Debt Recovery
Debt recovery is a matter likely to concern most businesses at some point in their trading life.
It is vital, to maximise cash flow and to ensure profitability, that all bad debts are pursued as quickly and efficiently as possible.
At Heptonstalls, we can advise you on the best Terms and Conditions to ensure that your business is protected, should you ever find yourself needing to chase debts. We can also give you advice to try and prevent debts from accruing in the first place.
The first thing we will do is investigate your debtor. It may be that a Company search or ‘Worth suing’ report should be obtained to ensure that any judgment which may subsequently be obtained can be satisfied. We would not advise you to incur costs in seeking a judgment against a debtor who clearly has no means of satisfying it.
If we receive no response to our 7 day Letter Before Action, we have procedures in place to ensure your claim is issued in your home court without delay. We will not enter into protracted correspondence with the debtor, unless of course a genuine dispute is alleged.
If court proceedings do prove necessary, we can advise you on your right to claim interest and compensation under the Late Payment of Commercial Debts (Interest) Act 1998 in order to maximise your judgment.
We believe it is imperative to collect in bad debts quickly. A debtor in financial difficulty is likely pay those who ‘shout first and shout loudest’.
Let Heptonstalls ‘shout’ on your behalf to allow you to free up time to do what you do best – run your business.
For more information regarding Debt Recovery, contact Hayley Garnett on: 01405 765661.
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