Debt & insolvency

Every small business will have to deal with a problem payer at some stage. Not getting paid when we are expecting money to come into your business can put your business under financial strain. Sometimes this can cause you to think about closing down or restructuring your business. If you know your rights and the steps you can take to identify and limit your risks when trading, you will have a clear advantage. The starting point is always doing your research, having a properly drafted contract and getting professional advice promptly. Whether it’s questions on contract drafting, sending debt collection letters, going to court or what interest you can charge, in this section you‘ll find the practical guidance and documents to help you to understand the key legal issues and options that are available to you.

The content on this website has been prepared by Markel Law LLP and it’s specified partners. It’s intended as guidance only and not to be regarded as a substitute for consultation with one of our solicitors or experts, since every case will ultimately turn on its own particular facts and circumstances. We recommend that you use our materials as your starting point and be aware that you sometimes have to follow a set procedure before taking any action, especially in an employment context. If you are in any doubt, we’d suggest that you get in touch with us and we’ll talk you through your options on how to get the right legal advice.