Debt Recovery Solicitors
Debt Recovery Services
Unresolved debts can have a significant impact on your business. It can affect your cash flow and ability to pay your own suppliers or employees. Potentially damaging your reputation and ultimately affecting your business survival.
At Rotheras we understand the importance to you of being paid on time. And how much time is wasted when you have to chase unpaid business debts and money by yourself.
With a specialist debt recovery team that handles both disputed and undisputed cases, we can act for commercial clients and individuals in the UK and overseas.
Recovering your money quickly is important to us. But we appreciate that each case is different.
In some cases, you do not want to drive business away when recovering a debt. We understand unnecessary heavy-handed tactics can cause this.
As a result, we approach each case on an individual basis. We assess how much pressure and communication is required when chasing the amount owed from your non-paying customer.
Why use solicitors for debt collection?
Being owed money can be frustrating. It can also be a highly emotive area if the debt is long-term.
Because of these factors, it can be very easy to be tempted to take matters into your own hands.
However, there are laws and regulations in the UK surrounding debt collection. If you end up collecting a debt in an unlawful way, this could put you at fault and potentially liable.
Seeking formal legal advice and legal action from a debt recovery solicitors ensure the correct practices and steps are followed.
As a result, using a solicitor such a Rotheras can be more cost-effective and less time consuming than attempting collection yourself.
Rotheras Debt Recovery Process
Stage 1: Letter before action/statutory demand
The debtor is asked to pay in full within a specified time. The letter will also state that 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 that precedes the presentation of a Winding Up Petition against a company or a Bankruptcy Petition against an individual.
Fixed fees for this stage of the process begin at £144 (incl. VAT).Explore full pricing for Stage 1
Stage 2: 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.
Included in any claim will be the fixed costs, court fees and interest (statutory, contractual or late payment) to the debt as appropriate. These will be payable by the debtor if a successful recovery is made.
Fixed fees for this part of the process begin at £210 (incl. VAT). If successful, fixed fees will be recovered by the debtor.Explore full pricing for Stage 2
Stage 3: Enforcement
If payment is still not made after a judgement by the County Court, then enforcement will need to be applied. This is where the debtor is enforced to make the payment.
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.
Fixed fees for this part of the process begin at £90 (incl. VAT). Prices vary depending on the value of the debt and the type of enforcement required.Explore full pricing for Stage 3
Why use Rotheras for Debt Recovery?
- From start-ups to large international organisations as well as private individuals, we can act for you.
- We have successfully recovered debt for clients throughout the UK and across the world.
- Members of the League International for Creditors (LIC).
- All work is completed efficiently, thoroughly and appropriately to your business needs.
- Assistance with volume/bulk debt recovery possible.
- Legal advice and representation for landlords and letting agents for both commercial and residential rent recovery and possession proceedings.
- The debt recovery department is supported by our commercial litigation team. This team specialises in handling disputed or complex claims.
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
What can we help you with?
Debt Recovery Team
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 Senior Paralegal in Rotheras Debt Recovery and Family Law department.
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