Business-to-Business Debts
If the debt owed is from business-to-business transactions, such as the sale of goods or provision of services resulting in an invoice being submitted for payment, we can offer fixed fee services for debt recovery.
The steps taken usually involve a letter before action requiring payment, normally within seven days, in the event of non-payment, taking court action to pursue recovery of the outstanding debt.
Where appropriate, an assessment will be made in some cases on whether serving a Statutory Demand is the best course of action.
Pre-action Protocol for Debt Claims
If the debt owed to your business is from an individual, there is a requirement to comply with the Pre-action Protocol for Debt claims.
We can ensure there is compliance with the protocol, which provides an opportunity to try and agree on a resolution without taking court action unless necessary.
A failure to comply with the protocol could result in the court claim being dismissed or costs sanctions against the creditor.
Court Action
If a letter of claim does not lead to a resolution agreed for repayment of the debt, it may become necessary to pursue a court action to secure a County Court Judgment (CCJ), which is a court order to pay money.
Once a CCJ has been obtained, it may be possible to take enforcement action against the debtor if they still do not repay the debt. Our business debt recovery solicitors can help with obtaining a CCJ and any enforcement action.
Costs
The fixed fees for business debt recovery claims are all outlined at the links below:
DEBT RECOVERY (Business to Business) FIXED FEES
DEBT RECOVERY (Business to Individual) FIXED FEES