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Outstanding invoices and other debts can be really harmful for a business. You could find yourself short of cash for your day-to-day operations, struggling to pay your own debts or even at risk of insolvency if bad debts cannot be resolved swiftly.
On top of this, there is the time, effort and frustration involved in chasing debts when you would rather be focusing on running your business. Working with specialist debt recovery experts is often the smart choice.
At Roythornes Solicitors, our debt recovery solicitors in Birmingham can take over the time-consuming and stressful process of chasing bad debts for you. With our experience, we are typically able to recover debts much faster and more cost-effectively than businesses can themselves.
With our quick and efficient processes for recovering commercial debts, we can unlock vital capital for your business, including securing interest and costs where applicable. Our expertise includes volume debt recovery.
Cost-effectiveness is at the heart of our service. Our fee structure is based upon fixed recoverable charges, so you know exactly what our help will cost at the outset. Often, our fees are recoverable from the debtor, making things even easier for you.
We can also empower you to be more effective in managing credit going forward, reducing the risk of future bad debts. Our experts can review your in-house credit control procedures and advise you on any improvements you can implement to make your processes better.
To discuss how our debt recovery solicitors can help you, please contact our Birmingham office.
Our debt recovery solicitors in Birmingham can assist with matters including:
- Fixed fee debt recovery
- Volume debt recovery
- International debt recovery
- Court proceedings to recover business debts
- Debt enforcement
- Advice on improving credit control processes
Benefits of using our specialist debt recovery lawyers
- Recover debts faster
- Free up your time to focus on running your business
- Fixed fees so you always know the costs involved
- Many of our costs are recoverable from the debtor
Our business debt recovery services
Fixed fee business debt recovery
Very often, a debtor will make swift payment if they know that a reputable firm of solicitors is involved in chasing an invoice or other unpaid sum. This shows that you are serious about recovering the money owed and can incentivise the debtor to prioritise paying you over other debts they may owe.
Our specialist debt lawyers offer fixed fee Solicitors Demand Letters which set out the debt owed and when it must be repaid to avoid further action. We have a very high success rate with these letters and this can be a highly cost-effective solution for many debt situations.
Volume debt recovery
Where you are owed money by a large number of individuals or organisations, chasing the debts can be an administrative nightmare. However, there can also be the potential to unlock a lot of capital if these debts can be resolved.
Our commercial debt recovery solicitors are experts in volume debt recovery. We have developed a highly efficient, streamlined debt recovery process for situations involving multiple debtors. As such, we can take swift action to unlock outstanding payments from many different people at once, adding substantially to your cashflow in a short period of time.
International debt recovery
In situations involving debts owed by individuals or companies in another country, getting the right expertise in your corner can be especially beneficial. Debt recovery law varies from country to country and knowing how to navigate different jurisdictions can be particularly challenging. For this reason, working with specialists in international debt recovery is highly recommended.
Our team will be happy to advise you on your options for international debt recovery, then support you with taking firm action. Our goal is to ensure that you can effectively recover the money you are owed, no matter where the debtor is based.
Court proceedings to recover business debts
While most debts can be recovered without the need for court proceedings, sometimes there is no alternative. It is important to fully understand what is involved, including the time and cost you will likely need to invest to make sure the debt is truly worth it. Having the right legal team behind you is, of course, also very important.
Our commercial debt recovery solicitors can support you through all stages of court proceedings. This includes submitting a claim form, making sure the debt is properly evidenced and representing you in court if a hearing is required. With our experience, we can give you the best chance of securing an outstanding debt in court.
Debt enforcement
Unfortunately, even where a court affirms that a debt is owed and orders it to be paid, this does not always mean payment will be forthcoming. Sometimes, further action will be needed to secure the outstanding amount.
We can advise you on the enforcement actions you may be able to take and make the necessary court applications on your behalf. This includes steps such as applying for County Court Judgments (CCJs) against a debtor and options such as Attachment of Earnings Orders that allow payments to be deducted from an individual’s wages.
Advice on improving credit control processes
Many bad debt situations can be avoided through effective credit control processes. This is something that a lot of businesses struggle with, so seeking expert advice can be a sensible choice.
We can review your existing credit control processes and identify any areas for improvement. By empowering you with more effective processes, we can help you to avoid late payments and reduce the risk of future bad debts.
Our commercial debt recovery solicitors’ fees
We understand that the legal costs associated with recovering a debt must be proportionate to the amount owed. To give complete transparency over our costs, we typically work according to fixed fees for specific services, so you know upfront what you are committing to.
We will discuss the costs involved with recovering a debt in your initial consultation with our team, so you know exactly what to expect. Should any additional costs be required to deal with the matter, these will be discussed and agreed before any billable work is undertaken.
Wherever possible, we will seek to recover our fees from the party or parties that owe you money. This means that, in many cases, there will be no cost to you for recovering a debt with our specialist debt solicitors.
For more information about the cost of commercial debt recovery, please take a look at our debt recovery pricing or get in touch and we will be happy to advise you.
Why choose Roythornes’ debt recovery solicitors in Birmingham?
Our business debt recovery solicitors have a very high level of experience, covering both straightforward and highly challenging situations. As such, we can provide tried-and-tested expertise for any circumstances you may be facing.
Drawing on their extensive experience, the team can ably assist with recovering debts both in and out of court.
Where enforcement action is required, we can help to secure court judgments and take any additional action needed to ensure debts can be repaid.
Our debt recovery solicitors can advise you by phone, via email or through video conferencing for your convenience. We can also visit you at your business premises where appropriate.
In addition to our Birmingham office, we have offices in Alconbury, Nottingham, Peterborough and Spalding, allowing us to offer debt recovery support across the country.
Get in touch with our debt recovery solicitors in Birmingham
For fast, expert help to recover business debts in Birmingham and the surrounding area, please contact our Birmingham office.
