Complete Clarity Solicitors

logo

Scottish Parliament passes debt reform Bill

Changes to the rights of Scottish creditors and debtors are on the way, following the recent passing of the Bankruptcy and Debt Advice (Scotland) Bill by the Scottish Parliament. According to the Scottish Government, the Bill is designed to balance the rights of those in debt with the needs of creditors and businesses. Its provisions […]

Recovering debts across European borders

Businesses and individuals who are trying to recover debts from another EU country should find the process easier if new draft European legislation comes into effect. MEPs and the European Council recently agreed a draft law that will allow people chasing debts to issue an order via a bank to block a debtor’s bank account […]

Call for culture of prompt payment

All companies should have a culture of prompt payment, says the CBI in its recent submission to the UK Government’s consultation on building a responsible payment culture. The national late payment debt stands at over £30 billion, with the average business owed £31,000, says the CBI. With the economic recovery gaining traction and order books […]

Fall in Scottish insolvencies

There was a drop in the number of personal and corporate insolvencies in Scotland over the third quarter of 2013-14, according to new figures from Scotland’s Accountant in Bankruptcy (AiB). The news follows the recent AiB announcement that there has also been a slight fall in the use of diligence across the country. Insolvency figures […]

Overall drop in use of diligence

It looks like there has been a small drop in the use of diligence in Scotland over the past year, if the latest Scottish Diligence Statistics, recently published by Scotland’s Accountant in Bankruptcy, are anything to go by. Diligence is the term for various processes of civil enforcement in Scottish law. A person or organisation […]

Quango bankruptcy role questioned

A number of concerns have been raised over the Bankruptcy and Debt Advice (Scotland) Bill, which is currently before the Scottish Parliament. The Bill proposes to substantially increase the powers of the Accountant in Bankruptcy (AiB) by transferring to it a large number of functions presently carried out by the Scottish courts. It also proposes […]

Changes to the World of Debt Recovery

Debt recovery update for businesses: New law targets late payers. The rules on late payments are due to be tightened a little from 29th March, when an EU Directive is brought into force in Scotland. The Late Payments Directive is designed to help businesses, especially small and medium sized enterprises (SMEs), recover their debts. Late […]