How Long Can a Bad Debt Be Collected?

There are different views on how long an unsecured bad debt is collected. For the debtors they will relly on the statute of limitations where after seven years the creditors will not be able to pursue the debts anymore. On the creditor's side, they will still have options especially if the debts are already with collection agencies and court rulings are accepted. An unsecured bad debt may already be written off on the claimant's books but these accounts can also be turned over to collection agencies and they will do the collection efforts themselves. They will be those who will send collection notices and demand letters in order to pursue these collection efforts.

Actually an unsecured bad debt can still be collected especially if a court judgment has been made. The account can also be counted as active if payments have been made. After the last payment the debt can still be pursued and collected within a seven year period, counting from the last day of payment. Within this period the creditor will make efforts to seek for a court judgment because after seven years the statute of limitations will already set in. This is the prescription period usually set by the law and after this time they will not be able to pursue the debt. However, debtors have to check on the laws in their places because the limitation period may be different, and they have to go with this statute of limitations or prescription period.

If you have a bad debt and you are concerned about how long your creditors can keep on pursuing these debts you have to take into account this prescription period of seven years, or with how many years it will be in your place. It can be of help also if you will not sign demand letters or collection notices so that it can not be used against you. Initials can be made only if these letters are actually handed to you. However, you have to think also that creditors or their agents will do all efforts to collect from you. When these bad debts are already established as yours they can go to the courts and it can be possible that they can get a court judgment.

For your bad debts it may be more to your advantage and peace of mind if you will seek a debt settlement agreement for this. You can get a credit counselor or you can do the negotiations yourself. A credit counselor may have the better option and they can have the possibilities of obtaining negotiable agreements that will be to your advantage. Your debt capital may be lowered and may even have the potential of having the debt balance paid in monthly amortizations that can be extended to a longer term. The percentage rate of your debt may be reduced or the surcharges written off, with the negotiations made. If you have an unsecured bad debt like unpaid credit card debts, it may be better to pay this through a negotiated settlement agreement and not forgetting it completely.

Crucial Factors That Decide The Fortune Of A Mobile App

While businesses had long ago embraced website development to go online, with the advance of smartphones, they leapt further to become mobile-friendly. Having only a website is no longer sufficient enough to catch the attention of customers, but there's need for some mobile-friendly approach too so that customers could access their services on the go. It becomes a paramount necessity for businesses to develop their own customised business app, with which they could target specifically and increase their outreach on the market.

However, despite mobile apps becoming inseparable and pivotal part of businesses as a marketing strategy, a mere percent of apps actually get through the success among the several million listed in the app stores. This is owing to some critical factors that can either make or break a business application. Here's quick recount of some of them.

Faster loading

The first thing app owners need to assure is whether their apps are loading quickly or not. Their loading time, in no way, should exceed more than 15 seconds. An app that works at a snail's speed and take 16-20 seconds to load, is destined to fail because users will be uninstalling it and download an alike app that loads with high-speed.

User-friendly apps are clear winner

An ideal app is that which is exceptionally easy-to-use. For attaining far-reaching attention in the market, it should be intuitive and users could use it without needing anyone's help. Further, with a plentiful of apps available in the same business line, no one is actually interested to spend time in taking instructions on how to use one. They will simply abandon it to find some other app that is simple to use and understand. The best way to keep it simple is incorporating as fewer features as possible, by prioritising only the crucial ones.

Lesser technical faults

Besides being faster, apps that are hard to crash have more chances to become successful and can sustain a longer life cycle. An app needs to pass through several tests to deem perfect for use. Bugs and other technical issues will never allow an app to get closer to their goals of user acquisition. Thus, app makers should ask for assistance from a reliable development team that will not compromise quality or testing for the budget.

Frequent updates are imperative

To affirm success in the long-run, an app maker must commit to release updates of the app consistently to bring new features, advanced functionality or fix the bugs that users earlier experienced while using. No updates after the first release is a major turn-down factor because that shows the absence of credibility from the maker and can cause download rates to decline. It is thus inevitable to release updates at frequent intervals as that keeps users interested.

