Debt Recovery
Commercial debt recovery
We can help you recover what's owed to your business.
In the current financial climate, it’s more important than ever to make sure all your clients and customers are paying their invoices on time.
Whilst the economy is slowing, it's not fair that you have to wait longer and longer to get paid, which has the knock on effect that your cash flow becomes a problem. Like many businesses, you it simply can’t afford to have thousands of pounds owing when you have your own creditors and employees to pay.
Being proactive and acting fast on recovering debt can bring about many benefits to your business and ensure you don’t get dragged down by your debtors.
Commercial Debt Recovery Benefits
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Reduces your debt levels
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Improves cash flow
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A 'No win, No fee' option may be available
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Frees up more of your time
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The money owed to you could be recovered much quicker
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The cost and hassle of court proceedings could be avoided
As a commercial law firm that has an excellent track record in commercial debt recovery, recovering over £1.5m in the last 3 months alone we can handle the whole recovery process and give you one less thing for you to worry about when you’re trying to run your business day-to-day.
Our Debt Recovery team can handle
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Tracing debtors
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All activities prior to the issue of Court proceedings, including letters before action
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All court proceedings
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Enforcement
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Winding up and bankruptcy petitions
For highly complex, high value or defended debts, our business solicitors will offer bespoke advice where required.
Whether you need the help of a solicitor for debt recovery on a one-off or continuous basis it’s a price worth paying when they recover the funds that are owed to you. Commercial debt recovery rarely runs smoothly and if persistent non-payers are refusing to budge then we can as your instructed commercial solicitor, look at the following avenues in order to get your debtors to finally take action:
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Proceedings in the County Court
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Petitioning for bankruptcy
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Seeking a winding-up order
If large sums of money are involved and they’re threatening the existence of your business then going down the route of commercial debt recovery through a commercial law firm is one that’s definitely worth taking.
Costs are structured in relation to the size of the debt you are looking to recover and the amount of time that goes into recovering the debt.
For an undefended Claim Above £1000, we may be able to offer a No Recovery, No Fee option. Many of our clients prefer this option as the risk is shared with us and the fees are paid as a percentage of the amount recovered. If no recovery is made, you pay us nothing except the disbursements, such as Court Fees.
A lot of companies waste valuable time and resources trying to chase up debtors themselves without getting anywhere so the best option is to get your legal practice to look at unpaid invoices on a case by case basis as soon as they become a problem for your business.
Debt recovery has taken on increased importance in the current economic climate where many businesses are struggling to survive. With companies finding it hard to cope with increased fuel costs, higher interest rates on their borrowing and consumers spending less money, it’s important to act quickly to have the best chance of your debt recovery proceedings being successful as there’s always the possibility that the debtor may go out of business.
Need to Recover a Business Debt?
