Often, an outstanding debt can also impact on the financial security of you or your company and there’s a need to recover the money quickly and efficiently. Business relies heavily on cash flow and if a customer or client owes you money then that can have a damaging effect on your day to day operation. In most cases, the debt recovery process starts with a letter advising the individual or company debtor that if they do not settle their debt, you will be forced to take action to recover what is owed to you. If payment is not received, the nature of the debtor’s response will determine if further action is required and what form this should take.
The process of debt recovery includes letter before action followed by issuing a claim against the debtor. Our debt recovery solutions are competitively fixed price to cater for most budgets and circumstances with no deductions taken from the amount owed. However, in complex cases we charge hourly rate which is £250 per hour (plus VAT if applicable). Our fee is exclusive of disbursements e.g court fee etc.