Home
Finance Resources
Investment Planning
Banking
Finance
Stock Market
Futures & Options
Trading
Mutual Funds
Insurance
Taxation
Enquire


Home » Finance Articles » General Articles » Sharp rise in debt claims made in court Articles

Sharp rise in debt claims made in court

Resellers are being advised to come up with an effective debt-collection strategy as figures point to a spike in the value of debts being chased through the courts.

Legal firm Lovetts reports that the total value of debt it pursued through the courts on behalf of clients more than doubled in the second quarter on an annual comparison.

Charles Wilson, managing director at Lovetts, stressed that court claims were a "last resort" and that the rise clearly showed that cash-strapped firms are taking an increasingly tough stance on late payers.

"With business failures still on the rise, the willingness to chase late payments could be the cornerstone of their survival," he said.

However, channel finance experts urged resellers to consider all options before going through the courts.

Nitin Joshi, founder of ChannelMoney, said: "Those who are pursuing debts have an armoury of weapons in debt collection, which ultimately ends with a winding-
up petition through the courts if the customer refuses to pay.

"However, this has to be balanced with the question of whether channel players want to continue trading with these customers in the long term, or whether they will do anything to get their money."

Henry Ejdelbaum, managing director of ASC Finance for Business, also stressed the dangers of resorting to legal action too quickly.

"Small businesses should use the personal touch and contact business associates directly," he said.



More General Articles
put comment
Domain Registration | Windows Hosting | Linux Hosting | Java Hosting | Virtual Dedicated Server | Dedicated Server | Reseller Web Hosting | Unlimited Windows reseller hosting | Unlimited Linux reseller hosting | Cheap Windows reseller hosting | Cheap Linux reseller hosting | Cheap Windows hosting | Best Windows hosting | Windows hosting Multiple Domains | Unlimited Windows hosting | Compare hosting plans | Cheap Linux hosting | Best Linux hosting | Linux hosting Multiple Domains | Unlimited Linux hosting | Cheap asp.net hosting | Best asp.net hosting | unlimited asp.net hosting | Cheap asp.net reseller hosting | Unlimited asp.net reseller hosting | Java Features | Cheap Java hosting | Best Java hosting | unlimited Java Hosting | Unlimited Linux reseller hosting | Java Hosting Multiple Domains| | Matargashti Full Song | Matargashti mp3 Download | Matargashti Video Download | Matargashti Song Tamasha | Prem Ratan Dhan Payo Songs Download | Prem Ratan Dhan Payo Songs mp3 Download | Prem Ratan Dhan Payo Songs Video Download | Pinga Song Download | Pinga Full Song mp3 Download | Pinga Song mp3 Download | Pinga Song Video Download | Latest Bollywood Updates | Bollywood Updates | Prem Ratan Dhan Paayo Songs Download|
© ProfitGuruOnline-2024. All Rights Reserved.