Sector Focus


Legal


Sponsored by: Thursfields Solicitors


Support for plans to make debt letters less threatening


Don’t forget your digital assets


Government plans to change the language and presentation of information in debt letters to help people better manage their debts, have been welcomed by specialist debt recovery lawyers from Clarke Willmott. The new rules are due to come


into force in this month and should mean debt letters will easier to understand, be less threatening and will assist debtors to source free debt advice. Letters will have a restriction on


By Ian Bond, head of the Wills & Estates team


Digital technologies now help us to run most of our lives. On top of our physical possessions, we are building a parallel world of digital assets. So much of our life has


found its way into the digital sphere. When preparing clients’ wills, an important question to consider is “what will happen to their digital assets on their death?” Often, family members may


not have regard for digital assets at all, let alone give proper consideration as to how they should be distributed. Aside from the legal


requirement to administer these assets, families will want to protect the deceased’s information which could otherwise be easily deleted or lost. Whilst some digital assets


have financial value; most will have sentimental value, such as messages, photos and videos stored on the likes of Facebook or other social media platforms. It is my role to help you


plan for how your digital assets are dealt with on your death. Everyone wants to be remembered for the person they are and not the mess they left behind.


For further information please contact me: Ian Bond, Head of the Wills & Estates team at Thursfields e-mail ibond@thursfields.co.uk or telephone 0121 796 4027.


the amount of information that must be made prominent, and will be required to use bold or underlined text, rather than capital letters.


Sophie Kemp, a solicitor and


team supervisor in the debt recovery team at Clarke Willmott, which has an office in Birmingham, said: “In the current climate with many people experiencing redundancies and pay cuts, these rules are the latest in a package of support put in place to help people struggling with their finances and to be sensitive to their circumstances. “The changes represent a


welcome change in encouraging customers to address any difficulties they may be


Sophie Kemp: people must be treated fairly over debt


experiencing with debt and to ask for help from the free debt advice sector when they need to. “Getting behind on credit


repayments can be a really stressful experience and intimidating letters from lenders can often leave people feeling confused and helpless. “By looking at the legislation


around these letters the Government


‘Getting behind on credit repayments can be a really stressful experience’


is helping to take the fear out of the situation and empowering people to take control.” Clarke Willmott said that it was a


long established procedure that litigation should always be a last resort in cases involving debt, and every effort should be made by the parties to engage with each other before a claim was issued. Three years ago a requirement


was introduced where creditors should signpost individuals to sources of free debt advice, a step the new proposals are seeking to introduce at a much earlier stage. Ms Kemp said: “At Clarke


Willmott we welcome the proposed changes as it aligns with our existing approach of treating customers fairly, making every effort to reach an amicable solution and of litigation being a last resort. “It will send a consistent


message throughout the entire process and will encourage customers to engage from the outset and for the parties to do all that is possible to achieve a positive outcome. The new rules will be delivered through secondary legislation and are expected to come into force at the end of the year.”


Legal team to help firms through crisis


A Midlands law firm has launched a new legal team to help steer the region’s business leaders through the current economic crisis. Mfg Solicitors, which has offices


in Birmingham, Worcestershire and Shropshire, has introduced a restructuring and insolvency team, which is being led by head of commercial property Clare Regan, the firm’s corporate head, Clare Lang, and insolvency partner Sam Pedley. The partner-led team, which is


supported by other specialists from around the firm, will advise on a range of issues including business survival strategy, safe-guarding jobs, business sales, restructuring, and a variety of commercial property related matters on behalf of landlords and tenants. Ms Regan said: “As we are now


in the second national lockdown and about to head into winter, I am in no doubt we will see some of the toughest trading conditions ever experienced by many businesses. “This is a period of great


uncertainty and the ability to 68 CHAMBERLINK December 2020/January 2021


New team: Clare Lang, Sam Pedley and Clare Regan


predict how a business’ finances will look, even a few months ahead, will be severely hampered. “Added to this, businesses will be


affected by what happens to their suppliers and their customers. The ability to react quickly, to restructure and ensure creditors do not feel the need to seek winding up, will be essential. That all requires the right advice at the right time.


“We’ve always worked closely


across our various disciplines and expertise, but the new restructuring and insolvency team will allow us to do this seamlessly as our clients react, adapt and navigate their way through these difficult times.” Ms Regan added that the team


had already experienced an increase in enquiries and instructions for their expertise.


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