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Over 50 businesses from across the region attended a seminar on the latest developments in debt recovery.
The Peterborough event, hosted by Roythornes Solicitors, was run in conjunction with the High Court Enforcement Group, and looked at how changes in legislation affect the way businesses handle their debt recovery.
Leigh White, Debt Recovery Manager at Roythornes spoke about how procedural changes mean that firms need to re-assess their credit control practices. In particular, he covered how firms should investigate in much more detail whether there is the realistic prospect that the debtor will be able to pay, before court proceedings are issued.
Alan Smith, a Director of High Court Enforcement Limited, talked about the role of the High Court Enforcement Officer, a year after changes were introduced to make the recovery of goods more structured and regulated.
Speaking after the event, Leigh White said:
“It was good to see so many local firms at the seminar. Cash collection and credit control are key elements of any business and it’s vital that efficient procedures are in place. The recent changes have put much more emphasis on the efforts companies should make before court action and it was useful to have the opportunity to explain this.”
Roythornes Debt Recovery team work on behalf of a wide range of businesses, and can be contacted on 01775 764157.