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LATEST NEWS & EVENTS Debt recovery excuses identified  Excuses provided by firms and individuals trying to stall the efforts of those engaged in debt recovery have been identified. Writing on FreelanceUK, managing director of Creditsafe Sid Home said that one reason cited by companies for not being able to pay is that they are themselves awaiting money from their customers. Another possible excuse used involves debtors suggesting they will not pay because there is a dispute. Mr Home remarked: "Is there really a dispute? If there is, then the client may well have good reasons not to pay." Meanwhile, a further way in which payments are avoided is by those who owe the money claiming the "cheque's in the post". Mr Home said that in such cases a request should be made for the cheque number, what its precise value is and whether it has been sent first or second-class post. Last month, Crain's Manchester Business suggested that debt recovery specialists are having a tough time because more debtors are going bankrupt or are unable to sell their houses to pay off creditors. 
Related Articles: 25/8/2009 - Firms urged to sign up to late payment scheme 22/9/2009 - Debt recovery system "expensive and cumbersome" 28/9/2009 - Firms 'should ensure they are covered for professional negligence claims' 30/9/2009 - Debt recovery 'increasingly needed by SMEs' 27/10/2009 - Debt recovery from local councils 'a problem for UK SMEs' More Dispute Resolution News |
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