Debt Recovery

If someone owes you money and is slow to repay, or refuses to pay the debt, there are a range of actions that you can take.

Assuming that you know who the debtor is and that they are able to pay, the most appropriate route will depend on the amount of money owed.

You could try mediation where an impartial trained mediator helps both parties to reach an agreement.

You can use the court system to recover the amount owing or use the online debt recovery service for amounts less that £100,000, involving 2 or less people or 2 or less organisations.

Another option for larger sums of money is to use a statutory demand, providing the debt is less than 6 years old. The debtor then has 21 days to either pay off the debt or reach an agreement on how they will pay the debt. If the debt is above 6 years old you will need to take legal advice.

If you are owed money by a bankrupt person or organisation you need to register your claim straight away. You may not receive the full amount but if there is money available to pay debts then you should at least receive something.

Chasing debts can be a drain on your time and money and can be extremely frustrating. Our expert debt recovery lawyers can help.

How we can help

Sometimes, a formal solicitor’s letter is enough to encourage the person to repay the money they owe you. Failing that, we can:

  • Gather financial information about your debtor
  • Chase payment by telephone
  • Issue court proceedings
  • Obtain a county court judgement against your debtor
  • Enforce a county court judgement and obtain payment

If you would like more information or just want a confidential chat about your options, contact our highly experienced team today.

 

 

Get in touch today