Commercial Debt Recovery
For business to business debt collection you are helped by the late payment legislation. This provided a statutory right to interest for late payment for small business since 1998 from large firms and the public sector, and from small firms since 2002.
Amended late payment legislation came into force on 16 March 2013, implementing European Directive 2011/7/EU on combating late payment in commercial transactions.
The new rules are simple - debtors will be forced to pay interest and reimburse the reasonable recovery costs of the creditor, if they do not pay for goods and services on time (60 days for business and 30 days for public authorities).
Where a debt is owed and the business has not responded to reminders and collection letters a fast solution is required. Picture a Certificated Enforcement Agent (Bailiff) walking into the reception of the debtor company and politely demanding to speak with a director or senior manager.
The sight of a uniformed bailiff would certainly have impact. Once they get to speak to the most senior person available they can ask for the immediate settlement of the debt. At this stage they are not able to enforce any payment without a writ or a warrant.
If payment is not received the bailiff will serve a letter before action giving 7 days notice of a claim being issued.
The bailiff will attempt to take photographs of any assets or vehicles present which will provide evidence of assets should the debtor fail to make payment within the 7 days.
The bailiff will also confirm the business is trading and attempt to gain any useful pre ligation information.
On the rare occasions these methods do not work to recover your debts we can via our panel of highly experienced solicitors go legal with the debt, taking it through to judgment then going on to use our Enforcement division to enforce and recover your money.
What happens after I instruct you ?
Once your instruction request is received the following will happen:
- One of our team checks what your requirements are.
- We check the fee is agreed.
- Your case is loaded onto our online management system.
- The system emails you confirmation of your instruction.
Instructions received outside of business hours are dealt with the next business day.
- One of the team will allocate the case to a case manager
- The case manager will determine the next process and add it to the case management system.
- As actions are completed the case management system is updated.
- When payment is received we deduct our fee and transfer the balance to you.
If the debtor does not pay we will discuss further options with you:
- Undertake a door-step visit.
- Commence legal proceedings.
We discuss with you the options available, and keep you informed of the progress.
Use Quality Bailiffs
- No collection no fee (when no legal action)
- Legal Action available when required
- Same day service
- On line reporting
- Managed commercial debt recovery service
- Instruction of other professionals when required
- Local Enforcement agents across England & Wales