Podcasts about county court judgements

In the final episode of The Circus Upstairs, Matt and James sift through the aftermath of the Becchetti regime – via a date in court where Orient face a winding up order for the second time and a mysterious text message allegedly sent to a "Magnificent" seven fans from a potential buyer. We talk to Matt Porter and incoming Interim CEO Marshall Taylor about the mess the new owners inherited, including £7,000-a-month mobile phone bills; a pimped up BMW X5; and a raft of County Court Judgements. We hear some final perspectives on Becchetti himself, and Matt and James get a bit emotional… 

Malcolm & Wayne discuss whether or not people are still able to obtain a mortgage with a CCJ (County Court Judgement). UK Moneyman Mortgage Advice Cambridge Mortgage Broker Cambridge Mortgage Advisor Cambridge

British and American household debt had reached record levels, despite high employment, low taxes and historically low interest rates. In the UK, the TUC has called for higher pay rises to solve the problem, but we know that is not always the answer. If you cannot manage small amounts of money, chances are you will not manage larger sums. Unless you change your habits, that par rise or bonus will be blown on more stuff or another holiday before you even receive it. I cover more on managing money in my book on money, but in the meantime, here is THEM.A.N.A.G.E. D.E.B.T.SYSTEM – 10 TIPS TO GET OUT OF CONSUMER DEBT FOR GOOD:    M - MAKE A LIST and prioritise debts in order of importance and cost of servicing the debt. Obvious priorities are things like keeping a roof over your head and maintaining power supplies, rather than paying those who are shouting the loudest. Look at the cost of your loans or credit cards and clear the debts with the highest interest rate or repayment. Clearing the high cost debts first will give you breathing space to pay off other debts faster by saving money on interest. Make a plan to start paying off debts and stick to it. Start clearing expensive debts, like credit cards or worse still payday loans, first so that you can reduce the rising tide of compound interest drowning you by increasing your balance faster than you can clear it. List all debts and monthly repayments on a spreadsheet and plan your route to financial freedom. This one step of making a list of your debts will make a huge difference. A - AXE NON-ESSENTIAL OUTGOINGS. Go through all your standing orders and direct debits and ruthlessly cut out everything you don’t need, especially things like Sky TV or that membership of the gym you only visit once a month. Exercise at home and find a way to walk more often. N - NEVER PAY THE MINIMUMPAYMENT ON A CREDIT CARD. Most people don’t realise that if you just pay the minimum amount required on a credit card it will take years before the debt is paid off. Pay as much as you can and ask the bank to deduct that amount or make extra payments manually to clear the balance faster. A – APPLY FOR A BALANCE TRANSFER CARD. Whilst this is a short-term measure, transferring credit card balances from high interest charging companies to 0% cards will give you breathing space. Watch out for the balance transfer fees which can be a high as 3%. Sometimes it can be cheaper in the long run to pay a small interest rates with no balance transfer fees. G – GENERATE EXTRA CASH. One of the most obvious ways of reducing your debts is to increase your income. This can be achieved in a number of ways including starting part-time business, working extra hours, qualifying for a pay rise or getting a higher paid job. E – ENTITLEMENT TO BENEFITS OR WELFARE SUPPORT. Check if you are entitled to any benefits or tax credits. This especially applies to single parents and people in low paid work. One benefit or tax break could transform your finances overnight. To find out more check on the government website or see your local Citizens Advice if you live in the UK. D – DON’T IGNORE BILLS OR DEMANDS. Never ignore a bill, red letter demand and especially from a debt collector, bailiff or court letter. Burying your head in the sand will not make the problem go away and ignoring any of the above will make matters far worse and cost you a whole lot more in the long run with interest and penalties. Ignoring bills and letters will ultimately lead to County Court Judgements and debt defaults which will stay on your record and credit file for up to six years, effectively ruining your credit rating. E – ENTER INTO AN ARRANGEMENT. Speak to your creditors if you are having difficulties and consider an arrangement after taking independent advice. There are informal and formal arrangements, such as a debt management plan or IVA. Take independent legal and financial advice from a professional, not just from a salesperson selling a ‘debt clearance’ service. B -BE PROACTIVE AND ASK FOR HELP. This could involve talking to your local Citizens Advice office, an independent debt counsellor or even a relative. We all need a little help from time to time and being in debt can be lonely and depressing. T - TAKE YOURSELLF OFF CONSUMER DEBT FOR GOOD. Kick the habit. Never borrow to buy expensive consumer items which depreciate in value, and avoid rip-off deals like rent-to-own consumer products like the plague. The old adage of “if you can’t afford it do without it” should be drummed into this modern ‘I want it now’ age! We have become too accustomed to the ‘buy now pay later’ culture of ‘easy credit’, which should be called ‘easy debt’, and keeping up with the joneses, which I mention in my book ‘Yes, Money Can Buy You Happiness’.   M.A.N.A.G.E. D.E.B.T. MAKE A LIST AXE NON-ESSENTIAL OUTGOINGS NEVER PAY THE MINIMUM PAYMENT ON A CREDIT CARD APPLY FOR A BALANCE TRANSFER CARD GENERATE EXTRA CASH ENTITLEMENT TO BENEFITS OR WELFARE SUPPORT DON’T IGNORE BILLS OR DEMANDS ENTER INTO AN ARRANGEMENT BE PROACTIVE AND ASK FOR HELP TAKE YOURSELLF OFF CONSUMER DEBT FOR GOOD   Bonus Tips Never use expensive payday lenders, unless you have no other choice, and especially unauthorised doorstep lenders will charge you a small fortune interest. Start building your credit rating by making repayments on time and clearing credit cards faster. The higher your credit rating, the more access you will have to cheaper finance and the less you will be dependent on expensive credit.   Word of the Day IVA -Individual Voluntary Arrangement In England and Wales, an individual voluntary arrangement (IVA) is a formal alternative for individuals wishing to avoid bankruptcy. The IVA was established by and is governed the Insolvency Act 1986 and constitutes a formal repayment proposal presented to a debtor's creditors via an insolvency practitioner. Usually (but not necessarily), the IVA comprises only the claims of unsecured creditors, leaving the rights of secured creditors largely unchanged. Insolvency practitioners charge initial and ongoing fees that are in addition to the debt. An IVA is a contractual arrangement with creditors and can be as flexible as an individual's own circumstances; they can therefore be based on capital, income, third party payments or a combination of these. In this process, a debtor who has enough money left over after priority creditors and essential expenses, may be able to arrange an individual voluntary arrangement. Based on taking independent advice, debtors with less serious problems may wish to consider a debt management plan.   The procedure for businesses is the company voluntary arrangement. There is also Administration where the business is effectively run by an appointed administrator. In the US, companies can take advantage of Chapter 11 rules and many companies have come back from this, including some owned by Donald Trump There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.      

