Debt Recovery
DEBT RECOVERY SOLICITORS & DEBT COLLECTION SERVICES BATH
A business owed money can find it difficult to decide whether to use a debt collection agency or attempt debt recovery using solicitors. The perception is that using solicitors is more expensive, and we appreciate there can be advantages in trying other methods, but many debtors will pay without significant costs being incurred and will take the matter far more seriously if you instruct a solicitor. An approach to debt recovery services generally based on the following benefits clients:-
- Assessment of whether the debtor can’t pay or won’t pay
- Is the debtor raising a defence or counterclaiming?
- Is the legal position clear on the debt and clearly documented
- Is it clear whether the debtor is a company, individual or other legal entity
- The value of the debt. Is it below the small claims threshold of £5,000.00
- Would the threat of winding up/bankruptcy be likely to result in payment
- The general attitude of the debtor. Is the debtor likely to simply ignore phone calls and letters from debt collection agencies
- Overall cost/benefit of instructing a solicitor
Bath Debt Recovery Services
We can create and are experienced in tailor making a fully cost efficient debt recovery service for small debts, bulk debts or high value/high importance debts. Involving solicitors at an early stage tends to focus a debtor’s mind and indicates you mean business, often a critical factor in successful recovery. Other benefits are that we can:
- Pursue the debt where it may be difficult or inappropriate for you to do so
- preserve relationships with good clients by pursuing debts firmly but tactfully
What do debt recovery services cost ?
We can generally provide fixed, affordable fees for smaller debts or repeat business. With larger debts and/or defended debts we ensure that clients retain control of each step of the proceedings, and consult with clients at each main stage of proceedings to reassess costs/benefits/risks of the current position.