In an ideal world your invoices would be paid in full and on time, but we recognise that this is not always the case and that unpaid debts can affect cash flow and potentially your ability to pay your own creditors.
Our debt recovery team has a wealth of experience in recovering debts for clients of all sizes and across a range of sectors, and they work closely with our insolvency and litigation teams to ensure that debts are recovered as promptly and efficiently as possible.
The steps that we may take to recover debts include:
- Pre-action checks and tracing
- Letters before action (including demands for late payment interest and compensation)
- Issuing court proceedings
- Statutory demands, bankruptcy and winding-up petitions
We also appreciate that funding can often be an obstacle to collecting debts, which is why we can operate on a fixed fee basis or, in appropriate circumstances, a contingency basis without any upfront cost to you.
Prevention & Debt Avoidance
During the debt recovery process, we will also provide you with practical guidance on your credit control processes and reducing your bad debts generally. We can also carry out reviews of your terms and conditions to ensure that your customers are deterred from paying late and that your prospects of recovering debts, and the associated costs, are maximised.
We will advise on all methods of enforcement, which include insolvency proceedings, charging orders, attachment of earnings orders, third party debt orders and the instruction of High Court enforcement officers. We also work for High Court Enforcement Officers and are therefore able to assist even where any issues arise during the enforcement process.
We also have significant experience of enforcing judgments obtained in other jurisdictions (including from within and outside the EU/EEA), on behalf of banks and foreign governments amongst others. In addition, we work with our contacts in other jurisdictions to allow you to enforce English judgments as seamlessly and efficiently as possible.
If a debt is disputed, we draw on our extensive experience in dispute resolution to advise on the next steps and the costs involved.
Using winding-up petitions to recover debts
James Robbins, senior associate solicitor in Harrison Drury’s insolvency and business recovery team, looks at instances where it might be useful to consider a winding-up petition to recover a debt.…
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