Whatever the reasons for getting into serious debt, if you want to live without worry and fear it is vitally important to get out of debt fast and stay debt free forever.   Here are my 10 Tips to get out of debt fast and stay out of debt for good    Prioritise debts in order of importance and cost of servicing the debt. Obvious priorities are things like keeping a roof over your head and maintaining power supplies, rather than paying those who are shouting the loudest. Look at the cost of your loans or credit cards and clear the debts with the highest interest rate or repayment. Clearing the high cost debts first will give you breathing space to pay off other debts faster by saving money on interest. Slash non-essential outgoings. Go through all your standing orders and direct debits and ruthlessly cut out everything you don’t need, especially things like Sky TV or that membership of the gym you only visit once a month. Exercise at home and find a way to walk more often. Make a plan to start paying off debts and stick to it. Most people don’t realise that if you just pay the minimum amount required on a credit card it will take several years before the debt is paid off. Start clearing expensive debts first so that you can reduce the rising tide of compound interest drowning you by by increasing your balance faster than you can clear it. List all debts and monthly repayments on a spreadsheet and plan your route to financial freedom. This one step of making a list of your debts will make a huge difference. Get a balance transfer card. Whilst this is a short-term measure, transferring credit card balances from high interest charging companies to 0% cards will give you breathing space. Watch out for the balance transfer fees which can be a high as 3%. Sometimes it can be cheaper in the long run to pay a small interest rates with no balance transfer fees. Earn extra cash. One of the most obvious ways of reducing your debts is to increase your income. This can be achieved in a number of ways including starting part-time business, working extra hours, qualifying for a pay rise or getting a higher paid job. Check if you are entitled to any benefits or tax credits. This especially applies to single parents and people in low paid work. It’s more benefit or tax break could transform your finances overnight. To find out more check on the government website or see citizens advice if you live in the UK. Never ignore a bill, demand and especially a debt collector or court letter. Burying your head in the sand will not make the problem go away and ignoring any of the above will make matters worse and cost you more in the long run with interest and penalties. Ignoring bills and letters will ultimately lead to County Court Judgements and debt defaults which will stay on your record and credit file for six years and effectively ruining your credit rating. Speak to your creditors if you are having difficulties. Ask for help. This could involve your Citizens Advice office, an independent debt counsellor or even a relative. We all need a little help from time to time and being in debt can be lonely and depressing. Stay out of consumer debt for good. Never borrow to buy expensive consumer items which depreciate in value and avoid rip-off deals like rent to own products like the plague. The old adage of “if you can’t afford it do without it” should be drummed into this modern ‘I want it now’ age! We have become too accustomed to the ‘buy now pay later’ culture of easy credit, which should be called easy debt, and keeping up with the joneses, which I mention in my forthcoming book ‘Yes, Money Can Buy You Happiness’. Bonus Tips Never use expensive payday lenders, unless you have no other choice, and especially unauthorised doorstep lenders will charge you a small fortune interest. Start building your credit rating by making repayments on time and clearing credit cards faster. The higher your credit rating, the more access you will have to cheaper finance and the less you will be dependent on expensive credit.   See omnystudio.com/policies/listener for privacy information.

