Debt Recovery
Understanding Debt Recovery
The stress of chasing debtors and navigating the legal complexities of debt recovery can be overwhelming. At Dutton Gregory, we understand the frustration and financial strain that unpaid debts can cause. Our specialist debt recovery solicitors are here to provide you with clear, practical, and reassuring support.
Debt Recovery
Engaging a Debt Recovery Lawyer
If you are experiencing challenges in collecting money that you’re owed, engaging a commercial debt recovery lawyer may be the most effective course of action. Hiring a debt recovery lawyer can significantly improve your chances of recovering the debt faster and more efficiently.
Types of Debt in Commercial Settings
In commercial settings, various types of debt can arise, each requiring a nuanced approach for recovery. Non-payment or late payment of outstanding invoices can severely impact cash flow and put a significant strain on a business. From unpaid invoices to breach of contract claims, our debt recovery lawyers possess the expertise to handle a wide range of commercial debt situations.
Expertise
Debt Recovery Expertise
Dutton Gregory stands out as a leading law firm with proven expertise in debt recovery. Our specialist debt recovery solicitors are equipped with the knowledge and experience to navigate the intricacies of debt collection, ensuring the best possible outcome for our clients. We take pride in delivering a professional, efficient, and commercially focused debt recovery service.
Recovery Services Offered
Our debt recovery solicitors can help with a comprehensive range of recovery services. In particular, we can assist with the following:
- Issuing County Court proceedings to recover your debt.
- Statutory demand, bankruptcy, and winding-up proceedings.
If court action becomes necessary, our experienced team can provide you with practical and comprehensive advice. We offer legal assistance for enforcing judgments and can help with the instruction of High Court enforcement officers, County Court bailiffs, charging orders, attachment of earnings, and other related matters. Our debt recovery solicitors can help with both personal and business debt.
Our Team
How Our Team Operates
At Dutton Gregory, our debt recovery team is dedicated to providing a tailored and efficient debt recovery service. Our debt recovery team will work closely with you to thoroughly understand your business and the nature of the debt before initiating the debt recovery process. Our legal case and matter management software system has a direct electronic link with the County Court Business Centre, which means we can submit a legal claim, and it will then be issued and sent directly by the Court to the debtor on the next working day.
Recovery Techniques
Our debt recovery solicitors can utilise several methods to attempt pre-litigation collections. Our debt recovery lawyer will initiate a pre-action protocol, commonly referred to as a letter before action, which will be written and sent to the debtor. Depending on your requirements, we offer several different types of letters before action. A County Court judgment should then be placed on the debtor, which confirms that they owe you the debt.
The Process of Debt Recovery
Initial Steps
When you are facing difficulties with unpaid debts, begin by communicating directly with your customer or client to understand the reason for the delayed payment. This initial contact presents an opportunity to reach an amicable agreement and establish a mutually acceptable payment schedule, potentially avoiding the need for further formal debt collection. However, should the relationship break down and you find yourselves unable to reach a satisfactory agreement, our team of debt recovery solicitors can step in to assist. The sooner you contact us about your debt problem, the better your chance of collection.
Pre-Action Protocols
As part of our debt recovery service, our debt recovery team will issue a pre-action protocol for debt claims compliant letter of claim to the debtor, including copies of the invoices or a statement of account, and any other relevant documentation related to the debt we are seeking to recover. The structure of the letter of claim clearly outlines the origin of the debt and specifies the debtor’s obligations within 14 days. These obligations include paying the demanded sum, proposing a payment plan, or providing substantial evidence to support a dispute. The letter also clearly outlines the potential consequences of not responding. We will follow up on the letter to make sure that the debtor is given every opportunity to engage with us on your behalf.
Court Proceedings
Should it become necessary to initiate court proceedings to recover unpaid debts, the claim submitted on your behalf will include additional costs and interest, calculated in accordance with the Late Payment of Commercial Debts (Interest) Act 1998. The debtor is granted a period of 21 days, which includes 7 days for service and 14 days for response time, to notify either us or the County Court of their intentions. Failing such notification, we will request that the Court enter a County Court Judgement (CCJ) in your favour using our matter management system. In that case, the debtor defends the legal claim, our debt recovery solicitors will offer a considered advice note assessing the merit of the attempt to engage to determine whether settlement is possible.
Frequently Asked Questions on Debt Recovery
The timeframe required for the debt recovery process can vary, depending on the case’s complexity and the debtor’s responsiveness. Simple, undefended debt claims may resolve quickly, whereas more complex cases involving disputes or insolvency can take longer. Our debt recovery lawyers aim to expedite the debt collection process as much as possible, employing efficient strategies to recover the debt swiftly while keeping you informed at every stage.
At Dutton Gregory, we understand the importance of transparency in pricing for our debt recovery service. We structure our fees so that you are clear on the cost of the service you need. We will work on a fixed-fee basis wherever possible for standard undefended pre-legal and legal actions. Our debt recovery team will discuss the options available to you and your business, which may include a fixed fee basis, a no-recovery, no-fee option, or a time spent basis.
Wherever possible, we look to recover some or all costs by applying interest and fixed charges to the debt in accordance with the Late Payment of Commercial Debts (Interest) Act 1998, or reasonable recovery costs in accordance with The Late Payment of Commercial Debts Regulations 2013. We will also discuss with you whether you have any contractual terms permitting the recovery of costs. We will not take any step that will incur a cost to you without your consent and aim to keep costs to a minimum. We’re happy to discuss with you the likely cost of our help and advice, and we’ll always advise you on the balance between the potential cost of pursuing payment and the amount owed to you.
To ensure successful debt collection, it is essential to be proactive and take the lead when attempting to recover what is due to you for goods and services supplied to your customer. The sooner you engage our debt recovery solicitors, the better your chances of a successful outcome. Providing us with comprehensive information about the debt and the debtor is crucial. Our debt recovery team will assess the case, employ appropriate debt recovery techniques, and pursue legal action when necessary to recover the debt effectively.
Dutton Gregory is committed to providing you with a clear and practical debt recovery service. We can help you secure the future finances and success of your business. Our efficient debt recovery process aims to minimise disruption to your operations while maximising the chances of recovering the debt owed to you. Our experienced debt recovery solicitors can help you navigate the complexities of debt collection, ensuring you get the money you are owed.
By appointing us to work on your behalf, you’re free to get on with running your business and leaving the onerous task of chasing money to experienced lawyers. Using us to hunt and recover debts for you has certain advantages, such as stepping up the pressure on the customer where it may be difficult or inappropriate for you to do so, and helping to defuse awkward situations without your involvement, thereby helping you stay on good terms with your customers. The demanded sum in the letter of claim will include added interest, compensation and reasonable recovery costs in accordance with the Late Payment of Commercial Debts (Interest) Act 1998.
Client Testimonials and Success Stories
Our track record speaks for itself. We have helped businesses of all sizes recover unpaid debts and improve their cash flow. Our clients appreciate our transparent communication, proactive approach, and dedication to achieving positive outcomes. We understand the challenges businesses face when dealing with unpaid invoices. Our debt recovery service is focused on providing clear, practical and efficient ways to recover your debt.
We invite you to contact our debt recovery solicitors to discuss your case and explore how we can assist you in recovering the debt you are owed.
Our Accreditations
