Debt Recovery Advice
Successful management of credit control and debt recovery requires skilled attention. Unpaid invoices represent a serious threat to cash flow and profitability. Whatever the reason for non-payment, our priority is to place you at the top of the creditor's payment list.
Our Experience in Debt Recovery
Debt recovery is an area of expertise requiring both experience and ability to move with changing economic climate. We have many years experiene of a broad mix of debt recovery work in relation to both trade and consumer debt.
About Debt Recovery
Successful debt recovery requires planned action, which may range from immediate insolvency proceedings for high value corporate debts, to traditional Letter Before Action processes and court proceedings. Our pre-litigation service has developed a comprehensive letter and telephone collections system ensuring the prospect of recovery of overdue accounts is increased.
We don't believe in a "one size fits all" approach, but develop bespoke debt recovery solutions tailored to the needs of specific organisations and sectors.
When Litigation is Required
If litigation is required, we can help you pursue your case through the courts. Debt recovery actions are issued either in the County Court or High Court utilising the expertise of experienced members of staff. The litigation is undertaken at agreed fees and we will discuss these with you. We pride ourselves on being open about cost, with no hidden charges.
Letter Before Action
As soon as we receive instructions, we will write to the debtor advising the debtor that if payment is not made or assets are not returned within seven days, court proceedings will be issued against them. We will explain the various options available to you depending on the debtor's response.
Enforcement of Judgement
Once we have obtained judgement against the debtor, we shall review the various enforcement methods with you. We will always work with you to identify the action needed to achieve the best possible result.
You may wish to consider:-
Instructing the Sheriff/Bailiff - the sheriff/bailiff will levy on the debtor's goods, which can be sold at auction if the debt is not paid.
Orders to obtain information from judgement debtors - the debtor is ordered to attend a court hearing where he must give details of his income, outgoings, and any assets that he may own.
Attachment of earnings - the debtor's employer can be ordered to deduct installment payments direct from the debtor's wages in respect of the money owed to you.
Charging orders - the judgement debt is registered upon the debtor's property, which can prevent him from selling or disposing of the property unless the debt is paid. In certain circumstances, we may be able to obtain an order providing for the sale of the debtor's property so that you do not have to wait until the debtor wishes to sell his property before you recover the monies owed to you.
In certain circumstances, (including once you have obtained judgement against the debtor) an application to make the debtor bankrupt (if he is an individual) or to obtain a winding up order (if the debtor is a company) may provide an effective recovery. The first step is usually to serve a statutory demand.
Insolvency proceedings are not the end of the road. A winding up petition against a company in respect of an undisputed debt is a powerful negotiating tool. Bankruptcy proceeding against an individual can be taken on the basis of a judgement, but even in these circumstances we work hard on your behalf to obtain payment and to avoid the insolvency of your debtor.
Our charges vary according to the amount claimed and whether the debt is contested. We shall be pleased to provide details of our charges on request. We will, on a regular basis, as agreed with you, invoice you for our costs and disbursements and account to you with monies recovered.
We will report to you on each case on a monthly basis (or as you require).
We also offer services in relation to other legal matters:
- Conveyancing - Residential and Commercial
- Family and divorce matters
Please call 01226 210777 to discuss your needs.