Welcome to Woolley & Co

Woolley & Co E-Zine

Keeping You Up To Date With Changes That Affect Your Business

Welcome to all our new readers and for those who have been reading our E-Zines for the last few months we’re glad you are still there! This month there are a few tips on how you can recover bad debts, cost effectively, and a reminder for businesses trading on-line of how they need to comply with new DTI regulations.

We welcome your feedback – if there is any particular legal issue you’d like to see covered send the details through to marketing@e-lawfirm.co.uk.

Andrew Woolley

Andrew Woolley, Principal, Woolley & Co

Getting Cash Flowing

At some time or another every business has difficulty getting paid. We’ve found that many business owners didn’t pursue debts through their lawyer because they think the fees will be too high - or even that they can’t find out how much it will actually cost. Here’s some advice on how you can make sure you control the costs of debt recovery and at the end of this E-Zine we offer to recover your debts for free!

At Woolley & Co we advise all clients to consider the following questions before instructing a lawyer to recover debts:

Are you sure you have an up to date address for the debtor?
Is the debtor still trading?
Are you sure they are still solvent – you could end up wasting a lot of money chasing debtors who have gone into liquidation or been declared bankrupt – so it’s worth checking.
Is the debtor unemployed or claiming benefit?
Do you have a home address for your debtor? Do they own or rent the property?

We find that by asking themselves these questions clients get a better understanding of how well they know their debtor and when they come to pass on this information to us we will be in a better position to advise on the likelihood of recovering the debt.

Woolley & Co has a fast, cost-effective approach to debt recovery. A checklist is available at www.e-lawfirm.co.uk which explains how this works and the roles for you, your lawyer, the Courts and the debtor.

Hopefully your business has got off to a good start in 2003 – but if you are having cash flow problems take a look at our special offer, to help you recover bad debts, at the end of this E-Zine.

Stop Press

Did you know? You are entitled to interest at 8% above base rate and compensation of up to Ł100 if a business fails to pay you on time.

Selling On-line or Electronically?

Take a look at our checklist to make sure you comply with new DTI regulations introduced last August.

Does your website:

Provide full contact details, including e-mail address, your company's VAT number and details of any trade association or body you belong to?
State clearly prices and all associated taxes and delivery charges?
Acknowledge electronically placed orders, as quickly as possible?
Allow customers to check their order details and correct any errors before the order is actually placed?
Present Terms & Conditions that apply in a format customers can store and print on their system?
Show how customers can access information about any relevant Codes of Conduct?
Indicate whether you are filing the contract and if it can be accessed?
State clearly how end-users can correct any inputting errors they make?
Have transparent conditions for any discounts or promotions offered?

And if you are using electronic media for promotions you must make sure they are clearly flagged up as commercial communications and if you send unsolicited e-mails you must make it clear that they are unsolicited.

Every business advertising or selling on the Internet, by e-mail, on interactive TV or on mobile phones must comply as failure could mean orders being cancelled and your company charged damages for breach of duty. In addition from 23 October 2003 you could be served with orders forcing you to change your e-commerce procedures. Any company ignoring these rules could have its website shutdown, face fines or even imprisonment. For advice on whether your website or e-commerce activities are compliant with the regulations contact Andrew Woolley on 01789 267377 or email aw@e-lawfirm.co.uk.

Reader Offer

Woolley & Co will pursue your debts, by letter for free! For the first 5 readers to email jk@e-lawfirm.co.uk we will pursue a debt, by letter, free of charge. We have an 83% success rate, using these letters, so in most cases we’ll be able to recover your debt without it costing you a penny. Get typing – John King is waiting for your email.

To find out more about these and other legal issues visit the Woolley & Co website at www.e-lawfirm.co.uk.

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