We're Celebrating our 40th Birthday! Lane & Co, the specialist commercial debt recovery solicitors, is celebrating its 40th birthday this year. Founded in 1978, we are the UK’s longest established specialist commercial debt recovery firm.
We are pleased to announce the arrival of commercial debt recovery Solicitor Neeru Karra at Lane & Co on the 1st October 2018. We are always looking out for the best up and coming legal talent in our areas of expertise, and we are delighted to welcome Neeru on board.
Our commercial debt recovery solicitors always aim to act quickly and decisively, but our task is always helped if we are instructed accurately. This article looks at some tips that all businesses could benefit from before instructing us – getting things right saves time and money.
Know Your Customers! Late payment is a significant and growing problem in the UK, often causing cash flow difficulties, which can lead to insolvency. Our commercial debt collection solicitors can help. Since 1978 we have recovered £10s of millions of bad debts and late payments for our clients.
In this article our business debt recovery solicitors detail what the new Pre-Action Protocol for Debt Claims is and who it applies to. The Protocol was introduced on 1st October 2017. All creditors now need to comply with this protocol.
The Bank of England raised interest rates on 2nd November 2017 from 0.25% to 0.5%. This will effect you in 2 ways.
New Pre-Action Protocol from 1st October 2017 – How will this affect you?
A new Pre-Action Protocol has been introduced from the 1st October 2017 in relation to what is required in sending a letter of claim to Sole Traders and Individuals.
The Protocol does not apply to business-to-business debts unless the Debtor is a Sole Trader.
Check out your prospective Clients’ payment practices before engaging in business with them
According to ‘UK Debt Collection News’ – UK Tradespeople are owed over £30 Billion in unpaid debt.
The National Federation of Builders has identified that over 30% of late payments are within the construction sector, resulting in £30 Billion being owed to small and […]
More changes are coming –
The Good News is – Business to Business debt recovery will not be affected
The Good News is – For Businesses recovering debts from Individuals / Sole Traders, Lane and Co is working for you
In October a new Pre – Action Protocol comes into force (This updated Pre Action Protocol will apply […]
When your debtor doesn’t pay, what can you do?
When trying to recover a fairly modest trade debt from a company a business does have a number of different options to consider…..
There are a number of points the business should consider before starting court proceedings:
- Have you […]