Unresolved debts can have a significant impact on your business, affecting your ability to pay your own suppliers and employees, potentially damaging its reputation and ultimately affecting its survival.
At Rotheras we understand the importance to you of being paid on time and also how time-consuming it can be to chase unpaid debts and money by yourself. Our specialist debt recovery team handles both disputed and undisputed cases and acts for both commercial clients and individuals in the UK and overseas.
We will recover your money quickly whilst approaching your case on an individual basis to assess the amount of pressure and communication that is required to chase your non-paying customer and recover the debt without driving their business away, allowing you to get on with the important job of running your business.
Our process for Debt Recovery usually involves:
Letter before action/statutory demand- The debtor is asked to pay in full within a specified time, and stating in no uncertain terms that in default, Court proceedings will be started and will include a claim for costs, fees and interest. Alternatively a statutory demand can be made under the Insolvency Act. This is a formal step which precedes the presentation of a Winding Up Petition against a company or a Bankruptcy Petition against an individual.
Judgment– If payment is not made in full after our pre-issue demand, we will seek your instructions to start legal proceedings at the County Court. Before issuing proceedings we will perform a further credit check/insolvency search on your debtor using our in-house facilities. We will add claims for fixed costs, court fees and interest (statutory, contractual or late payment) to the debt as appropriate and these will be payable by the debtor if a successful recovery is made.
Enforcement-We will enforce payment of a judgment debt through one of the following methods: High Court enforcement agents, charging order, attachment of earnings or a third party debt order.
Why instruct Rotheras for Debt Recovery?
- We act for businesses of various sizes, from start-ups to large international organisations as well as private individuals.
- We advise clients across the UK and across the world.
- We are members of the League International for Creditors (LIC).
- We work efficiently and thoroughly.
- We can also assist with volume/bulk debt recovery.
- Our debt recovery team can also advise and represent landlords and letting agents in relation to both commercial and residential rent recovery and possession proceedings.
- Our debt recovery department is supported by our commercial litigation team who specialise in handling disputed or complex claims.
What can we help you with?
Debt Recovery Fees for Undisputed Cases
Our basic rates for debt collection on undisputed, straightforward debt recovery matters can be found in detail on these pages:
“We recover your money whilst also ensuring our own fees are transparent throughout”
Debt Recoveries and Collections Manager
Terhi Sygrove is a debt recovery specialist and head of the debt recovery department at Nottingham-based law firm Rotheras Solicitors.
Paige Regardsoe is a Solicitor in our Dispute Resolution department and is based at our Lace Market office.
Susan White is a Paralegal in Rotheras Debt Recovery and Family Law department.
Cycling road safety during the second lockdown
The Prime Minister has announced that England are to be in a nationwide four-week lockdown to control the spread of Covid-19, from November 5 to December 2, as cases have spiked in recent weeks. Consequently, people are being told to stay at home, there is a ban on gathering with people you do not live with and the closure of non-essential business.
Posted on 11/17/2020