How can solicitors help you recover a debt?
If a debt is owed to you, then you are a Creditor. Our debt solicitors can discuss with you the best way to try and obtain payment for the debts owed to you. We can provide practical help through the debt recovery process, whatever your situation.
We will provide clear advice on all the factors to consider when pursuing repayment of a debt and will often provide funding options based on the amount of the Debt and whether it is likely to be disputed by the Debtor.
Factors our Debt recovery specialists consider in the assessment include:
- Whether legal costs will be recoverable as part of any claim. Typically legal costs of representation are only recoverable if the Debt is over the Small Claims limit of £10,000.
- Debt recovery options such as a letter of claim, statutory demand, Court proceedings.
- If the Debtor is in financial difficulty and incurring legal costs of Court action and securing a Judgment may not result in the Debt being repaid as the Debtor has no assets against which recovery can be made.
- If there is a possible dispute in relation to the Debt or a possible Counterclaim.
- How the Debt arose, and what terms were agreed upon as regards repayment.