Our team of debt recovery solicitors at Grant Saw act for both individuals and businesses, offering experienced services to recover your money promptly via the most cost-effective solution.
Acting swiftly and effectively in cases of late payments is crucial for the longevity of a business. Our debt recovery solicitors understand that late payments can have serious ramifications, potentially leading to financial difficulties or even insolvency.
County Court Claims
Our debt recovery solicitors emphasize the importance of a strict credit control process. However, when formal legal action becomes necessary, our team can issue a County Court Claim on your behalf. This step often serves as a strong incentive for debtors to settle their debts, especially to avoid the negative implications of a County Court Judgment on their credit rating.
County Court Judgments
If you succeed in your claim, you will obtain a County Court Judgment. This enforceable court order demands payment of the debt, including certain legal costs and interest. If the judgment is not satisfied within 30 days, it will negatively impact the debtor’s credit rating. Our debt recovery solicitors can advise on various enforcement options should the debtor refuse to pay.
Our debt recovery solicitors can also commence insolvency action against a debtor if the debt exceeds £750 for companies or £5,000 for individuals. The process begins with serving a statutory demand, followed by a winding-up or bankruptcy petition if the debt remains unpaid. This approach is effective when the debtor is in England or Wales and the debt is undisputed.
Comprehensive Services Offered by Our Debt Recovery Solicitors
- Drafting official debt recovery letters, letters before action, claim forms, and particulars of claim to issue proceedings.
- Engaging in settlement discussions and agreements.
- Alternative dispute resolution measures.
- Drafting trading terms and conditions.
- Advising on dealing with late or non-payers.
- Enforcing court judgments.
- Drafting and serving statutory demands.
- Issuing winding-up orders and bankruptcy petitions.
Our team of debt recovery solicitors are accredited by Lexcel, ensuring the highest standards of client care, compliance, and practice management.