When an invoice is overdue, it can be challenging to determine the appropriate steps to retrieve the outstanding amount. Sending repetitive letters or having phone calls ignored doesn’t help anyone, and yet many individuals and companies are unsure how long they should spend chasing debt before seeking professional help. In this blog, our debt recovery solicitors offer specialist insight on the benefits of seeking expert support when a debtor is behind on their payment.
A distinct advantage of instructing a team of qualified debt recovery lawyers is the experience and knowledge they bring to the table. Just as you are an expert in your particular sector, debt recovery solicitors will have extensive skills in reclaiming different kinds of debt. Whether its current, disputed or aged balances, a legal professional can help you plan your next move wisely.
While many people will try and initially deal with owed debts themselves, not all cases can be handled without legal help. To ensure you successfully recover debt from those tricky accounts. it is always recommended you hire the assistance of an experienced solicitor who has dealt with all kinds of debtors. Practised lawyers in this area have heard every excuse as to why debt has not been paid on time, making them best equipped to verify the validity of an explanation, as well as addressing the issue in an efficient manner.
Specialist debt recovery lawyers will approach recovery in a manner that causes the least amount of friction with your customer or client, protecting your professional relationship wherever possible. Chasing up debts yourself can substantially alter your rapport with a client and can mean you are unable to do repeat business with them going forward. Even in cases where you no longer wish to conduct future business with your debtor, maintaining a civil relationship and collecting your debt through a third party can be beneficial when it comes to managing your commercial reputation.
In some instances where payment is not forthcoming, it may be necessary to escalate a debt and initiate legal proceedings against your debtor. A debt recovery solicitor will be able to offer you professional advice on this, as well as start proceedings on your behalf. This can save you a great deal of time and stress, helping to ensure that matters are resolved quickly while avoiding unnecessary and costly proceedings.
Creditors can be unsure about their legal rights when it comes to recovering debt, but qualified solicitors can offer clarity and certainty in respect of what steps should be taken. When you instruct a debt recovery lawyer, you can be confident that all collection techniques will be legal and that a comprehensive knowledge of the law will be used to achieve the best outcome for you.
At James & George Collie, we have years of experience in raising bankruptcy and liquidation proceedings against both individual and company debtors. Our dedicated collection team can act on your behalf to ensure that you get any due money as quickly as possible. For specialist advice on recovering your debt, call us on 01224 581581, or complete our online enquiry form.