Easy registration interests the users

One major reason people prefer using apps over a website is its convenience on the go. The makers of the app should try to make their every experience convenient, from signing up to checking out, to make sure of its success. Henceforth, keeping the registration process short and simple with few pieces of information looks fine and more compelling to the users.

These are a handful of influential factors for considerations to make an app successful enough. However, there's always have to be some expert team for real implications of these and to help an app to bear fruits.

Why You Should Enlist the Help of a Debt Recovery Service Today

As anyone who runs a business will know, collecting the money owed is easily one of the most challenging aspects of administration. One of the things you realise after going into business is that clients will always get away with what they can. The majority, of course, will pay up faithfully and on time every time, but there is always a percentage who will--for whatever reason--drag the chain when it comes to payment. Often, it seems, the exact same clients who were exceedingly demanding of your prompt responses during prior transactions. One way in which to take the stress, lost productivity and frustration out of chasing up invoices is to engage the help of a debt collection agency.

What Does a Debt Collection Agency Do?

In terms of managing outstanding accounts, a debt collection agency can provide holistic, big-picture solutions that take the worry, stress and administrative work out of chasing up funds owed to you. From early-intervention call services all the way through to (last resort) legal proceedings, a debt collection agency is your answer to staying on top of who owes what! Depending on the services you need most, you can set up a system whereby overdue invoices are immediately referred to your agency after a certain number of days. You can then agree upon a course of action--for example, how many days you are willing to wait before certain proceedings are undertaken, and you can expect detailed reporting on the status of your unpaid invoices at every step of the way.

Why Outsource?

Depending on the size of your company, chasing up overdue invoices can at the least be a gross misuse of valuable time and productivity, and at worst an entirely impossible undertaking. Debt collection agencies take all the guess-work out of the process, and instead of having to continually spend time and money with back and forth exchanges, it's simply a matter of entrusting the right company to get you the payment you're owed--often far more effectively than you ever thought possible. A debt collection agency holds the added weight and threat of a bad credit rating--something nobody wants--so you'll find that it is often a lot easier for an agent to get results faster. In addition to this, a debt collection service can cater payment plans for clients experiencing financial trouble, and the added 'middle man' can take some of the heat out of situations.

If you're experiencing difficulty with getting clients to pay up, or even if you just want to reevaluate the amount of staff time and resources you expend on following up financial issues, consider enlisting the help of a debt recovery service. The peace of mind and efficiency you'll experience will be almost as beneficial as the cash you'll start to see more of!

Telecoms for Business

Any business relies on technology to operate. With fast and reliable internet connections, strong mobile signals and advanced telecoms systems, it is possible to effectively communicate with customers and collectors, suppliers and partners in a variety of ways. Any business that does not have access to the latest technology is put at a disadvantage.

The accelerated rate at which digital technology has grown in recent years and our reliance on it has put great pressure on the capacity of copper based networks. The wide scale deployment of fiber (often referred to as Fiber to the Premises or FTTP) networks is being seen as the only way to address this and equip homes and businesses with what they need.

A recently released 'Building Gigabit Britain Report' compiled by leading UK businesses highlights the importance of a wide spread fiber network to the long term prospects of British business and the wider economy. As the population embracements advances in digital communications, wireless devices, remote working and competition in global markets, the need for fiber is obvious.

The Report highlights a number of ways in which the Government could, and in opinion of the authors should, support the roll out of a new fiber infrastructure. These include investing in a clear strategy that commits to 80% of the population having access to fast fiber broadband by 2026, with near universal coverage by 2030.

In regards to the regulations which currently govern the industry, it is noted that whilst some regulations help to protect customers, others are more of a hindrance to progress. It suggests that some of the financial barriers are removed and that current regulations are reworked in order to encourage both competition and collaboration from telecoms companies. This is seen as vital for innovation in communications and private investment in rolling out the fiber networks.

The report also raises the importance of advertising guidelines being enforced, so that clear and transparent information is available to the public. The success of many local economies could depend on the timely roll out of fiber and how the process is communicated and managed by local councils and telecoms companies.

