Every year, millions of businesses globally suffer immense financial losses because of customers who are unable to or refuse to pay what they owe. This can be seriously damaging to your business if the amounts owed are not recovered.
At Muldoon Britton we have helped many clients recover some or all of the monies owed to them. We have specialist debt recovery solicitors who have expertise and experience in debt recovery matters, for both large and smaller sums. We understand that debt recovery must be commercial and costs kept proportionate, therefore we are always willing to discuss flexible fee options with our clients. In many instances, the sight of a letter from a solicitor and the concern over debt recovery lawyer involvement is enough to urge your debtor to contact you and work with you on a repayment plan or pay up in full.
We understand the delicate nature of debt matters on both sides, and are able to work with both you and the debtor to come up with a solution that will see debts being repaid.
The Debt Recovery Process
It is standard practice for debt recovery lawyers to send your debtor what is known as a ‘letter before action’. Simply put, this is a letter of demand that the debt be repaid within a specified period. Whilst this often results in a dialogue between the parties to the dispute, in some instances further action is required.
in which case we will act on your behalf to recover those debts through the courts, all legal costs can be claimed for in addition to debts recovered. It is however important to note that if the debtor is in a distressed state and at risk of insolvency, there is a possibility that not all of the monies due will be recovered. As such, it is vital to instruct solicitors as soon as is reasonably practical.
Please contact us to discuss your debt recovery needs today.