Debt recovery
Unpaid debts have a negative impact on businesses. When you’re looking for swift and effective solutions our debt lawyers can help.
Debt recovery is essential to the continuation of any business. Your debtors are your investors. It is important to be clear to your customers about the need for timely payment.
What is debt recovery?
Debt recovery is an important aspect of financial management, encompassing the task of reclaiming funds owed to you by customers who have, unfortunately, fallen behind on their payment schedules. This multifaceted process involves employing strategic measures to recover outstanding debts and restore financial stability. Successful debt recovery requires a balance of communication, negotiation, and, if necessary, legal intervention to ensure the timely settlement of outstanding financial obligations.
How we can help
Our experienced team of debt recovery lawyers collect on a wide range of debt types including consumer, commercial, asset based finance and debt purchase.
Whether your business has a large volume of debts to recover, or has ad hoc debtors, we understand that collection of payments is a top priority for many businesses.
We deal with all aspects of commercial debt recovery for clients including asset and invoice financiers, insolvency practitioners, businesses and individuals. Our services include:
- Telephone collections
- Producing and serving demand notices
- Chasing calls
- Credit management
- Negotiation and mediation
- Enforcement
Ledger Collection Service
We provide insolvency practices and the companies they represent, the resources needed to collect the payments they need to survive. We fast track their invoices, minimise the distraction of trying to collect old debt, track disappearing debtors, take the necessary legal action and discuss options to those who can’t pay now.
Ledger or book debts might hold a considerable amount of old or abandoned debt that could turn around a struggling business.
Talk to us about
Related services
Meet the team
Our debt recovery experience
Successfully leading our debt recovery team in recovering the significant part of a £2.5million invoice finance ledger exposure for an international ABL client.
Recovered a debt in excess of £165,000 on behalf of an invoice financier from an environmental services company.
In excess of £82,000 collected for an ABL client, alongside the Administrator of a food wholesaler.
Related thinking
My invoice remains unpaid – am I too late to issue legal proceedings?
Debt recovery team successfully collects £1.2 million
Securing swift payment of large debt
Money – It’s that time of year to make New Year’s resolutions and for many businesses that means improving cash flow by collecting in unpaid invoices.
Late payers beware – the Late Payment Act can bite
Insolvency Practitioners: Is your after-the-event insurance policy full of holes?
Why use a legal debt collector? And what is the process?
What to do if a debtor fails to pay your county court judgment
Debt respite scheme regulations 2020 – More protection for individual debtors
Pricing
VAT
VAT is charged at a rate of 20%.| Qualifying debt | Value compensation |
| Up to £999.99 | £40.00 |
| From £1,000 to £9,999.99 | £70.00 |
| Over £10,000 | £100.00 |
| Debt (Inc Interest & LCP) | Court fee | Fixed costs |
| Up to £300 | £35.00 | £50.00 |
| £301- £500 | £50.00 | £50.00 |
| £501- £1,000 | £70.00 | £70.00 |
| £1,001- £1,500 | £80.00 | £80.00 |
| £1,501- £3,000 | £115.00 | £80.00 |
| £3,001- £5,000 | £205.00 | £80.00 |
| £5,001- £10,000 | £455.00 | £100.00 |
| £10,001- £200,000 | 5% of the value of the claim | £100.00 |
| Over £200,000 | £10,000 | £100.00 |
| Amount Of Judgment | Fixed Costs |
| £25- £5,000 | £22.00 |
| Over £5,001 | £30.00 |
Bailiff / High Court Enforcement / Court Order
This can take approximately three weeks. The High Court Enforcement apply for Writ of Control and write to debtor giving seven days’ notice to make payment, failing which an officer will make an attendance. Below are the fixed court fees and costs you will incur:| Amount Of Judgment | Court Fee (Non Vatable) | Fixed Costs |
| £25- £600 | £100.00 | £2.25 |
| *£600+ | £71.00 | £51.75 |
How we made a difference
Contact us
If you have a question or need advice, please let us know how we can help.