Fast and Reliable Broadband

So, if fast and reliable broadband and embracing digital technology is so essential to the future of the British economy, how does it affect your business? Did broadband speed influence your decision on where locate your business? Are you reliant on the roll out of fiber in order to realize the goals in your business plan?

Has fast reliable broadband enabled you to make the most of the latest business telecoms systems? If so, your employees could be as easy to contact (by you and your customers) whether they are at their desk, out at a business event, or working remotely. You could be saving time and money by conference calling partners and clients, rather than meeting in person. You can avoid missing that important call with voice mail and printed transcripts of the message.

Many companies have not upgraded their business telecoms in recent years, it simply has not seemed like the top priority, but much like your IT, there can be significant benefits from streamlining procedures, increasing productivity and integrating one system with another.

Business Telecoms Systems

Your company may have to wait several years before fast and reliable fiber systems are in place, but you can give your operations an advantage by investing in the latest business telecoms systems. If your team are finding it increasingly difficult to manage the increasing volume of calls, or seasonal peaks, then this could be a sign that an upgrade is due.

Other indicators include issues with resolving problems with the system and the prohibitive challenges associated with adding new lines or integrating the phones with other technology. Whilst many Company Directors have concerns about the cost of an upgrade, the reality is that the latest business telecoms are often far more cost effective that older systems and can lead to considerable savings in the long term.

Five Common Mistakes on Tax Returns

It is now quite possible to complete simple tax returns online and many people still use paper returns. However, it is easy to make mistakes or omissions that could result in an HMRC tax investigation or cost you money by paying too much tax unnecessarily. Listed below are some of the most common errors we come across in the course of the hundreds of clients we see each year together with some advice on how to avoid problems.

1. General - Incorrect Dates

It is so easy to report dates that do not fit within the tax year you are reporting on. If you do that then the tax return will be returned. Remember that if you are self employed you have to find an accounting year ending in the tax year in question to report on. If you are reporting savings interest or share dividends, they need to have a tax date before 5th April in the relevant year. Simple mistakes here can use problems.

2. Employment - Reimbursed Expenses Not Claimed

When you receive reimbursements for work expenses, these will be reported on the form P11D which will be issued to you when the tax year is over. This is then recorded as a benefit in kind on the Employment pages of your tax return. All too often, that is where taxpayers stop; and they are then charged tax on the reimbursed expenses! You have to remember to also record the expenses as an expense as well as a benefit. Then the two cancel each other out in the calculation and you do not have any additional tax to pay.

3. Self Employment - A Large Claim for 'Other' Expenses

Probably the most common error we see when prospective clients bring in a tax return they filed themselves that is being investigated is a large proportion of self employed expenses recorded simple as other. So we see income as, say £ 40,000 and total expenses of £ 8,000 of which £ 6,000 is recorded as 'Other'. It immediately begs the question as to what these expenses are that can not be put into the specific categories on the tax return and make provoke an investigation into whether they are legitimate.

4. Residence - Making Sure You Make a Domicile Claim

If you are resident in the UK but not domiciled here you may be entitled to claim the remittance basis for overseas earnings. In other words, this non-UK income is only taxed in the UK if it is transferred into the UK. But you must make the claim to be non-domiciled in the tax return for the remittance basis to apply. It can be an expensive omission if you fail to do this.

5. Capital Gains - Failing to Claim Losses

Capital losses must be claimed on your tax return within a specified number of years if they are to offset in the future against capital gains. Once you have made the claim you can offset the losses against a gain at any time in the future. But if you fail to make the claim for losses, you do ever lose the benefit so do it straight away in the year the losses occur.

A little care can save unnecessary trouble and expense so complete your tax return carefully. If in doubt about what to do, you should consult a professional advisor.

What You Have Been Looking For

Have you ever taken the time to find out who owns a telephone number? In other words, have you ever tried to find out information on a person by searching their ten digit number? If you have not you do not know what you've been missing! A reverse phone lookup is an easy online search tool that can help you find what you've been looking for - answers to your questions about unknown numbers and callers.

