This is not a legal handbook or comprehensive in any way. It is intended to guide you through the web of actions that a creditor can take against the company.
In these articles we will provide some practical tips on what to do when these actions occur.
The key in most situations is communication. Provided your creditors are kept fully involved and informed most will go along with deals to achieve a satisfactory outcome. In our experience taking legal action is the action of an frustrated creditor (or one with a proper credit control procedure that is rigorously applied).
County Court Summons
This is when A creditor has tried to recover their debt from your company but without success. You may have offered an informal deal but now their patience is wearing thin.
Your company may have tried to stave payment off claiming the debt is invalid or issued a counterclaim. They have issued an action to commence recovering their money in the County Court
What can I do, what should I do? - You have time to pay the claim of the creditor. Try to offer a payment deal sensibly before the action will be heard in the court. Try to do a deal or pay the debt. If you cannot pay it the company could be insolvent.
You can dispute the claim if it can be proven the debt is not correct. Look, carefully, at the forms for detailed instructions on how to defend the claim.
If you need any help with any legal action being taken against your company then call Rupen Shah from Opus Una Ventures, specialists in business recovery and turnarounds on 07868809350
