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'Apprentice' Tom's business 'in debt, making loss' |
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#26 |
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Join Date: Mar 2009
Posts: 275
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Quote:
Solicitors offices in the high street will insist ordinary folks pay cash like £290 per hour, on the day of the consultancy in their office. Consultancy for celebs would be a different situation.
If Tom had know-how of undoubted value and beyond compare, he can always insist on payment on the day. Mind you they can be pretty quick with their accounts once the work is completed. |
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#27 |
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Join Date: Oct 2010
Posts: 353
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There is a huge difference to people whom the solicitor knows have money and those he knows havent. If he knows you have 'rights' to something that means you have money of some sort. An inventor has nothing. One doesnt hear of solicitors making a loss. I can assure you no solicitor will ever take anyone on trust.
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#28 |
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Join Date: Mar 2011
Posts: 1,366
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The reality is probably not as bad as it sounds. Tabloids are always hamming stories up to make them sound worse than it is - its how they sell their rags after all
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#29 |
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Join Date: Dec 2007
Posts: 94
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Nasty stuff. Goodbye and good riddance, NOTW
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#30 |
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Guest
Join Date: Nov 2007
Posts: 6,073
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Sorry but Solicitors send out bills or accounts for their services after they have acted for you or they may ask for interim payments for long cases. I do not know of a single solicitor who demands cash upfront. Alot of businesses work like this (like Tom's). You have to take people on trust when you act for them or advise them.
Mind you they can be pretty quick with their accounts once the work is completed. In cases where solicitors give professional advice on a legal issue without the probability of a relationship ongoing afterwards, the completion of his advice could be the end of the client relationship. If he was not confident of collecting his invoice, then it is understandable if he wants cash on the spot. His ancient legal profession would thus be emulating the oldest profession of all -- not that I admit firsthand knowledge of the second .
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#31 |
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Forum Member
Join Date: Mar 2009
Posts: 275
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Quote:
There is a huge difference to people whom the solicitor knows have money and those he knows havent. If he knows you have 'rights' to something that means you have money of some sort. An inventor has nothing. One doesnt hear of solicitors making a loss. I can assure you no solicitor will ever take anyone on trust.
I am only speaking from experience and I don't have any money but I have never ever been asked for money up front. For instance, when I have moved house and used a solicitor then I have always recieved my bill after the sale and move. I would not expect to recieve a bill for work not done or for estimated costs. I would only pay a bill for work I know has been done. How do they know that you have money? Perhaps we do things differently oop North! |
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#32 |
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Forum Member
Join Date: Oct 2010
Posts: 353
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Really??
I am only speaking from experience and I don't have any money but I have never ever been asked for money up front. For instance, when I have moved house and used a solicitor then I have always recieved my bill after the sale and move. I would not expect to recieve a bill for work not done or for estimated costs. I would only pay a bill for work I know has been done. How do they know that you have money? Perhaps we do things differently oop North! |
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#33 |
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Forum Member
Join Date: Oct 2010
Posts: 353
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I am not really sure what you mean. You dont have to 'pay' a solicitor. He adds it to the mortgage somehow or the down payment. When you sell he makes sure to take his 'cut' before giving you the proceeds.
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#34 |
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Inactive Member
Join Date: Feb 2008
Posts: 5,843
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If this is true then it's not good for Tom's chances of winning but if this is new news, recently disclosed, then Sugar wouldn't have known about it. I'm assuming the winner has been picked so this revelation won't matter?
Anyway, Tom is utterly useless on The Apprentice, nice bloke though, so I can't see him winning! Sorry, Tom.
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#35 |
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Forum Member
Join Date: Jun 2008
Location: Button Moon
Posts: 7,251
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Quote:
Sorry but Solicitors send out bills or accounts for their services after they have acted for you or they may ask for interim payments for long cases. I do not know of a single solicitor who demands cash upfront. Alot of businesses work like this (like Tom's). You have to take people on trust when you act for them or advise them.
Mind you they can be pretty quick with their accounts once the work is completed. |
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#36 |
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Forum Member
Join Date: Sep 2010
Posts: 50
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Having debt and making losses doesn't always tell the true story of a company.
Amazon for example didn't make a profit for the first 8 or so years of operation, made $billions of losses and had $billions of debt, and was still valued at mega $billions. Owner/directors (especially of Ltds) often (legally) manipulate company assets and intentinally make losses or no profit to avoid paying tax, or off-set losses against other profitable ventures they have. |
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