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Debt recovery solicitors
Non payment of invoices is a common problem for all businesses and will naturally cause delays and disruption in your finances, productivity and your supply chain.
The ideal outcome in this situation is to reach an agreement to secure repayment without harming an on-going business relationship. This often can be achieved through mediation; a refusal to consider mediation could have cost implications later in Court proceedings, so it is important both you and your debtor consider this as an option. While we cannot provide mediation ourselves, we have various preferred mediators we can refer to you as part of your working relationship with us, such as Mediation CEDR – The Centre for Effective Dispute Resolution.
If a resolution cannot be reached through mediation, we can evaluate with you whether the debtor is worth pursuing through the Court system, and whether any judgment against them could be effectively enforced to secure the payment.
If we do proceed to Court and the Judge finds in your favour, the judgment must be served on your debtor with a request that the monies are paid to you. If they fail to make the payment, there are a number of options for you, which we can support you with:
1). Third party debt orders
It is possible to apply for an order from the Court that any third party who owes money to the debtor pays the amount of the judgment or part of it to you as judgment creditor.
2). Charging order
This is an application to register a charge over the debtor’s property, followed by an application for an order that such property be sold and payment of the debt be made from the proceeds of sale.
3). Execution Bailiffs
Bailiffs can be instructed to seize goods of the debtor, which can then be sold to pay the debt and the costs of enforcement. For further information in relation to the Control of Goods, please click here.
An alternative option could also be insolvency. While such proceedings should not be seen as a method of debt recovery, the threat of them often results in the debtor making payment. For more information on how we can assist you with insolvency proceedings, please click here.
We are experienced in recovering money for our clients, and can adopt a hard stance or tread more carefully depending on how you wish to proceed and the nature of your situation. We act for large corporate clients, including lenders, as well as smaller businesses and individuals. We are committed to meeting your needs quickly, efficiently and successfully, taking the problem off your hands so you can get on with running your business.
We can assist with all aspects of debt recovery, from providing up-front advice on the right course of action based on your situation, through to enforcement of court judgment in England and Wales, as well as instructing search agents to trace debtors where ever they may be.
For further information of pursuing a debt please click here.
If you would like any further information, please contact:
Brian Kirby on 023 8071 7421 or by email at firstname.lastname@example.org.
In relation to contested debt recovery claims, please contact:
Torion Bowles on 023 8071 7455 or by email at email@example.com.