Quizzes & Puzzles4 mins ago
where do we stand???
6 Answers
My firm has done some work for another firm, they have not paid. Numerous other work colleagues have worked for him (sub contract basis) same story I know he owes trade counters and other merchants thousands of pounds. He says he is going bankrupt but never does, he has recently set up another company trading in a different name. Where do we stand is he still liable for these debts??I think the 1st people to take him to court and he will go bump. But in the meantime can we add intrest on to these invoices??or just smash his face in??any ideas guys and gals???
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For more on marking an answer as the "Best Answer", please visit our FAQ.He's still liable for the debts (or his company is) even if the firm under which he incurred them ceases trading. Getting payment is another matter though.
Maybe you could send some guys round with baseball bats (only kidding...,,)
Not sure about interest (unless you included the possibility of it in your contract). There was a government proposal (and I don't know if it ever got further than that) to make payment of interest on late payments (particularly by large firms to small) mandatory
I'd stop working for him - or at least demand payment up front. You may never see the original money, but you won't lose any more.
Maybe you could send some guys round with baseball bats (only kidding...,,)
Not sure about interest (unless you included the possibility of it in your contract). There was a government proposal (and I don't know if it ever got further than that) to make payment of interest on late payments (particularly by large firms to small) mandatory
I'd stop working for him - or at least demand payment up front. You may never see the original money, but you won't lose any more.
http://payontime.co.uk/legislation/legislation _main.html
All about late payment interest charges. You will have to go to court to get him. Dont go for small claims, go for wind up order, more expensive but is dealt with a lot qicker. Don't forget the seven day notice. A solicitor can do that for not very much money these days but take the man to court yourself, that's where the solicitors make their money. Word of warning, only go to court if you know you will get the money otherwise it will be a fruitless exercise. This ratbag obviously knows how to play the "game"!
All about late payment interest charges. You will have to go to court to get him. Dont go for small claims, go for wind up order, more expensive but is dealt with a lot qicker. Don't forget the seven day notice. A solicitor can do that for not very much money these days but take the man to court yourself, that's where the solicitors make their money. Word of warning, only go to court if you know you will get the money otherwise it will be a fruitless exercise. This ratbag obviously knows how to play the "game"!
The means by which you recover your invoiced costs from this man will depend upon whether he is a sole trader/partner or a Limited Company.
The most potent means by which you can focus his attention on his debt to you is to issue a Statutory demand against him personally.
Failure to pay against a Statutory demand (available online from oyezforms for a small fee) is prima facie evidence of bankruptcy.
If the defendant fails to pay within 18 or 21 days dependent upon circumstances, you have the right to call him in bankruptcy.
Even if he is a director of a Limited Company, he will be forced to respond or else face Court.
In my experience, those served with a Stat demand will pay up double quick.
The most potent means by which you can focus his attention on his debt to you is to issue a Statutory demand against him personally.
Failure to pay against a Statutory demand (available online from oyezforms for a small fee) is prima facie evidence of bankruptcy.
If the defendant fails to pay within 18 or 21 days dependent upon circumstances, you have the right to call him in bankruptcy.
Even if he is a director of a Limited Company, he will be forced to respond or else face Court.
In my experience, those served with a Stat demand will pay up double quick.