Dealing with slow or non-payers is a necessary part of business life. When customers or clients won’t or can’t meet your payment expectations, there can be serious knock-on effects. Good cash flow management is about knowing when and how to tackle issues – and that’s where we can help.
Commercial Debt Recovery
Our dispute resolution lawyers support businesses through the debt recovery process, from one-off missed payments, to regular instances of lateness. We’ll judge the situation carefully, advising you on the best way of getting your money and, where it’s important to you, maintaining good business relationships with debtors.
We are experienced in taking formal action to force payment and, where there are insolvency issues, getting you in the best possible position to recovery some or all of what you are owed.
We’re quick and efficient, chasing lingering and accumulating debts sensibly and with a careful eye on the commercial realities.
Our business debt recovery services
If your business is owed a debt, there are various options we can use to recover the money owed as quickly and cost-effectively as possible with minimum hassle for you.
Many outstanding payments can be recovered quickly and simply once our solicitors become involved. In many cases, a solicitor’s letter setting out the amount owed and explaining that further action will be taken if the money is not paid promptly is enough to resolve the situation without causing unnecessary conflict.
If informal action does not succeed in recovering the debt, we can then initiate court action. This normally involves submitting a claim to the relevant court, setting out how much is owed, what the debt relates to and who the debtor is. We can also add interest to the claim and a contribution towards your legal costs.
The court will then contact the debtor and give them 14 days to either make payment or dispute your claim. If the debtor chooses to dispute the claim, they will be required to submit a defence within another 14 days. There will then be a court hearing where we can represent you, ensuring your claim is effectively presented.
County Court Judgements (CCJs)
If the debtor does not make payment and fails to make a successful defence against the claim, the court can issue a County Court Judgement (CCJ) against them. This will state the amount owed and give the debtor a deadline to repay. This deadline is usually one month from the time the CCJ is issued.
If they do not make payment within the deadline, the CCJ will appear on their credit record for the next 6 years. This can make it very difficult for them to borrow money in future, the threat of which will usually prompt even the most reluctant people to pay their debt.
If a CCJ has been issued and the outstanding debt has still not be paid, there are various enforcement actions we can apply to a court for, including:
Warrant of Execution – Gives a court-appointed bailiff the power to visit the debtor, demand payment and seize goods up to the value of the debt.
Charging Order – Attaches a charge to the debtor’s property, so if it is sold or remortgaged the money raised must be used to repay the debt.
Order of Sale – Forces the debtor to sell their property to repay the debt.
Attachment of Earnings Order – Can be used to compel a debtor’s employer to deduct money from their salary to repay the debt.
Why choose Henriques Griffiths’ commercial debt recovery solicitors?
Our lawyers have been helping businesses to recover outstanding debts since 1973, giving us decades of experience to draw on so we can find the fastest, most cost-effective way to secure payment under even the most challenging circumstances.
We work with clients of all sizes from a wide range of sectors, providing a reliable, personal service for your business. We have strong connections throughout the local community, meaning where additional expertise or services are needed, we can quickly access the support you need.
With our experience, knowledge and non-confrontational dispute resolution skills, we can help recover debts faster and at lower cost, while preserving your key business relationships wherever possible.
Henriques Griffiths is Lexcel accredited by the Law Society for our excellent practice management and client care. We are regulated by the Solicitors Regulation Authority (SRA) providing assurance that we continually meet the highest legal and professional standards.
Get in touch with our commercial debt recovery solicitors
For help recovering outstanding payments for your business, please call us on 0117 909 4000 or use the links below to make an enquiry or request a call back.