Effective debt recovery means a healthy cash flow
‘If your customers can’t or won’t pay our team are here to find the best solution to make sure you get what you are owed’
You may have efficient credit and collection systems in place, but it can still be difficult to control the way that your customers and contractors operate. Sometimes you will need debt recovery advice to collect money owed to you; money that is vital to the health of your business.
Whatever sum you are owed our debt recovery team has a years of experience of successfully recovering outstanding debts for businesses quickly and cost effectively so you can go on running your business.
Your options at a glance are:
- Formal demand
Making a formal demand can be a useful tool where you are owed debts over £750 by a limited company or a plc. The demand aims to recover the debt within just 3 days.
- Statutory demand
A statutory demand can be used to recover debts owed to you by individuals where their debt exceeds £750 and the amount owed is not disputed.
- Winding up / Bankruptcy
Where other measures have failed our debt recovery solicitors can proceed to liquidate the debtor in order to realise their assets and release the debt owed to you. This service includes issuing and advertising the petition and attending the hearing.
- Charging orders
Where a debtor owes you money it may be possible to register a charge against their property, securing the value of your debt.