Effective credit control is critical to the success of any business. It has been estimated that amongst small and medium-sized enterprises, some 45% of their invoices are in excess of a month overdue. Assuming usual payment terms of 30 days almost half of invoices would therefore be at least two months old. A key element of any effective credit control system is a credible threat, backed up by, if necessary, the actual issue of legal proceedings.
How we can help
Our experience shows that a high proportion of debtors ignore standard reminders and warnings, but when they receive a solicitor’s ‘letter before action’, payment is triggered. If not, then prompt legal action may have the desired effect for the few who persist in non-payment.
This is an area where we have the advantage because of our day-to-day experience of issuing proceedings, which even with modest debts can be time consuming and confusing for busy businessmen and women.
Services
We are fully computerised and generate all court forms on computer to ensure that we are always up to date. Our services include:
- Preparing a letter before action to the debtor.
- Where the ‘letter before action’ does not result in payment in full, preparing and issuing a claim form, and where no response is filed applying for Judgement in default.
- Taking court enforcement action to recover payment once judgement has been obtained.
- As an alternative to court proceedings, where appropriate and there is clearly no defence to the debt, we cam prepare and serve a statutory demand, with the threat of bankruptcy proceedings if the debt is not paid.
- Bankruptcy or winding up procedures
In some cases we may be able to agree fixed fees to cover the work involved.
For further information
Contact Mel McCrum or James Palmer for further information, or to arrange a meeting.
A free initial interview (up to half an hour) may be available to you to meet us and find out whether we are able to assist you. In all cases we will give you an indication of the level of costs likely to be involved and details of relevant charging rates.
Whilst individual solicitors tend to be based at one particular office we have dedicated meeting rooms available at each office to enable us to meet with you at whichever office is most convenient for you.
