{"id":5304,"date":"2023-09-07T07:36:08","date_gmt":"2023-09-07T07:36:08","guid":{"rendered":"https:\/\/simplylaw.waydevelopers.com\/england-wales\/?post_type=wiki&p=5304"},"modified":"2023-12-31T04:52:41","modified_gmt":"2023-12-31T04:52:41","slug":"debt-recovery-for-business","status":"publish","type":"guides","link":"https:\/\/simply.law\/england-wales\/guides\/debt-recovery-for-business\/","title":{"rendered":"Find a debt recovery solicitor for your business"},"content":{"rendered":"
\n
<\/metadata> <\/path> <\/path> <\/path> <\/path> <\/path> <\/polygon> <\/polygon> <\/rect> <\/rect> It is advisable to obtain credit status checks on debtors to ensure that debt recovery <\/tspan>action is worthwhile \u2013 there is no point in pursuing recovery of moneys owed if the <\/tspan>debtor is unable to pay. There are a number of ways a debtor\u2019s ability to pay can be <\/tspan>assessed; these include Companies House searches and bankruptcy checks.<\/tspan><\/text> <\/rect> Timeliness is essential to effective debt recovery so making contact with an Simply.Law <\/tspan>solicitor at the soonest available opportunity may be decisive to achieving a <\/tspan>positive outcome. <\/tspan>In short, if the debtor is having trouble paying you it is likely that it is experiencing <\/tspan>financial difficulties elsewhere which make it imperative you take action before it is <\/tspan>too late. Your debt recovery solicitor will seek to ensure that the debt owed you <\/tspan>becomes number one priority.<\/tspan><\/text> <\/rect> Seeking a Court Judgement is not always the best way to ensure debt recovery. The <\/tspan>one thing taking the debt through the courts will guarantee however is time and <\/tspan>expense.<\/tspan>Simply.Law\u2019s member solicitors look to utilise the most effective pre-court methods to <\/tspan>ensure recovery of the debt. However, robust action through the courts has its place <\/tspan>and, where appropriate, your debt recovery solicitor may decide this is the best course <\/tspan>of action for you.<\/tspan><\/text> <\/rect> Simply.Law\u2019s member debt recovery solicitors can help <\/tspan>a wide variety of clients including the following:<\/tspan><\/text> <\/rect> *Rocket Lawyer survey<\/text> <\/rect> *Federation of Small Businesses 2012<\/text> <\/g> <\/rect> <\/g> <\/path> <\/rect> WHY DEBTORS PAY LATE<\/text> <\/rect> <\/path> <\/rect> FIND A DEBT RECOVERY SOLICITOR TODAY<\/text> <\/rect> have customers who are more than <\/tspan>90 days late paying their debts*<\/tspan><\/text> <\/g> <\/rect> <\/path> <\/g> <\/rect> HELP AVAILABLE, WHATEVER YOUR BUSINESS <\/tspan>PROFILE OR CIRCUMSTANCES<\/tspan><\/text> <\/rect> <\/path> <\/g> <\/rect> INDUSTRIES MOST AFFECTED BY LATE\/NON <\/tspan>PAYMENT OF DEBTS<\/tspan><\/text> <\/rect> TIME-CRITICAL<\/text> <\/rect> CONSTRUCTION <\/tspan>COMPANIES<\/tspan><\/text> <\/g> <\/path> <\/path> <\/path> <\/g> <\/path> <\/path> <\/path> <\/g> <\/path> <\/path> <\/path> <\/g> <\/rect> RETAILERS<\/text> <\/g> <\/rect> RESTAURANT <\/tspan>OWNERS*<\/tspan><\/text> <\/g> <\/path> <\/rect> Is court the best option?<\/text> <\/rect> There are many possible measures which can be taken to ensure fulfilment of the debt <\/tspan>following a court judgement. These may include the following:<\/tspan><\/text> <\/path> <\/rect> What if court action fails to make good the debt?<\/text> <\/rect> There are four key components to an effective debt recovery service for business: <\/tspan>speed, simplicity, cost-effectiveness and reputational management.<\/tspan>In this section you’ll find specialist debt recovery solicitors who will be able to help you <\/tspan>ensure that your payment problems cause only minimum inconvenience. <\/tspan>If you are looking for reliable debt management with a variety of fee options available, <\/tspan>browse through Simply.Law member’s profiles today to find the solicitor who is right for <\/tspan>you, then we can put you in contact so that your case can be examined at the earliest <\/tspan>opportunity.