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As debt recovery solicitors we help your business to recover late payments and if necessary will take a debtor to court. Effective credit control is critical to the success of any business. It has been estimated that 45% of invoices raised by small and medium-sized enterprises are in excess of a month overdue. Assuming usual payment terms of 30 days almost half of all invoices will therefore be at least two months old.
How we can help collect payment?
A key element of any effective credit control system is a credible threat, backed up, if necessary, by court action. This is where a specialist debt recovery solicitor comes into action, saving your business considerable time and money.
Our experience shows that a high proportion of debtors ignore standard reminder letters and warnings, but when they receive a solicitor’s "letter before action", payment is often triggered. If not, then prompt court action may have the desired effect for the few who persist in non-payment.
The task of issuing court proceedings, even for modest debts can be time consuming and confusing for businesses. We will harness all our knowledge and experience of the court process and procedures on your behalf so as to help you improve your cash-flow.
Our debt recovery services include:
- drafting and sending 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,
- where no defence is filed applying for judgment in default;
- taking court enforcement action to recover payment once judgment has been obtained;
- advising on bankruptcy or winding up procedures;
- advising and representing you where some or all of the sums claimed are disputed
Debt Recovery Pricing
For details of our charges for our Fixed Fee Debt recovery service for undisputed debts please click on this link.
For further information
Contact James Palmer for further information, or to arrange a meeting.
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.