Lawyers Specialising in Quality Debt Collection
Is your business owed money? Problems recovering a commercial debt?
Let our debt recovery solicitors help you recover your money?
- Do your customers fail to settle their debts on time?
- Is chasing debts wasting your valuable time?
- Do you realise how much of YOUR cash is tied up in unpaid debts?
Our debt collection solicitors understand your business can quickly get into financial trouble if customers fail to pay on time. As the area’s fastest growing solicitors, we offer a prompt and cost-effective debt recovery service to collect outstanding debts, while you get on with running your business – giving you the chance to recover your debts at minimal cost.
Combining the personal touch of an experienced team with modern technology means our debt collection team can tailor our service to the needs of small businesses with a single debt, or to large companies with multiple debtors. We succeed in recovering debts for our clients in 91% of cases and represent commercial debt collection clients in Wiltshire, Hampshire, Dorset, Somerset, Berkshire and throughout the UK from our offices in Salisbury, Andover, Fordingbridge and Amesbury.
To find out more about how our debt recovery team can help you and your business, simply call us now on FREEPHONE 0800 1404544 or Salisbury 01722 422300. Initial legal advice on the phone is always FREE.
How big is the unpaid debt problem for small and medium-sized businesses in the UK ?
Far too many small and medium businesses struggle with bad debt. In fact a recent survey conducted by Company Check established that 68 per cent of small businesses have had to write off bad debt.
Large companies alone owe UK SMEs in excess £26 billion.
Why do small businesses build up such bad debt. According to a study by insurers, Direct Line, 11% of firms simply said they did not have enough time to chase up unpaid bills, while 10% claimed to be afraid of damaging their relationship with their debtor by insisting on being paid the money they were owed. And 3% didn’t even know how to go about reclaiming the monies they were owed.
Did you know that you are legally entitled to claim interest on unpaid bills?
No ?
Click here to find out how to charge interest on unpaid bills
How does our Debt Recovery service work?
Our solicitors’ debt recovery service has been designed to recover your money promptly and efficiently. All you need do is email details of your debts and we will take care of the rest. We will:
- Write a solicitors’ letter before action, demanding full payment in 7 days. In our experience 71% of debtors pay up at this stage.
- Subject to instructions, start legal proceedings to recover your money if the debtor has not paid within 7 days.
- If the claim remains undisputed, obtain Judgement and take all necessary steps to enforce it.
- If the claim becomes disputed, we will advise on the merits of your debt collection case and pass it to our experienced litigation team.
- Keep you advised regularly of action we have taken for you – including how much of the debt we have recovered and how much we have had to pay out on your behalf.
Debt Collection – had enough of excuses?
- “There is no one in to sign a cheque today”
- “The cheque is in the post”
- “We need a copy of the invoice”
Then you need our solicitors’ debt recovery service.
Debt Collection – ever asked yourself these questions?
- Can I charge interest to customers who are slow to pay their debts?
- Can I claim for my debt recovery costs in addition to legal costs and interest?
- A customer has gone out of business but still has our goods – can we get them back?
Then you need our solicitors’ debt recovery service.
Are you a landlord who is owed rent?
Whether or not you are looking for solicitors to help you with collecting rent arrears or you are looking to evict a residential tenant, our specialist team can help
Click here to read more about how our Landlord and Tenant Solicitors can help you
What happens when the debt is disputed?
In the event that the debtor argues that the debt is not owed, or the amount due is smaller, this will probably need to be dealt with as a contractual dispute. But rest assured, our team are equally skilled at this kind of commercial dispute resolution – and will help you to regain your money as soon as possible with as little hassle as possible.
Click here to read more about Commercial Contract Dispute Resolution
Improve Your Credit Control
How to Improve your Credit Control – 14 Great Tips
Recent research shows that up to 1 in 4 businesses go insolvent every year due to invoices being paid late. Small firms can be particularly vulnerable with estimates that each is owed an average of £30,000 at any one time. No business, large or small, can afford not to take credit control very seriously.
Here are a few tips to put into action straightaway:
- Make your terms clear. Agree payment terms at the order stage and have those terms printed on relevant documents such as invoices. Terms should include any credit period and details of interest charges on overdue accounts.
Don’t rely on someone else’s T & Cs which you downloaded from the net. It’s worth getting one of our solicitors to have a look at your T & Cs to see if they need redrafting or updating.
Click here to learn more about how we can help you ensure you have watertight terms and conditions
- Don’t forget all businesses have a legal right to claim interest from late paying customers.
- Consider credit checking potentially large customers An online credit rating can be on your desk in minutes and costs from £10 upwards. Consider taking up credit references.
- Make your invoice clear An easy to understand invoice will encourage customers to pay more quickly. Don’t forget to include a detailed description of the goods, a reference to the order number and the agreed payment date.
- Get the order right. Any mistake in the order itself, or in the paperwork accompanying the order provides your customer with a ready-made excuse to delay payment.
- Make sure you have a full written procedure of your credit control process – and ensure that everyone follows it.
- Chase outstanding bills ASAP This is perhaps the most important tip of all. Always concentrate on the largest debts first, customers you guess may be in financial trouble and older accounts.
- Do not be embarrassed about requesting payment – never forget that it is your money. Phoning is one of the fastest ways to persuade late payers to pay up – never call on Monday or Friday.
- Deal with excuses. Always be sceptical of excuses – they can often be simple delaying tactics. Put these customers high on your chasing list. Have a standard policy on dealing with common excuses such as:
- “I haven’t received your invoice” – check the invoice address is correct and immediately e-mail another copy to the person you spoke to. Phone to check it has been received and ask when you can expect payment
- “I’ll deal with it shortly” – ask when
- “The cheque’s in the post” – ask for the postal date and cheque number
- Keep clear written records – including a log of any call with your customer about payment of the bill – including the date, time, who you spoke to and what you discussed.
- Send 7-day letters – A 7-day letter is the first stage of the legal process; you cannot sue unless you have sent that person such a letter. Some businesses have a policy of not paying until they receive such a letter.
Consider appointing a specialist debt recovery solicitor to send 7-day letters on your behalf. Letters from solicitors are often taken much more seriously and can produce significantly improved results.
- It’s good to talk. Maintain a positive and personal relationship with your customers. You are more likely to get the results you want if you adopt a friendly approach. Explain that you value their business and have been advised to take legal action but only want to do so if there is no alternative. Speak to the managing director or finance director of the business, or another decision maker if possible.
- With ongoing clients or customers, consider withholding your services or any further supply of your goods, until any outstanding invoice has been settled.
- Thank customers who pay on time
Whatever you do, don’t delay. Deal with unpaid bills as soon as possible. Also make sure you have a written credit control system in place and that you use it.
How our debt collection solicitors can help you
If customers continue in failing to pay invoices, why not take advantage of our cost-effective debt recovery service – giving you the chance to recover your debts at minimal cost by instructing us to prepare for you a Solicitors’ 7 day debt recovery letter.
Someone else holding onto your money? Make an enquiry with us today.
Cash flow problems cause the failure of far too many businesses and major headaches for many others.
If you simply can’t get a customer or client to pay up the cash you are owed, then don’t waste your time. Pass that headache to our specialist Debt Recovery team who can tailor their approach to suit you and your client, playing hardball, or being firm but gentle, whichever you prefer.
Whether your business is based in England Wales, don’t waste another moment call our highly effective Debt Recovery team today, simply:
- Call our team on SALISBURY (01722) 422300 or
- FREE on FREEPHONE 0800 1404544 or
- E-mail us using the online enquiry form below
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