Chasing late payment takes time and resource. Most businesses operate a tight ship and persistent non-payers can seriously affect a business’ cash flow and ultimately its profits. Furthermore, if the situation is neglected, it can also impact on your business’ overall financial standing.

Debt recovery requires a considered ‘project management’ approach. The method, speed and manner of the recovery must be fully scoped, planned, managed and costed. If, as is often the case, circumstances of any instruction alter during the recovery process, retaining flexibility is essential. We work closely with our clients, adapt accordingly and assess what the change in circumstances may mean in terms of cost.

Each instruction needs to be considered against the circumstances of the debtor. Arrears arise for many reasons and a clear understanding of the background is essential in deciding whether or not a debt is to be pursued and, if so, on what basis.

The options open to you are numerous. They vary according to the circumstances/amount of debt and may change as an action for recovery develops. From simple letters before action, Statutory Demands to the issue of proceedings and or Petitions in Bankruptcy to Winding Up Petitions. We will work alongside you and recommend the most cost effective means of securing payment of your debt, by an experienced recoveries team who are commercially aware and above all sensitive to your particular needs.

We can help you with:

  • Sending a letter before action
  • Telephoning to chase payment
  • Tracing of debtors
  • Up-to-date financial information on your debtor
  • Preparation and service of Statutory Demands and Bankruptcy Notices
  • Issuing court, winding up or bankruptcy proceedings for the money owed to you
  • Obtaining a County Court Judgment against your debtor
  • The administration and enforcement of a County Court Judgment to ensure payment of your debt

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SEE ALSO:INSOLVENCY & CORPORATE RECOVERY >>


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PARTNER

Paul Hopkins

PAUL HOPKINS

Partner, Cardiff

+44 (0)29 2039 1727
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