Welcome to another episode of the How To Raise Money Podcast. Tune in today to hear Ray and Nigel discuss Receivership, Bankruptcy and County Court Judgements and how you can secure investment, even if you have a bad financial track-record or a history with financial difficulty. Your hosts respond to popular demand to answer questions from the How To Raise Money community and provide you with the proven reassurance that anyone can raise finance, start a business and secure investment, if you know how to do it. KEY TAKEAWAYS Just about everyone who you see on TV or present themselves as successful entrepreneurs have been through tough times surrounding finance and financial history.  Even Richard Branson has famously been involved with companies that have been through receivership and bankruptcy. Ensure you are always honest and make your investors, angels, dragons and whales aware of your background, how you got there and remind them of how you will make them money. If you’ve had receivership or bankruptcy against you in the past will it hurt your chances of securing investment? The short answer is No. Depending on the business or investment opportunity investor may invest in you, as the investor and crucial to the success of the deal. Or they may be investing solely in the proposed opportunity and the product or service the company is creating, and therefore your personal history is less relevant. Past mistakes can be dealt with and forgiven. Remember that everyone has at some point had struggles financial. You just need to make sure that your investment opportunity offers an attractive security agreement. Receivership: In law, receivership is a situation in which an institution or enterprise is held by a receiver—a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights"—especially in cases where a company cannot meet financial obligations or enters bankruptcy. Bankruptcy: The legal status of a person or other entity that cannot repay debts to creditors. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. BEST MOMENTS “Nobody likes to find out further down the line, don’t keep it a secret” “Investors deal with entrepreneurs seeking finance with track-records both good and bad” “There’s always three sides to every story, your side, their side and what actually happened” “Everything you read in the press is exaggerated and a bit of a story” “Company law is UK wide, it’s not a devolved matter” “Be transparent and do your due diligence weather your and investor, or the one seeking finance” VALUABLE RESOURCES https://www.angelsden.com/en-gb/events/ http://howtoraisemoney.co.uk/ CCJ (County Court Judgements) IVA (Individual Voluntary Arrangement) ABOUT THE HOST Ray McLennan is a keynote public speaker and former corporate solicitor who has many years of experience owning and operating a variety of businesses in the UK and Ireland. Ray is the Regional Manager for Scotland & Ireland for Angels Den, which has over 13,500 high net worth Angel investors that help to find funding for property and SME businesses. Ray also helped to create Property Angels Den (PAD) in Sept 2014, which matches High Net Worth Investors with property proposals of all sizes. PAD now meets regularly and has funded dozens of property projects all over the UK. Nigel trained as an accountant but has for the last 11 years run the family care business. With a 7 figure turn-over and over 100 employees, the role has given Nigel quite a few valuable lessons! Nigel and his wife, have focused more and more on property over the last few years. The latest project is a 20 bed HMO with 12 SA rooms. But in the last few years Nigel is now helping property professionals understand that social media is a way to increase your customers, get more deals and earn more profit! CONTACT METHOD Ray@raisingangel

According to the Registry Trust, 2017 saw a significant jump in the number of County Court Judgements registered. Is this a sign of toughening economic conditions or businesses being more aggressive when it comes to tackling overdue payments? Since its launch in January, Open Banking has been gathering support primarily amongst the smaller, so called Challenger Banks. The latest bank to embrace Open Banking is mobile-only Starling Bank. It has announced a tie-up with TrueLayer which will act as a link between Starling Bank customers and alternative finance providers. One of the more challenging aspects of starting a business is arranging finance. Where do you go? That’s a question posed by Hitachi Capital Business Finance when it spoke to start ups and younger businesses. We take a look at where business owners are getting their money from.