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>>> Debt Recovery

The most efficient system of debt management is obviously to ensure that debts do not arise by reason of effective internal credit control. This is not so easy and effective steps cannot always be taken at the outset to prevent debt problems.

If you have an outstanding debt, do you spend a lot of time trying to recover it? Do you think we could help you, saving time and money? If you do you could ask us to recover the debt for you.

We would do this by serving a final demand allowing the debtor usually seven days in which to pay advising the debtor if payment is not paid in full, together with any contractual interest, within that time proceedings will then be issued when there will be a claim for interest and costs.

We would then issue proceedings and enter Judgement if the debtor does not indicate that the debt intends to be contested.
If the debt is contested we will obviously take your further instructions as to how you wish to proceed with the claim.
Once judgement is obtained, we can then enforce it in a variety of ways. The usual methods of enforcement include requesting a bailiff to seize goods to satisfy the Judgement debt, obtaining a charging order over the debtor's property and subsequently forcing a sale if necessary, obtaining 3rd party debt order which, in practice usually means taking monies which the debtor is owed, or obtaining an attachment of earnings order if the debtor is employed which effectively means that payments will be sent to us by his employers, being deducted directly from the employers wages or salary.

We will also consider with you whether a more effective method of enforcing a debt would be by way of the commencement of Bankruptcy proceedings in the case of an individual or partnership or Winding Up proceedings in the case of a company.
If you have little or no knowledge of a debtor's circumstances we may suggest that an application should be made to the Court for an oral examination.

FREE SEVEN DAY LETTER

As a special service for our clients, we are pleasd to announce our new Free Seven Day Debt Letter.

Just complete your information on the Seven Day Debt Letter Form and submit. We will then do the rest.

If you charge interest in your contracts/or late payment then please confirm the amount to be charged. Otherwse we shall apply interest under the Late Payment of Commercial Debt Charges.

'Debt Recovery' factsheet

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