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APNs and advising your clients

12th June 2018
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Credit Control – Getting in the cash (cheque or direct debit…..)

23rd May 2018
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There’s too much month left at the end of the money!

8th May 2018
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VVA’s Viable Voluntary Arrangements

29th March 2018
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Proposed increase in court fees for the recovery of sums due

Now is the time to sort out your debtors ledger and chase up those debts due to you. It is hard enough these days keeping a tight control of your debtors and making sure they pay you on time if at all. Sometimes you are left with no alternative but to take customers or ex customers to court. It look as though this is going to become much more expensive in the future.

The Government is proposing an increase in the court fees to issue proceedings for the recovery of money due. This increase is to be 5% of the value of the claim for all claims over £10,000. The fees for claims of less than £10,000, which represent over 90% of all money claims, are unaffected by these proposals and will remain at their current levels. The maximum fee to issue proceedings will be £10,000.

Discounts of 10% will apply to these fees where the claim is initiated electronically using the Secure Data Transfer facility or Money Claims Online.

For example if you are owed £51,000 and you issue court proceedings now the initial court fee will be £910 (MCOL £815). If the proposed increase comes in to force the fee will go up to £2550! (5% of £51,000)

For tips and advice in keeping your debtors ledger in order and credit control queries please contact Carol Tindal

Beating the January blues

Christmas seems so long ago, your new year resolutions have already been broken and it’s still a long time until pay day. On top of that its cold, its dark and its snowing! The third Monday of January is dubbed Blue Monday. There is actually a mathematical formula as to how this date is worked out, but we wont bore you with that.


This is the day when the post Christmas financial hangover hits home. January credit card bills are arriving – bringing home just how much you spent at Christmas. The deadline for submitting your 2013/14 tax return is looming.

You can choose to dwell on these negatives or you can turn it around. The weather may be horrid and dark but the days are getting longer (3 minutes per day!) You may have stalled in your resolutions but you can start again – NOW! You have a whole year ahead of you, who knows what it may bring. Be positive and take control.

Financial worry can play havoc with health and mess up relationships. With around  a third of us relying on credit to get through Christmas, this week is evidently one of the busiest of the year for online searches for help with debt advice.  

Unfortunately we can not do anything about the weather or your failure to keep up with that exercise regime. We can offer some really useful help and advice on your money troubles and cleaning up your credit file.

Contact us

 

Changes to debt relief orders (DROs)

Changes to debt relief orders (DROs) and the bankruptcy creditor petition limit have been announced. The DRO debt limit will increase from £15k to £20k. The DRO asset limit will increase to £1k, plus a vehicle (worth less than £1k). The maximum surplus income a person can have to qualify for a DRO will remain at £50 per month. The level of debt that can trigger bankruptcy (creditors petition) will rise from £750 to £5,000. This will come in to effect from 1 October 2015.

Contact us for further information