What We Do
Your matter will be dealt with by a fully qualified solicitor who will assess the merits of your claim and the probability of making a recovery against the likely costs involved.
Initially, we will get to know your business requirements and then investigate the prospects of successfully recovering the monies owed. We always take a pragmatic and commercial approach in the recovery of debts.
It may be in your best interests to attempt to negotiate a settlement through mediation and the courts may look unfavourably on any party who refuses to mediate. We can represent you through mediation and provide expert guidance and evaluation of any proposed settlement plans.
Debt recovery litigation for businesses
Before commencing debt recovery litigation you will need to contact the debtor to inform them of the issues and your intention to seek recovery of the monies owed. Depending on the type of debtor owing you money there are different rules and pre-action protocols which must be adhered to.
In most cases, you will need to start the debt recovery process by sending the debtor a formal letter before action. Wellers can draft this letter – there is a fee of £500 plus VAT for this service.
We will assess the situation fully and provide guidance on the most appropriate course of action. Debt recovery-related solutions for businesses and commercial clients include the following:
- Obtaining judgments
- Enforcing judgments
- Bankruptcy and winding-up procedures
- Asset reports
- Company check reports
- Data enhancement
- Debt recovery
- Letters before action
- Legal proceedings
- Trace reports
Wellers’ experienced solicitors conduct debt recovery litigation and enforcement through a number of methods including charging orders, orders for sale, third-party debt orders, attachment of earnings orders, freezing injunctions, and the instruction of bailiffs. We will work with debt collection agencies to secure the recovery of your money.
Click here for information on our fees for debt recovery services.
How long does it take to recover a commercial debt?
In many cases, it will be quickest to attempt to settle the debt recovery without litigation and we typically find this route to be between 2 and 12 weeks. Non-litigation methods are also likely to be more cost-effective. However, if the debtor refuses to pay and pursuing the case through the County Court is the last option available, it could be several months before the date of hearing.
As a rule of thumb, the more complex the case, the longer it will take for a court to make a ruling. And, of course, there are no guarantees that the court will rule in your favour. You may have to pay the other party’s costs if you lose your claim.
Contact Wellers today for commercial debt recovery solutions
Your debt recovery matters will be handled by a fully qualified solicitor with high levels of litigation and dispute resolution experience, including debt recovery and enforcement. All our solicitors are supervised by Partners or Heads of Department.
We have offices in London and the South East but are able to act in your interests wherever you are in the UK.
To find out more, please contact:
|020 7481 6383
|01372 750 109
|01732 457 575