Contact our debt recovery specialists. Call 0141 331 2332
Since lockdown began on 23 March, none of Scotland’s 39 sheriff courts have been processing debt recovery actions. So, what do I mean when I say that we’re "back in business"? Well, as we have been telling our clients, we’ve always been open to guiding you and suggesting the best solutions during the pandemic. Our unswerving advice has been that if we initiated recovery actions during the lockdown, they would be dealt with on a "first come, first served basis" once the courts re-open. Many of our clients have taken this advice and, indeed, the Scottish Courts and Tribunal Service (SCTS) has confirmed that this is how they will be dealt with.
In this live webinar, broadcast on Tuesday 26 May 2020, Managing Director of Yuill + Kyle, Stephen Cowan, looks at how businesses can manage their credit control during this period of lockdown and beyond.
Stephen Cowan will be presenting an online training session with Central Law Training on the topic of 'Extracting Payment from Unwilling Debtors' on Thursday 21 May 2020.
When I give a presentation about legal recoveries, I usually start it by describing the various steps which a credit controller should take before referring an outstanding debt to their lawyer. Essentially, my recommendation is that the controller exhaust their own collection activity before passing the debt to us. Of course, what this will involve entirely depends upon that organisation’s individual credit control policy.
It’s never easy to ask your customers for payment during these difficult times. However, I hope you will find my top ten tips helpful in giving you some ideas how to approach this “thorny” issue. Let me know how you get on, and best of luck.
As probably all company directors know, they are not personally liable for their company’s debts – with some notable exceptions. The current health crisis is likely to mean that many limited companies are facing financial distress. So, it will be understandable that directors will attempt to avoid this problem by sourcing additional funding to tide their business over as well as negotiating extended payment terms from its existing lenders and creditors.
As we are now all aware, the Government has offered businesses a package of support during the current crisis. Packages include sick pay, business rates, tax and insurance as well as the Coronavirus Business Interruption Loan Scheme. Cynics amongst us say that the only aspect that these offerings have in common is that they are all difficult to access, along with the uncertainty as to precisely when any payments will be made.
COVID-19 is causing economic uncertainty across all areas of business and for individual families. Managing Director Stephen Cowan looks at the position on cash collection and what businesses should be aware of.
The Chartered Institute of Credit Management (CICM) is the world’s largest recognised professional body for the credit management community. As well as facilitating professional qualifications, the Institute’s members have access to a host of resources. For example, their “Knowledge Hub” covers such subjects as “credit risk” and “legal and compliance”, as well as “skills builder”.
The basic rule of jurisdiction is that an individual should be sued in the court where they reside, as opposed to the court where a pursuing creditor carries on business. The rationale for this is to protect “consumers” who are seen to be the commercially weaker party in the relationship.
Yuill + Kyle are an extremely focused firm who are achieving great results for us north of the border. Their client-focused staff keep us 'in the loop' so we are able to make timely decisions, helping us to recover more of our money.
I would not hesitate to recommend Yuill + Kyle's services to other business colleagues. I recently sent Yuill + Kyle's pre-sue letter to 2 debtors. Within 2 days of Yuill + Kyle sending these letters one of the debtors paid his £560 and the other his £750, all for the fee of a 7 day letter!
I instructed Yuill & Kyle to send a pre-sue letter to my debtor. This resulted in the debtor paying their outstanding £2750. We also received a letter of apology from them!! Great result!!
I have to say that Yuill + Kyle have represented my best experience to date with solicitors, and although I was unable to take this matter further on this occasion I would have no hesitation in using you again or recommending you to others.
I would really like to recommend your services to everyone considering litigation. Your online service is fast, efficient and easy to use. We found that your costs are simply unbeatable for pre-litigation and I feel sure that when we require legal support, Yuill + Kyle will be our first choice.
Yuill + Kyle successfully recovered £19,000 for our client. We were delighted with their professionalism and fully intend to use them again in the future.
"Stephen Cowan displays calm equanimity in the face of challenging, complex and often adversarial situations, and responds quickly and professionally."
Contact our debt recovery specialists.Call 0141 331 2332
Legal changes can have a dramatic impact on you and your business. To ensure you are kept up to date with the latest developments and have the knowledge to make timely, effective decisions, please sign up for our free updates.