3 Nov 2020 / Back to latest updates

New Coronavirus Financial Assistance for individuals and Businesses

Amid the news of a further lockdown (whether you agree with it or not) the Government has announced further financial help for businesses and individuals (which are more helpful). We have produced a useful summary so that you have all links in one place.

New Financial Assistance

• Furlough Scheme extended to December (no actual end date) for hours not worked by the employee, the government will pay 80% of wages up to a cap of £2,500.
• Payment holidays can be requested for Credit Cards, personal loans, car finance or pawned goods for six months;
• Borrowers can request a six month payment extension of their mortgage;
• business premises forced to close in England are to receive grants worth up to £3,000 per month under the Local Restrictions Support Grant
• Businesses required to close in England due to local or national restrictions will be eligible for various grants ranging in value from £1,334 to £3,000 for a month.

Further details can be found on the Government’s website.

How we can help you?

• Do you have an unpaid debt and are you not sure if you should request payment or wait given the current circumstances?
• Do you have a judgment but are unsure what to next to get paid?
• Do you have a judgment but have no current address for your debtor and believe it will be too expensive to locate an address?

Answers

• Contact us for assistance.
• The longer that you leave a debt the harder it will be for the agent to recover the debt;
• We are legal professionals who have experience in the Debt Recovery area;
• We can instruct an agent to undertake a trace using a search online at a no trace no fee basis. So, if they are unable to locate the debtor then you do not have to pay their fee and if they are successful their fees range from £50 to £75 plus vat;  
• We have contacts with the enforcement agents to assist you with enforcing your judgment against a debtor; and,
• Our fees are flexible to fit you from fixed fee per letter, no win no fees (and fees paid if we make any recoveries) to reasonable hourly rates.

Contact us today to speak to our friendly team to assist you!