. We have a wide understanding of landlord / tenant issues and try to benefit all parties by avoiding tenants facing financial crises and landlords with empty units that they are unable to fill! We exhibit genuine needs for tenants to improve their terms during this period of uncertainty and present undeniable cases to landlords on behalf of those tenants.
If you feel that you would like further guidance on this issue please do not hesitate to contact me.
The booming property market has brought about long leases with infrequent or upward-only reviews and this leaves many tenants either “sweating it out” or shutting up shop. There is now an answer for those tenants who find themselves in this position.
We specialise in rental reformulation and lease restructuring. We have a highly skilled team who have a proven track record in mediating on behalf of tenants with a genuine need for improved lease terms. We have a wide understanding of landlord / tenant issues and try to benefit all parties by avoiding tenants facing financial crises and landlords with empty units that they are unable to fill! We exhibit genuine needs for tenants to improve their terms during this period of uncertainty and present undeniable cases to landlords on behalf of those tenants.
If you feel that you would like further guidance on this issue please do not hesitate to contact me.
0800 4 96 95 94 or Email Lucy
Wednesday, 29 April 2009
ARE YOU GETTING THE CORRECT ADVICE???
I am astounded by the conversation i have just had. A client who was looking at bankruptcy had been advised by someone to sell his property and his car to his father for £1 before booking his hearing in order to protect his assets.
How irresponsible and incorrect is that? The Official Reciever would pick up on thsi straight away!!
If you are struggling and feel bankruptcy is the only option - why not get the correct advice?!?
How irresponsible and incorrect is that? The Official Reciever would pick up on thsi straight away!!
If you are struggling and feel bankruptcy is the only option - why not get the correct advice?!?
Call me on freephone 0800 4 96 95 94 or Email
Tuesday, 28 April 2009
WHAT MAKES US SO FANTASTIC?!?!?
If your company is struggling I am sure you will have received lots of communication from various companies offering their services to help you. We like to think that we are different from other companies within our industry; firstly the biggest difference is we work for YOU and not on the behalf of anyone you owe money to. Your situation will be fully and professionally assessed without necessarily proposing an IVA/CVA or bankruptcy. We look to find a solution that suits your individual situation, not one that automatically takes you down the road of insolvency.
We excel as a company because we look at your situation from a different perspective, have those bailiffs acted within the law? Is that finance agreement unenforceable? Are those charges fair? Is that CCJ genuine or can it be set aside? Who owes you money? Once we have the answers we can advise you what your next step should be and look at formulating a plan. Regardless of the situation you find yourself in YOU are still in control of YOUR business. We will not bamboozle you with insolvency jargon; we speak in a language that you will understand.
We understand that it can be quite daunting when you realise your business is experiencing financial difficulties, especially when you have worked hard to try and make your business succeed. Creditors can be quite fickle at times; just when you think you have a payment plan they issue a CCJ without warning, putting all your other payment plans in jeopardy. Acting quickly on these matters is the key to both success & survival.
Listed below are just some of the issues we can help you with:-
· HMRC problems – have you been compliant?
· Creditor pressure – are you being harassed?
· CCJ’s – we offer a free helpline / free advice.
· Protecting assets – a director’s loan account does NOT give protection.
· Winding-Up Petitions / Orders – we offer a free helpline / free advice.
· Bankruptcy – we offer a free helpline / free advice
· Debt Collection – make sure you choose the right course of action
With combined experience of over 60 years, we have a wealth of knowledge and expertise that can help you overcome any hurdles in your way.
If you would like to have an informal chat about how we can help you can call me on freephone
We excel as a company because we look at your situation from a different perspective, have those bailiffs acted within the law? Is that finance agreement unenforceable? Are those charges fair? Is that CCJ genuine or can it be set aside? Who owes you money? Once we have the answers we can advise you what your next step should be and look at formulating a plan. Regardless of the situation you find yourself in YOU are still in control of YOUR business. We will not bamboozle you with insolvency jargon; we speak in a language that you will understand.
We understand that it can be quite daunting when you realise your business is experiencing financial difficulties, especially when you have worked hard to try and make your business succeed. Creditors can be quite fickle at times; just when you think you have a payment plan they issue a CCJ without warning, putting all your other payment plans in jeopardy. Acting quickly on these matters is the key to both success & survival.
Listed below are just some of the issues we can help you with:-
· HMRC problems – have you been compliant?
· Creditor pressure – are you being harassed?
· CCJ’s – we offer a free helpline / free advice.
· Protecting assets – a director’s loan account does NOT give protection.
· Winding-Up Petitions / Orders – we offer a free helpline / free advice.
· Bankruptcy – we offer a free helpline / free advice
· Debt Collection – make sure you choose the right course of action
With combined experience of over 60 years, we have a wealth of knowledge and expertise that can help you overcome any hurdles in your way.
If you would like to have an informal chat about how we can help you can call me on freephone
0800 4 96 95 94 or EMAIL
Friday, 24 April 2009
FRIDAY! LAST DAY OF WORK......FOR SOME ANYWAY!!!
We know that the majority of business people don't work "9-5", because of this we have an out of hours service. A consultant will be on hand until 9pm daily. If you do feel that you could do with some friendly, informal advice you can call a consultant direct on 07595 793236.
Just some of the things we can help with are:-
Of course if you want to speak with me direct you can call me during office hours on:
Just some of the things we can help with are:-
- Creditor Pressure
- HMRC Problems
- Dissolution
- Winding-Up Petitions / Orders
- CCJ's
- Selling your business
Of course if you want to speak with me direct you can call me during office hours on:
0800 4 96 95 94 or email
Thursday, 23 April 2009
DID YOU KNOW THIS ABOUT HMRC?
