Debt Collection

The Difference Between What You Think You’re Owed… And What You Can Prove You’re Owed

The concept of a ‘gentleman’s agreement’ is something of a myth in business. Technically speaking, a verbal understanding between two parties is enforceable under contract law, as long as certain criteria relating to contracts are met.

But there lies the rub. If nothing is ever written down, if everything is done on a nod and a handshake, how do you ever prove things like intention to enter a contract and due consideration by both parties?

IndieGoGo Calls in Debt Collectors over Spectrum Vega+ Debacle

For video game fans of a certain vintage, it was a beautiful dream. A plan to reboot the classic ZX Spectrum console of their childhoods, but this time as a handheld device.

The company behind the proposed ZX Spectrum Vega+, Retro Computers Ltd, launched a crowdfunding campaign through IndieGoGo to finance the project. Enthusiasts rushed to back the plans, based on the promise of receiving one of the consoles hot off the production line upon launch. More than half a million pounds was raised in no time.

Oracle and the Murky World of Sales Commissions

Here’s a debt recovery story with a twist - a sales rep sues his erstwhile employer for unpaid commission, wins, and then discovers that the business unit he worked for has been shut down mid-action, with all its assets transferred to a new legal entity.

The upshot being, a year on from being awarded his claim in court, he is yet to receive a penny.

County Court Judgments Against Businesses Soar in First Quarter of 2019

The number of County Court Judgments (CCJs) against businesses in England and Wales shot up by 12% in the first quarter of 2019, according to official figures from the Registry Trust.

A total of 35,779 CCJs were issued in the first three months of the year with a combined value of £107.2 million - a year-on-year increase of 6% from the same period in 2018. The figures show that judgments have gone up against both incorporated and non-incorporated businesses, part of a longer term trend which has seen the net value and frequency of CCJs increase.