Debt Recovery
DEBT RECOVERY SOLICITORS ISLINGTON
What is debt recovery?
If you run a business then it is crucial to keep on top of your cashflow. Your cash is the lifeline of your business and it needs to be in your bank account, not your customers.
Debt recovery is a service offered to businesses and individuals to help recover money which they are owed. Unpaid bills can cause many problems for the business owner. Unpaid invoices can affect your sales, profit margin, and most importantly, cash flow.
The solicitor is often viewed as only having a role at the last stage of the debt recovery process. However this underestimates their capabilities. Islington solicitors are able to offer advice on credit control and debt management procedures from the outset. This ensures fewer debts become bad debts which is good for your business.
Basics of debt recovery
We review each case on individual basis and assess the likelihood of success when deciding what course of action to take. The chosen method of action will depend on the amount of debt, the feasibility of recovering costs and the profile and credit worthiness of the debtor.
Our actions include the following:
- Telephone calls and letters
- Warnings and subsequent data exchange with Credit Reference Bureaus
- Investigations of the debtor for any assets
- Statutory Demands towards the petitioning for a winding up order
- using enquiry agents to trace absconded debtors.
Why use us?
Islington Solicitors are a leading debt collection agency and provider of outsourced credit control service. We use the most effective methods of debt collection to ensure payment takes place as swiftly as possible. Islington solicitors are highly experienced debt collectors and always use the latest collection methods. Our state of the art procedures allow us to tailor a bespoke recovery program to suit you. Islington solicitors are able to offer the efficiency and perseverance of a debt collection agency together with the skills of an experienced legal team. Our collection techniques will improve your cash flow which in turn will help your business. We will keep you informed of each stage of the recovery process and provide services that will enhance your businesses economic activity.
Conclusion
If you have a problematic client or numerous bad debts please do not hesitate to contact us.