Were you are aware that HMRC lost their preferential status for debts accrued after 15 September 2003? This was abolished under the Enterprise Act 2002.
If you are struggling with ANY business debts and would like some friednly informal advice give me a call or email me.
If you are struggling with ANY business debts and would like some friednly informal advice give me a call or email me.
FREEPHONE 0800 4 96 95 94 or EMAIL
Wednesday, 22 April 2009
ARE YOUR COMPANIES ASSETS PROTECTED?? IF YOU HAVE A DIRECTORS LOAN ACCOUNT THEY PROBABLY AREN'T!
Did you know that a Directors Loan Account does NOT give protection to your assets if your company fails? A lot of people don’t know this and are under the pretence that they are covered. If you have a Directors Loan Account and your company fails you will just be treated like any other unsecured creditor and as such cannot give yourself preferential treatment!
If you would like to learn more about protecting your assets then give me a call.
If you would like to learn more about protecting your assets then give me a call.
FREEPHONE 0800 4 96 95 94 or EMAIL
Monday, 20 April 2009
WINDING-UP PETITIONS! IT ISN'T THE END!
Today i have been advising someone who had recieved a Winding-Up Petition from the court. Obviously when they recieved it they were panic stricken; problems had been building up over the last 6 months and they had been burying their heads in the sands and trying to keep their heads aflot by "robbing Peter to pay Paul" - only trouble was "Peter" had run out of money!
A creditor had finally had enough and decided to issue a Winding-Up Petition.
What people don't realise is that a Winding-Up Petition doesn't have to mean it is the end of your business - you just need to get the right advice!
If you would like a friendly, informal chat about any problems your business may be facing then call me on FREEPHONE 0800 4 96 95 94 or EMAIL
A creditor had finally had enough and decided to issue a Winding-Up Petition.
What people don't realise is that a Winding-Up Petition doesn't have to mean it is the end of your business - you just need to get the right advice!
If you would like a friendly, informal chat about any problems your business may be facing then call me on FREEPHONE 0800 4 96 95 94 or EMAIL
Sunday, 19 April 2009
Sunday - day of rest..........and no post!!!
The last day of the weekend......have you got that sickly feeling that the phone calls and letters start again in the morning?!?! Lots of companies suffer from creditor pressure, this may just be due to a "blip" in cashflow or even that you have lots of bad debts that you can't chase in.
If you do feel that you could do with some friendly, free advice then give me call.
If you do feel that you could do with some friendly, free advice then give me call.
FREEPHONE 0800 4 96 95 94 or email LUCY
Saturday, 18 April 2009
DO YOU KNOW THE SECRET?
I am sure everyone this year is wondering whether they will be able to afford a holiday. I have been scouring the internet for the last four weeks trying to find some cheap flights and i have found a site which i thought i would share with everyone.
Basically, this is "Secret Flights" which is an initiative by Lastminute.com. Have a look for yourself and see if you can bag a bargain and give yourself a well deserved break. TOP SECRET FLIGHTS
I appreciate that some people still may feel they cannot afford a holiday, maybe your company is suffering from creditor pressure or you are having cash flow problems.
Why not give me a call, we can help!! Let us take away your stress and put you back in control of your companies finances.
Basically, this is "Secret Flights" which is an initiative by Lastminute.com. Have a look for yourself and see if you can bag a bargain and give yourself a well deserved break. TOP SECRET FLIGHTS
I appreciate that some people still may feel they cannot afford a holiday, maybe your company is suffering from creditor pressure or you are having cash flow problems.
Why not give me a call, we can help!! Let us take away your stress and put you back in control of your companies finances.
0800 4 96 95 94 or email Lucy
Friday, 17 April 2009
KNOCK, KNOCK! THE BAILIFFS ARE COMING.........
Yesterday seemed to be the day that everyone was having problems with BAILIFFS! I was inundated with calls from people worrying that they’d had a letter from a bailiff firm or that the bailiffs were calling. Understandably they were all worried!
The thing with bailiffs is to remember that they have no real power and that you do NOT have to let them in, no matter what they tell you! If they do turn up don’t panic, stay calm and speak to them outside (closing the door behind you) or from a window. Don’t be intimidated by them.
If you are having problems with bailiffs and would like some friendly advice then give me a call on:
The thing with bailiffs is to remember that they have no real power and that you do NOT have to let them in, no matter what they tell you! If they do turn up don’t panic, stay calm and speak to them outside (closing the door behind you) or from a window. Don’t be intimidated by them.
If you are having problems with bailiffs and would like some friendly advice then give me a call on:
Freephone 0800 4 96 95 94
Or Email LUCY
Thursday, 16 April 2009
FREE CCJ HELPLINE
Probably due to the decline of the economy over recent months I have noticed a significant increase in the number of companies (Limited, Sole Traders, Partnerships etc) being issued with County Court Judgements (CCJ).
Some may be valid but others can be because of a dispute - whatever the reason once issued they are on your credit file! Do you know what to do if you get one? Do you know how to buy yourself more time? Or what your options are? How to dispute it? How to get it removed? Or even how to offer payment if you cannot pay in full?
We have set up a FREE CCJ HELPLINE, it is a freephone number where you can recieve expert advice over the phone on what to do next and how to cope!
Whatever your questions, give me a call and i will offer friendly, unbiased, expert advice all for FREE!
0800 4 96 95 94
or email lucy
Subscribe to:
Posts (Atom)