Debt Recovery
Cash Flow is one of the most important aspects of running a successful business
and can cripple even the most profitable organisation.
Even the most cautious business will suffer occasional bad debts. Our specialist
Debt Recovery Department can deal efficiently and effectively with debt recovery
of all types and sizes.
Procedure
In the first instance we will start the ball rolling by writing a strong demand
letter; most debts are settled at this stage, but if it doesn’t work we will start
Court proceedings on your behalf.
If a case goes to Court, and Judgement is obtained in your favour, the debtor is
obliged to pay you. If the debt is still not settled there are a number of possible
enforcement procedures including:
- Warrant of Execution
- Attachment of Earnings
- Order to attend Court for questioning
- Charging Order over Property
- Bankruptcy or Liquidation
- Third Party Debt Order
We will explain these to you, and help you to put the most effective solution into
action if required.
Not everything goes according to plan. Sometimes there may be a genuine dispute
between you and your customer, or supplier, and debt collection procedures will
not be relevant. We have an experienced team of Litigation lawyers who specialise
in handling a range of
commercial disputes through negotiation and, if necessary, trial.
How can I help to avoid potential problems?
Credit Status Checks
Don’t let that lucrative new deal turn into a massive liability. Giving credit in
some form is usually unavoidable, but spending a little time researching a customer’s
ability to pay at the outset can save a lot of effort and expense later. Take out
a credit reference before you agree to supply a new customer or offer a higher level
of credit than you would normally. We can advise on how to do this.
Prevention is better than cure. We can advise your credit control staff on developing
and implementing clear and effective policies, and give them tips on how best to
chase debts in the initial stages.
How can we help?
Professional debt collection can cost less than you might expect. A small investment
in time and advice now could also make your internal credit control systems considerably
more effective.
Whatever your needs, we will respond quickly and efficiently, leaving you free to
concentrate on developing your business.
Contact Us
If you would like to arrange an appointment to see a member of our Debt Recovery
team, please e-mail debt.recovery@chattertons.com
or call Kate Graves, our Debt Recovery Manager or Melissa Thompson from the contact
details given below.
Contact Details
Debt Recovery Team