...Beauty, cleaning, DIY tips and more - free to join!
   Login   Contact us   Site map   Puzzle Club   Ask a question    Newsletter

How To Chase Money You Are Owed

Money : Money Management

If you are owed a reasonable sized debt - more than ?750 - then chasing it can be very hard indeed.

Certainly letters and phone calls will not coax a non payer into paying. So what can you do then in this admittedly very hard situation?

Well, the best way to get an advantage is to learn a little about the law with regards insolvency in particular.

Most people think that to try and recover this sum of money one needs to issue a summons and use the county court system.

However what most people don't seem to know is that you can actually bypass this system completely.

Rather, you can issue a notice under section 122f of the 1986 Insolvency Act. The bottom line with this notice is that, if the debt isn't paid within seven days, you can actually start proceedings to get the debtor's business closed down!

By: Fred

Share on Facebook: On Twitter: TwitterTweet this!

  Reply to How To Chase Money You Are Owed

  Receive Our Newsletter

Questions about business:

Ask question

More Articles:
How to improve your credit
Search tips for eBay
How to choose a start price on ebay