Debt Recovery Lawyers Aberdeen & Stonehaven
James & George Collie boasts a dedicated debt collection team taking full advantage of custom built IT systems to assist individuals and businesses improving cash flow by recovering debts. We act on behalf of a number of businesses pursuing multiple debts and also for individuals who encounter such problems.
Our services include:
Letter Before Action
Otherwise known as a pre-sue letter, this demands payment by the debtor within seven days. At this stage using databases we can also advise on whether or not your ultimate prospects of recovery are good or bad. It is not in anyone’s interest for you to put good money after bad. We find in a significant number of cases that recoveries can be effected at this stage without any further action.
If the matter requires to proceed to this stage our team are well placed to ensure that your court action is raised without any delay – experience has shown that the sooner you act in such situations, the better your prospects of recovery. If for any reason the action becomes defended, we have an experienced team of litigators to ensure your case is vigorously pursued. We will also advise you on certain actions that can be taken at the stage of raising court action including arrestment on the dependence which can have effect to effectively freeze funds in the hands of third parties to ensure their availability to ultimately satisfy your debt and inhibition on the dependence which would prevent a debtor from selling their house.
We can complete and serve statutory demands for payment of debt on both individual and company debtors. This is a formal demand in terms of the relevant insolvency rules and after twenty-one days, provided there is no denial, we would be in a position to raise formal insolvency proceedings against the debtors. In the case of an individual that would mean bankruptcy and with a company that would be a formal court liquidation. We can find this route to be effective and not just as a last resort.
Enforcement of Decree
Once a decree is obtained, we require to instruct diligence on your behalf. That involves instructing sheriff officers to carry out various stages of enforcement of your decree. We have close working relationships with a number of firms of sheriff officers locally and around Scotland and, with many years of experience in working closely with such firms, are able to advise you on your best options in terms of serving a charge for payment, instructing an attachment order or in the case of an individual an exceptional attachment order, arresting in the hands of third parties, bank and earnings arrestment and inhibitions which again ensure that a debtor’s property cannot be sold.
We have many years of experience in raising bankruptcy and liquidation proceedings against individual debtors and company debtors respectively. We can advise you on the procedures, what is involved and the prospects of recovery. We have created valuable working relationships with a number of insolvency practitioners and working with them are able to take such formal insolvency steps as are necessary in order to either force a debtor to produce the cash needed to pay off his debts or alternatively, go the whole hog and create a formal insolvency with a view towards a recovery by way of dividend.