<\/tspan><\/text> <\/path> <\/path> <\/path> <\/g> <\/rect> of businesses write off <\/tspan>bad debt each year<\/tspan><\/text> <\/g> <\/path> <\/path> <\/path> <\/g> <\/rect> Federation of Small Businesses <\/tspan>members polled in 2015 – <\/tspan>51% had experienced late <\/tspan>payment in the previous year<\/tspan><\/text> <\/path> <\/path> <\/path> <\/path> <\/path> <\/path> <\/rect> SMALL & MEDIUM SIZED <\/tspan>BUSINESSES<\/tspan><\/text> <\/rect> INVOICE FINANCE COMPANIES<\/text> <\/rect> ASSET-BASED FINANCE <\/tspan>COMPANIES<\/tspan><\/text> <\/rect> SOLE TRADERS<\/text> <\/rect> UNSECURED LENDERS<\/text> <\/rect> PURCHASER DEBT RECOVERY<\/text> <\/path> <\/path> <\/path> <\/path> <\/path> <\/path> <\/rect> STATUTORY DEMANDS<\/text> <\/g> <\/rect> BANKRUPTCY<\/text> <\/g> <\/rect> CRIMINAL INVESTIGATIONS<\/text> <\/g> <\/rect> WINDING UP PETITIONS<\/text> <\/g> <\/rect> ASSET INVESTIGATION<\/text> <\/g> <\/rect> BAILIFF SERVICES<\/text> <\/g> <\/polygon> <\/rect> CLOSED FOR BUSINESS<\/text> <\/g> <\/rect> 124,100 businesses reported <\/tspan>nearly having to cease trading <\/tspan>as a result of unpaid debts*<\/tspan><\/text> <\/g> <\/path> <\/g> <\/g> <\/path> <\/g> <\/path> <\/g> <\/g> <\/path> <\/g> <\/g> <\/g> <\/rect> <\/g> <\/path> <\/g> <\/g> <\/path> <\/g> <\/g> <\/polygon> <\/g> <\/path> <\/g> <\/path> <\/path> <\/g> <\/path> <\/g> <\/g> <\/path> <\/g> <\/g> <\/rect> Late payment by their own debtors<\/text> <\/path> <\/path> <\/path> <\/path> <\/path> <\/path> <\/rect> Invoicing issues<\/text> <\/rect> Bank financing problems<\/text> <\/rect> Cash flow shortage<\/text> <\/rect> Dissatisfaction with quality of work<\/text> <\/path> <\/path> <\/path> <\/g> <\/path> <\/path> <\/path> <\/path> <\/g> <\/path> <\/path> <\/path> <\/path> <\/g> <\/path> <\/path> <\/path> <\/path> <\/g> <\/path> <\/path> <\/path> <\/path> <\/g> <\/path> <\/path> <\/rect> Inadvertently forgot to pay<\/text> <\/rect> Time pressures*<\/text> <\/path> <\/path> <\/path> <\/path> <\/g> <\/path> <\/path> <\/path> <\/path> <\/g> <\/path> <\/path> <\/path> <\/path> <\/path> <\/path> <\/path> <\/path> <\/g> <\/path> <\/g> <\/path> <\/g> <\/rect> <\/g> <\/path> <\/g> <\/circle> <\/g> <\/circle> <\/g> <\/path> <\/g> <\/path> <\/g> <\/g> <\/path> <\/g> <\/rect> <\/g> <\/rect> <\/g> <\/path> <\/g> <\/path> <\/g> <\/g> <\/rect> <\/path> <\/rect> IS THE DEBT WORTH PURSUING?<\/text> <\/path> <\/rect> CLICK HERE TO DOWNLOAD THIS PAGE<\/text> <\/a> <\/path> <\/g> <\/g> <\/path> <\/g> <\/path> <\/g> <\/path> <\/g> <\/path> <\/g> <\/g> <\/path> <\/g> <\/path> <\/g> <\/path> <\/g> <\/g> <\/circle> <\/g> <\/path> <\/path> <\/g> <\/path> <\/path> <\/g> <\/svg><\/div>\n

Debt recovery can be difficult and time-consuming. Having an experienced and specialist debt recovery solicitor to do the work for you can prove invaluable in turning your debts into assets.<\/p>\n

Simply.Law members pride themselves on building ongoing relationships with clients while always ensuring that important relationships are preserved with the minimum of reputational damage. Browse through our member profiles today to find the debt recovery specialist that is right for you.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

It is advisable to obtain credit status checks on debtors to ensure that debt recovery action is worthwhile \u2013 there is no point in pursuing recovery of moneys owed if the debtor is unable to pay. There are a number of ways a debtor\u2019s ability to pay can be assessed; these include Companies House searches<\/p>\n","protected":false},"author":123,"featured_media":7969,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"_acf_changed":false,"_joinchat":[],"footnotes":""},"categories":[12354],"tags":[],"guides-category":[],"class_list":{"0":"post-5304","1":"guides","2":"type-guides","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-debt-recovery"},"acf":[],"yoast_head":"\nFind a debt recovery solicitor for your business - Simply Law England Wales<\/title>\n<meta name=\"description\" content=\"Explore our comprehensive collection of legal guides covering various topics to help you navigate the complexities of the law. 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