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Catherine Rickett, Debt Recovery Manager
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Customers who do not pay on time reduce your profits and can put your business at risk.
Chasing these debts can be highly time consuming and frustrating, taking you away from the vital job of running your business. However, with the right legal support, it is often possible to recover business debts quickly and cost-effectively, unlocking vital funds for your operation, while saving you a lot of time and stress.
Our highly respected Debt Recovery team has been supporting local, national and international businesses for over 15 years, including leading blue chip and utility companies. We also receive instructions from major financial firms such as KPMG, Deloittes, PWC, etc.
We are recommended by the Legal 500 for our Debt Recovery Services which states that our Debt Recovery team offers "An exceptional standard of service".
Our commercial debt recovery solicitors understand the need to balance securing outstanding payments against preserving positive business relationships, so we tailor our approach to your priorities. In most cases, a friendly but firm approach from a solicitor is enough to prompt most people to pay an outstanding debt, without causing unnecessary conflict or ill will.
We have four local offices spread across Cambridgeshire, Lincolnshire and Nottinghamshire, so for expert business debt recovery support, please contact your nearest Roythornes office in Alconbury, Peterborough, Spalding or Nottingham.
The team has built close relationships with existing clients with a view to being seen/treated as an extension to their own internal credit control department.
Get started using our Solicitors Demand Letter service today.
Find out more about our services and fees by downloading our new debt recovery brochure
For many debts, we can offer a fixed cost recovery service, based on producing and sending a demand letter to the late payer. This is highly effective for most debts as knowing a solicitor is involved will typically act as a strong incentive for most people to clear their debt.
Where a demand letter does not achieve the desired outcome and court proceedings are required, the cost of the letter will be waived from our final fee.
We offer bulk debt recovery services for a number of businesses and organisations that have outstanding debts from a large volume of individuals or other businesses. By providing an efficient, streamlined volume debt recovery process, we can swiftly and cost-effectively unlock significant capital for your organisation while saving you from a significant administrative headache.
Where required, we can pursue court proceedings for you to recover a debt. This will involve submitting a claim to the relevant court, setting out who owes the debt and how much it is worth. We can also add any interest owed on the debt and a contribution to your legal fees to the value of the claim.
If the debtor challenges the claim, we can represent you in court and ensure your case is presented effectively, giving you the best chance of securing the right outcome. If necessary, we can also apply for a County Court Judgment (CCJ) against the debtor and apply for various enforcement actions to enable recovery of the debt.
Before pursuing court action, we will make sure you are fully aware of exactly what this involves, including all of the relevant costs and timeframes. You can then make an informed decision about how you want to proceed to best serve your business interests.
While most business debts can be recovered effectively with the right approach, it is obviously far better to avoid this situation in the first place. Our solicitors can review your current credit control processes and advise you on any steps you can take to improve how you deal with late payments internally. This can significantly reduce the number of overdue payments you experience in future, saving you time and money.
For immediate assistance recovering an outstanding debt owed to your business, please get in touch with our highly experience debt recovery solicitors in Alconbury, Peterborough, Spalding and Nottingham.