At Grant Saw you can be assured of receiving prompt advice and assistance in our seeking to recover payment of debts owed to you. We provide an individual service for each of our clients rather than the “one size fits all” product which some national debt recovery companies offer.
Why (or when) someone would need this service?
How long does it take?
If court proceedings are issued which are uncontested, then we will be able to request that the court enter a County Court Judgment on your behalf within 14 to 28 days after the proceedings have been served on the debtor.
If the court proceedings are contested, then the normal time period by when the claim will be listed for trial is between 12 to 18 months from the issue of proceedings. However, the vast majority of cases do settle prior to trial on terms which are negotiated between the parties.
If the Statutory Demand route is taken, the debtor will have up to three weeks from service of the Demand on the individual or company to make payment of the debt. If the debt is not paid within this time frame and remains undisputed, you will be entitled to either issue bankruptcy proceedings where the debtor is an individual or a Winding Up Petition where the debtor is a company. A court hearing will be listed to consider the bankruptcy of the individual or the insolvency of the company normally within a two month period from the issue of the Petition.
Is it expensive? What are the likely costs?
Our costs of acting on your behalf to recover uncontested debts owing to you or your business of £100,000 or less, we provide a fixed fee service. Please see our detailed guide here which sets out the procedure and timetable we will follow as well as our fixed costs in acting for you to recover payment of uncontested debts We will provide you with an estimate of costs at the outset once we have been provided with details of the debt outstanding.
Debt recovery tips
- We would suggest that prior to entering into contractual relations with a client that you do undertake some due diligence. For instance you may wish to consider obtaining company accounts to establish the financial standing of the company before agreeing to undertake work for them
- Alternatively if your client is an individual you may wish to consider undertaking a credit search against them to check on their credit status