Debt Recovery


DEBT RECOVERY

DEBT RECOVERY

RECOVERING YOUR MONEY
A piece of advice to all is that the longer a debt is left, the less likely it is to be paid and recovered in full. 

Bad business decisions can lead to Bad Debts which will affect cash flow and create serious problems for your business. But pursuing debtors is time consuming – time better spent running your business.

Rivernote Solicitors recognise the importance of pursuing business debts quickly and efficiently.


Make an Enquiry

We offer a fixed fee service – the benefits of which are obvious. If after doing a risk assessment of your case, we feel that the success chances on your case are worth proceeding with, we will provide a fixed fee quote meaning you know exactly how much you will pay depending on the stage of settlement. 
You will not be left with a nasty surprise at the end of your case.
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Enquire 0161 9893355

STAGES OF RECOVERY

Step One - Letter Before Action

Before issuing any legal proceedings a letter before action (LBA) must be sent to a debtor. An LBA is a formal letter which sets out what is owed from a debtor to your business. It gives your customer a set time period in which to pay. 


Step Two - Legal Claim

If you send a letter before action to your debtor but you do not receive a satisfactory response then the next stage in the legal process is to issue legal proceedings through the County Court. This is a formal process where the debtor will be sent a court form requiring them to pay the debt, plus interest and costs within 14 days. 


Step Three - Judgement 

A County Court Judgment (CCJ) is a Court Order that confirms that the debtor has defaulted on payment. A CCJ can be obtained immediately after the expiry date of the County Court Claim. The CCJ is the final decision by the Court which gives you the power to take enforcement action in order to collect the debt.


Step Four - Enforcement

Enforcement is to instruct a Bailiff or High Court Enforcement Officer to attend the address of the debtor and collect the debt or seize goods.


For a free consultation please complete the enquiry form or contact us on 0161 989 3355.
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Enquire 0161 9893355

Enquire 0161 9893355

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