Finances are the lifeline of any business and therefore any debt owed to the business is not only a distraction for those running the business but can also have catastrophic effects preventing the business from expanding due to the lack of cash flow.
Unpaid debts are usually the reason why most businesses don’t reach their potential and is a major reason why a lot of businesses fold or go bust. Therefore, implementing a solution whereby not only does the business recover unpaid debts quickly, but also recovers the debt in a cost effective manner can be vital and the difference between a business expanding as opposed to shrinking.
Our debt recovery team is supported by and work alongside our litigation specialists who are ready to litigate when required without any delay or interruption.
We also understand that funding litigation or instructing a Solicitor can be a major hurdle for businesses especially when your cash flow has already suffered as a result of unpaid debt. We can in those circumstances provide you with various funding solutions to enable you to recover the money that is due without it further effecting the running of your business.
Whether you are a large corporate, an asset based finance company or a small or medium sized enterprise (SME) Avisons are there to assist and to remove the burden of debt recovery.
The services we provide are:
- Debt recovery for business
- Debt recovery for private individuals
- Debt recovery for financiers
What will it cost:
We can tailor you a quote to make it easy to understand or we can provide you with a fixed fee service if that is what you prefer. If you prefer the fixed fee option then our team can provide you this depending on what stage we are instructed and depending on which stage the debt is recovered.
In a typical transaction you would expect the following work at various stages of the litigation process:
- Pre-litigation stage – This will include writing a letter, telephone debt collection, and providing you with a trace and collect service via a third party agent that we regularly use
- Litigation stage - including County Court proceedings, mediation services, negotiation and advocacy
- Enforcement stage – including applications for attachment of earnings, high court writs, the instruction of a debt collection agency
- Payment agreements including instalment monitoring, chasing defaults and regular instalment assessments
- Insolvency action including bankruptcy, winding up, advice on debtor’s petitions, Individual Voluntary Agreements (IVAs), Company Voluntary Agreements (CVAs) and post insolvency trustee liaison
If you are simply considering your options, we are always happy to discuss your matter and provide you with general debt recovery advice including Pre-Action Protocol for Debt Claims compliance and process review.