Business » Insolvency » Debt Recovery
It’s an unfortunate reality that mismanaged cash flow is one of the biggest reasons that a business may fail. That’s why it’s so important to work with a trusted advisor like us to help you recover debts.
Contact our Debt Recovery Solicitors at Taylor Emmet
Or we can call you back at a time of your choice.
When it comes to debt recovery, we become a seamless extension to the credit control departments of your business.
Debt Recovery can be complex, and there are often several organisations involved. Our team of debt recovery solicitors are experts in their field, and they can adapt to any case, in a timely and efficient manner.
As every matter is different, and the complexities can alter, we operate a Partner-led service that is tailor made to you. We get to know your business and work in tandem with you to meet your debt recovery outcomes.
Bankruptcy
Bankruptcy:
- Issue and service of statutory demands
- Issue and service of bankruptcy petitions
- Obtaining bankruptcy orders
County Court proceedings
County Court proceedings:
- Issuing proceedings
- Entering default judgments
Defended actions
Defended actions:
- Advice on procedure to trial
Enforcement
Enforcement:
- Instructing the bailiff or
- High Court enforcement officer
- Charging orders
- Attachments of earnings applications
Pre-action collection
Pre-action collection:
- Sending letters before action
- Chasing outstanding invoices on the telephone
Risk reduction techniques
Risk reduction techniques:
- Advice on terms and conditions
- Advice on credit rating
Winding up proceedings
Winding up proceedings:
- Issue and service of winding up petitions
- Obtaining a winding-up order
Debt Recovery – Fee Information
At Taylor Emmet, we’re proud of our Partner-led debt collection service. We get to know you and your business and provide practical and straightforward advice.
We work with you to create a bespoke cost package. Our debt recovery services start from £300 plus VAT of £60 (Total £360).
Our Debt Recovery service
Here’s a little summary of what to expect when working with our Debt Recovery solicitors:
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What is included:
- Taking your instructions and reviewing documentation:
- Preparing and sending a Letter Before Action and one chasing letter (if required); and
- Receiving payment and sending on to you, or if the debt is not paid within an agreed timescale, providing you with advice on the next steps and the likely costs.
We don’t anticipate that any payments to others (known as disbursements) will be incurred in connection with the sending of a Letter Before Action on your behalf.
Where your claim is in relation to an unpaid invoice which is not disputed, and enforcement action is not needed the fee is £300 plus VAT of £60 (Total £360).
The timescale of 3-4 weeks is subject to the other side paying promptly on receipt of our Letter Before Action and is strictly on the basis that Court proceedings do not prove to be necessary. If Court proceedings are required additional costs will be incurred (see below), and your case will take longer to conclude with, the typical timeframes are as follows:
- Small claim disputes (up to £10,000): 3-4 months up to and including final hearing;
- Fast track or Multi track cases: 6 months to 1 year up to and including trial.
What is not included
- Disputed claims for payment; or
- Claims where payment is not received within 21 days of the Letter Before Action and further action is required to recover the sum due.
In these circumstances we will provide you with a bespoke quote if any further work is required on your behalf, which will include any disbursements (such as Barrister’s fees and Court fee).
Areas of Debt Recovery we can help with:
- Bankruptcy
- County Court Proceedings
- Defended actions
- Enforcement
- Pre-action collection
- Risk reduction techniques
- Winding up proceedings