Until now you may have never given much thought to missed calls, wrong number callers, or any other communications you've received that are of a mysterious nature. This is not uncommon among those who do not know that the fabulous reverse number lookup resource exists. However, now that you are aware of its existence, is not it great that you can actually find out who a caller is, or discover their address, simply by entering 10 digits into a search box?

All I have to do is lookup a 10-digit-number? That's right. It's only a matter of choosing a reverse phone search on the Internet, entering the numerical code and clicking the designated searching button. This is one of the main reasons that makes this lookup so great. You do not have to worry about any fuss. There is no name spelling or dates to remember, just a straightforward number.

Is it really beneficial to use a telephone lookup? Absolutely! There are many circumstances when knowing who owns a phone number is important. A prime example is when you are encountering calls of a harassment nature. There is no need for you to have to put up with this insult and invasion of privacy when you can help level the playing field by finding out the person's identity.

However, what if the number I want to lookup belong to a cell phone? It does not matter, you can still find out who owns a phone number , the only difference is you'll be required to fork over a small fee to gain entrance to this database. This is because there is no free directory for cellphones as there is for traditional wire lines. Neverheless, you still have an opportunity to find what you are looking for.

12 Ways to Keep Your Data & Identity Safe Online

How to Boost Your Digital Security for Peace of Mind

From the recent Facebook data break to compromised customer data at huge companies like FedEx and Delta, personal security is more relevant than ever.

In fact, it might even seem that our data is under attack!

While you can not always prevent data security issues, here are 12 ways to help you protect yourself in this fast-moving digital age:

1. Stop sending sensitive information digitally.

This may seem like a no-brainer, but many people email tax documents to their accountant, or text a password to a family member in a pinch.

2. Beware of public Wi-Fi.

Anything you send in a coffee shop or airport can be intercepted by someone on the same network. Consider using a VPN (Virtual Private Network) when you're out and about.

3. Secure your texts.

Whether you use a free app like WhatsApp or a paid Android or iOS solution, there are lots of end-to-end encryption options, ensuring only you and the recipient see messages.

4. Stay up to date.

If you do not, you could be at risk for malware, viruses and cybercrime attacks. Make sure your operating system and software are updated - many devices do this automatically.

5. Worry less about wireless.

Secure your wireless network with a password so nobody can jump onto your Wi-Fi network and steal info.

6. Be cautious of clever email scammers.

Today's phishing emails can have links that lead to realistic-looking websites. Never give out passwords or other sensitive info by email, text or phone unless you're sure that you're talking to the actual organization.

7. Lock down your laptop.

Make sure your laptop requires a password when it boots up. That way, if it gets stolen or prying eyes try to access your device, they'll be stopped before they start.

8. Wipe out data .

If it's time for a new laptop or smartphone, make sure your data is not hanging around. Once you've backed up any data you need, use a software program to permanently erase your hard drive.

9. Choose security questions wisely.

Avoid using common words in your passwords. Period. Google estimated someone would have a 19.7% success rate answering "pizza" to "What's your favorite food? Customize questions or pick harder ones to guess.

10. Avoid sites that are not https.

Https stands for "hypertext transfer protocol with secure socket layer" (other known as having a SSL certificate.) Sites without an "s" on the end are not secure if you are being asked to make a purchase or submit private / sensitive data that could get intercepted.

11. Pay attention to privacy settings.

Choose who can see the content you post on sites like Facebook and Instagram, and who can view your profile.

Opt for the highest level of privacy possible but be aware that some settings will prevent potential clients from seeing your posts, so find a happy balance that will not sacrifice your social media marketing efforts!

12. Back up your data.

If your device gets stolen or compromised, what happens to that work report or your niece's baby photos? Schedule automatic backups through your operating system or a cloud service.

While even the largest and brightest companies can be hacked or otherwise attacked, these online security tips can help you reduce some of the risks.

Also, if you're hiring a web professional developer to help with your business, make sure they're well-aware of current security issues. We build websites with our clients' safety in mind and perform regular security updates for ongoing peace of mind.