K
Keredg
Guest
My small business has run into some cash flow problems. Whilst I have tried very hard to keep my suppliers informed of the situation and made as many reparations as I possibly can, I have also come to payment agreements with many of them.
What is the situation when one of them starts to call my family, my business premises landlord and some of my colleague's/ business's whom I sub-contract work out to?
Whilst my family and landlord (Who is obviously not happy)have more or less put the phone down on this particular party it is not before they have heard the full extent of the debt, how long it has been outstanding and then being asked for some of my more personal details for example my home address etc.
Is this legal?
I do realise I owe money and this supplier has every right to be paid, its not a huge amount (£400) but I agree that it is irresponsible for me to be in this situation and I am not particularly proud to find myself in this position. I do not intend to 'not' pay them, I am just not in the position to pay the full amount at the moment.
Circumstances have dictated that I have not been paid by my own clients there-for my own cash flow has been effected quite badly. I did, explain this to the embittered party and we made an agreement to pay off the outstanding amount in smaller chunks, which they readily agreed to I hasten to add.
Obviously this is not enough and now I have my financial business being discussed openly with all and sundry.
What do you think is my legal position or should I just live with the fact I am having what was a good reputation destroyed?
What is the situation when one of them starts to call my family, my business premises landlord and some of my colleague's/ business's whom I sub-contract work out to?
Whilst my family and landlord (Who is obviously not happy)have more or less put the phone down on this particular party it is not before they have heard the full extent of the debt, how long it has been outstanding and then being asked for some of my more personal details for example my home address etc.
Is this legal?
I do realise I owe money and this supplier has every right to be paid, its not a huge amount (£400) but I agree that it is irresponsible for me to be in this situation and I am not particularly proud to find myself in this position. I do not intend to 'not' pay them, I am just not in the position to pay the full amount at the moment.
Circumstances have dictated that I have not been paid by my own clients there-for my own cash flow has been effected quite badly. I did, explain this to the embittered party and we made an agreement to pay off the outstanding amount in smaller chunks, which they readily agreed to I hasten to add.
Obviously this is not enough and now I have my financial business being discussed openly with all and sundry.
What do you think is my legal position or should I just live with the fact I am having what was a good reputation destroyed?