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The Enforcement Conduct Authority — New Proposals for a Debt Enforcement Oversight Body

Many sectors of the financial world have their own independent oversight bodies. The best known is probably the FCA (Financial Conduct Authority) but similar organisations operate in various areas of finance. One notable exception, though, has been the debt enforcement sector — but that may be changing. A prominent think-tank has brought together various sides of the sector and proposed a framework for a new oversigh
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One in Five Renters Finding It Difficult to Meet Their Housing Costs

A Government report released in April shows a stark picture of how households are coping with their housing costs and savings in the pandemic. The problems apply to both the home-owning and rental sectors, but renters seem to have been hardest hit. The Second Wave Household Resilience Study After more than a year of the pandemic, the Government has published a study of how households are holding up in the wake of the
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Landlords — Avoid a £30,000 Fine by Keeping Up Electrical Safety Tests

If you’re a responsible landlord, you may well already carry out EICR (electrical installation condition report) checks regularly on all your properties. From 1st April, however, this will be a legal requirement, with fines up to £30,000 for failure to comply. What Is the EICR? An EICR is the document that an electrician issues after carrying out an inspection on the electrical equipment in a property. Dependin
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Ban on Evictions Extended Again — but how Complete Is it?

On the 10th March, the Government announced that the current moratorium on evictions will be extended until 31st May, for both domestic and commercial tenancies. This is clearly good news both for people who rent their home and for struggling businesses, but not necessarily for equally struggling landlords. So, does this mean that no evictions can take place, regardless of the circumstances? The Extension of the Mora
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Are You a Company Director? Do You Know Your Responsibilities

You don’t have to be a major organisation to form a limited company. Statistically, most companies have only a handful of employees, or are even solo enterprises. However, if you’re running a limited company, you’ll have the status of company director, and as such you’ll have various responsibilities. Unfortunately, not all company directors are aware of what these are. How much do you know? W
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Is This the Time for a Full Review of Debt Options?

The options open for people who fall into debt have needed reform for some time, but the Covid-19 pandemic has made the issue urgent. The Money Advice Trust has now published a new briefing, urging the government to commission a full review of the options for debt management. The Debt Crisis The need for review of debt options was already being urged before this year. In 2018, the Money Advice Service (now part of th
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Enforcement Visits — When Will They Be Back to Normal?

Since the Covid-19 lockdown began, it’s been difficult not only to initiate claims for debt recovery, but even to enforce orders already granted by the courts. This is because many enforcement visits have been suspended, making repayment entirely dependent on the debtor choosing to obey the order. However, the lockdown is being gradually eased. We can eat at a restaurant, enjoy a pint at a pub and even have a h
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Negotiated Settlements — Is This the Way out of Debt?

One of the worst things about being in debt is that it can seem there’s no way out. You might certainly think negotiating with your creditors is a non-starter. After all, they hold all the cards, don’t they? It’s not as bleak as you might think, though. In some cases, a negotiated settlement could be your way out of debt. How Does a Negotiated Settlement Work? What you have going for you in negotiations is that your
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When Is a Penalty not a Penalty? — Are You Offside when Claiming Interest?

When you’re signing a commercial contract with a partner, you may find it includes a penalty clause. Or possibly you’ve included one in a contract you’ve drawn up. This is, in essence, a clause which states that a specific sum is payable in the event of a specific failure, such as late delivery of materials or services, or late payment of an invoice. Liquidated and Unliquidated Damages Penalty clauses have a contenti
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Terms & Conditions — You Have Them But Do You Apply Them?

Let’s face it, none of us read the terms and conditions for the goods and services we buy. In fact, the Telegraph suggests that it would take most of us fifty years to read them all. So, does that mean you don’t have to read the Ts & Cs in the contracts you issue, either? Absolutely not. And, more to the point, it’s essential to apply them. What Are Your Terms & Conditions For? Your Ts & Cs don’t have to
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