Areas of Law / Debt matter

I am a one-man business and, to help cashflow, I looked at the possibility of factoring. I sent a firm invoices totalling £4,500 I am owed, but they were concerned about some of my customers and wouldn’t take me on. Now they refuse to return my paperwork until I have paid a £500 “set-up fee”. Since they’ve turned me down I don’t think I should have to pay.

Whether they’re entitled to their fee will depend on the agreement you had with the firm. You should show this to a solicitor. Hopefully you will have kept copies of the documents you sent to the firm. If you haven’t, you could pay the £500 and obtain your papers and then argue about the fee. This is less attractive, but at least you would be able to pursue the money you’re owed.

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