Debt Recovery can be one of the most frustrating and detrimental issues to deal with when running a business. Smooth financial transactions are key to ensuring your chain of operations runs in a timely and effective manner, so when this becomes disjointed it can stop fluidity very swiftly.
If initial contact with your debtor in your agreed business terms manner have proved unsuccessful, you may be in need of an official legal debt recovery solicitor. We can work with you to approach the organisation or individual in question and attempt to rectify the situation before the need arises to pursue the option of a court case.
Please be aware that when it comes to outstanding debt, reclamation does have certain time frames attached so as soon as you feel unable to progress any further by yourself it is important to discuss your options with a trained professional.
Our debt recovery lawyers have been helping businesses maintain a healthy cashflow for years. Drawing on their knowledge of effective credit control techniques and the options available to deal with disputed and hard-to-recover debts, they can help with:
- the development of robust credit control procedures;
- formal demand letters, requesting payment as soon as an account becomes overdue;
- follow-up letters to deal with account queries;
- compliance with the strict rules governing the recovery of debts from individuals, including sole traders and members of the public;
- calculating interest due on outstanding accounts in accordance with your terms and conditions of trading;
- calculating interest, compensation payments and recovery costs that may be added to outstanding accounts owed to you by other businesses under the Late Payment of Commercial Debts (Interest) Act 1998;
- the issuing of statutory demands for undisputed debts where the instigation of bankruptcy or insolvency proceedings is considered the best way of securing payment;
- the issuing of court proceedings for undisputed debts where bankruptcy or insolvency proceedings are not appropriate;
- the use of mediation and other forms of alternative dispute resolution to deal with disputed debts;
- the issuing of court proceedings for disputed debts where alternative dispute resolution is not appropriate or has failed; and
- the enforcement of court orders directing debts to be settled.
Advising businesses throughout Kent and beyond
We have offices in Chatham, Maidstone, Gravesend and Tenterden where we can meet you to discuss your requirements.
If the need arises we can also offer meetings at your place of business or via skype if you are regularly out of the country.
The cost of our debt recovery service depends on your circumstances and whether the debts passed to us are disputed. We are happy to provide a quotation and to agree flexible payment terms, including monthly billing to help you budget.
Where the Late Payment of Commercial Debts (Interest) Act 1998 applies it may be possible for you to recover some or all of the costs incurred in the debt collection process. This is because, under the Act, it is usually possible to add interest, compensation and reasonable recovery costs to any sums you are owed.
Get in touch
Call us on 01634 811444 if you need our help. Alternatively complete our Contact Us form and we will be in touch as soon as possible.