Today the Bank of England has further increased the base rate from 2.25% to 3% – the biggest hike since 1989. With inflation at its highest for 40 years it is now forecast that the UK is facing a “very challenging” two-year recession. The present economic climate is very clearly not going …

In light of the current economic climate you don’t need us to tell you of the increasing challenges faced by businesses. The continuing and unprecedented rise in interest rates, now being the highest level for 14 years at 2.25% in an effort calm inflation which is at a 40-year high of 9.9%, and th…

Within the last few months there has been a surge in the use of insolvency action against Debtor Companies with a reported 1827 new company insolvencies reported by the end of July 2022. This will only increase further by the end of year as more companies deal with late payments and the increase in …

Episode 9 of Devonshires’ Litigation & Dispute Resolution podcasts features Robert Edge and Ann Dixon from our Debt Recovery team, ranked number 1 by the Legal 500 directory. Robert and Ann discuss with James King of Quality Bailiffs, national High Court Enforcement Officers, about how they as…

This month, the Bank of England has further increased the base rate from 0.75% to 1% in an effort to address the continuing rise of inflation driven by increases in global fuel and food costs. Prices in the UK have risen over the past year by 9%, the highest for some 40 years, with 10% […]…

The Corporate Insolvency and Governance Act 2020 introduced various restrictions on Creditors bringing Winding Up Petitions against Companies during the Covid-19 pandemic. The Government has now announced that the current restrictions which ended on 31 March 2022 will not be further extended and tha…

Some industry areas are seeing a resurgence in growth in the last quarter with retail sales showing a +1.9% in January 2022 and sales volume are up from pre-covid times. All of the above is great news for the economy (and hopefully for your business), however it can distract you from keeping an eye …

We have seen that whilst some industries continue to improve there is still a serious issue with late payments. According to the Federation of Small Businesses around 400,000 businesses may be forced to close this year due to late payments not being received and high inflation. We assist small busin…

If a Debtor refuses to pay your invoice then your terms and conditions can significantly strengthen your position. As a firm of Solicitors at Devonshires Solicitors LLP we have knowledge and experience in reviewing terms and conditions and contracts. Some examples of terms that may be useful to incl…

We have seen more and more Creditors in recent months using the County Court system to register their debts against a Debtor. If the Debtor does not pay the Judgment Debt within a month then the debt becomes registered against the Debtor as a ‘bad debt’ and will become searchable on their Credit…

The most recent Legal 500 directory has been published and we are delighted that the Debt Collection Team has kept its previous year’s ratings of a Tier One Status. Please see the following review from one of our current clients: ‘The team at Devonshires provide a superb service. They do the bas…

Last week the Government announced that they would be introducing temporary changes to the Law on Winding Up Petitions against Companies. Currently, the Government has restricted Creditors’ use of Statutory Demands and Winding Up Petitions (which are used to liquidate a Company) until the 30 Septe…

One of the more frequent questions we get asked from our clients when instructing us on a debt matter is what happens after a Claim for monies is issued? We have created the below graphic to show you the process.…

Devonshires were instructed by a small UK based consultancy company in respect of a debt that had been owed for two years. Payment of the debt together with statutory late payment compensation and monies towards the client’s legal costs were received with our Debt Recovery department having taken …

Having cash flow issues or in need of recovering an unpaid debt or judgment? This year there has seen many restrictions with Insolvency actions and delays with the court in processing disputed claims. Our Top Tips: Speed = the quicker you act the more likely assets have not been sold or moved. Act u…

The government have issued further updates regarding the Commercial Tenants Evictions and Companies Insolvency Procedure: On 16 June 2021 the Government announced that they have extended protection for commercial tenants from eviction to 25 March 2022.  Statutory demands and winding up petition…

Has the Debtor individual gone quiet? Finding it difficult to locate the debtor? Are you fed up with dealing with them? Is the Debt disputed and you feel like you are not making a way forward with them? Then… Contact us by email or phone to assist with your invoice collection; We are legally train…

Rent Arrears if your tenant owes rent to you – start by contacting the tenant to see if there is any reason for their non-payment other than that they can’t pay; If the arrears are older than six months then consider issuing a county court claim against them for payment of the rent; There are [&…

The Government has introduced further extensions to protect Companies which echo extensions given to individuals. It is introduced by the forming of the Corporate Insolvency and Governance Act 2020 (Coronavirus) (Extension of the Relevant Period) Regulations 2021 which extend the following: –…