Outstanding debts can threaten the stability of a business by creating uncertainty and impacting on cash flow. A significant delay in clients or customers not paying what they owe you can have a huge knock-on effect, potentially affecting the running of your company and damaging its reputation.
Our commercial debt recovery solicitors at Berlad Graham LLP have extensive experience in advising and taking action to recover money for businesses. Our dispute resolution team understands how important it is to resolve such issues quickly and efficiently, and our pragmatic approach ensures that any disruption to your business is kept to a minimum.
If you are looking for advice and guidance on corporate debt recovery issues and want to discuss your next steps, please call Berlad Graham LLP today on 0330 175 5655.
Company Debt Recovery Solicitor Near Me
There are several stages to debt recovery in the UK. These are:
- Letter Before Action (LBA). Sending an LBA to a debtor is the first step towards recouping any monies owed. This is effective in most cases, and no further action is required.
- Legal proceedings. If you send an LBA to your debtor, but you do not receive a satisfactory response, the next stage is to issue legal proceedings through the County Court. The debtor will be sent a court form requiring them to pay the debt, plus interest and costs, within 14 days.
- County Court Judgment (CCJ). If a debtor has defaulted on payments, a CCJ is a court order confirming this. A CCJ enables you to take enforcement action to collect the debt.
- Enforcement. Once a CCJ has been issued, you are then able to ‘enforce’ that debt immediately.
Debtors are deemed as insolvent if they fail to make payment on demand, and the debt hasn’t been contested.
Corporate Debt Recovery Solicitors Uxbridge
If you are a business owner and want to find out more about how our solicitors can help your company to recover unpaid debts, please contact one of the team. You can call us on 0330 175 5655 or contact us via email on info@bglaw.co.uk.
Our commercial debt recovery team work closely with all of our clients to achieve the highest recovery rates and best possible outcomes. We settle many cases quickly without the need for formal legal action, and where this isn’t possible, we’ll issue court proceedings and advise you on the best course of action to take.
Our experienced solicitors act for in disputes arising either as a creditor or a debtor and can advise on all stages of the debt recovery process to bring proceedings to a successful conclusion.
Contact Berlad Graham for legal advice
To speak to our friendly, experienced, professional corporate debt recovery lawyers in Uxbridge today, please call 0330 175 5655 or email info@bglaw.co.uk.