The debt recovery process can be complicated and stressful to navigate. Our commercial debt recovery solicitors in Romford, Essex, are here to make things quicker, less stressful and more cost-effective.
At F Barnes, our dedicated debt recovery team can provide seasoned support for all manner of business debts. With our expertise, we can help to achieve a swift and successful resolution, often without the need for court proceedings.
Our business debt recovery solicitors have particular expertise in dealing with unpaid invoices and the associated issues that can arise when your debtor is a valued customer or client. We can advise and guide you through all the steps necessary to recover your debts and get your invoices paid.
Please note: due to the bespoke nature of our service, we are unable to advise on debts under £10,000.
Our commercial debt recovery services include:
- Drafting and sending a Letter Before Action (LBA) to chase the debt
- Pre-action debt recovery
- Debt recovery through the courts
- Debt enforcement
What our commercial debt recovery solicitors can offer you:
We believe in offering our clients a high level of bespoke advice and attention, so we are selective about the work we take on. Our debt recovery experts take a tailored approach to support the outcome you want to achieve, including where tact is a priority or more forceful action is required.
Our Managing Director Tiina Juhanson and Litigation specialist Niroshan David have extensive experience supporting businesses with debt recovery. While most debts can be recovered without court action, we have the expertise to make court debt recovery as stress-free as possible.
Contact our commercial debt recovery solicitors in Essex
You can contact us during our office hours of 9am-5pm at your local branch in Romford, Gidea Park or Collier Row by giving us a call on:
- Romford – 01708 745183
- Gidea Park – 01708 333711
- Collier Row – 01708 743727
Alternatively, contact us at any hour of the day by filling in our online enquiry form, and we will get in touch.
We endeavour to return all enquiries the same or the next working day, and you will be able to speak to someone within our commercial debt recovery team straightaway.
Our business debt recovery process
Letter before action (LBA)
The initial stage in the debt recovery process is writing a Letter Before Action or LBA, which is a formal letter requesting the payment of the outstanding debt owed to you. In our experience, an LBA can be one of the best ways of getting your debts paid promptly without needing to take any further action.
There is no fixed format for an LBA, but it will usually include details such as:
- Information and details about the debtors
- A summary and timeline of facts
- The value of the debt being claimed
- The overdue nature of the debt
- Details of any interest or charges
- Copies of any relevant documents such as invoices, purchase orders or contracts
- Details of how and when the debtor needs to pay
- A statement that court action will follow if payment is not made within 7 days
Pre-action debt recovery
In England & Wales, there is a formal procedure for debt collection. As court proceedings are considered a last resort, courts will expect you to comply with the required protocols to settle your dispute in a reasonable and prompt manner without causing any unnecessary, lengthy and costly litigation.
The aim of pre-action debt recovery is to agree on a way for the debt to be repaid without court proceedings where possible. This might rely on using Alternative Dispute Resolution (ADR) methods such as mediation to reach a settlement.
Pre-action debt recovery can be much faster and more cost-effective than court proceedings, as well as helping to keep the relationship between the debtor and yourself more amicable.
Debt recovery through the courts
If you need to initiate court proceedings, you will need to make an application to the court, which will then serve the claim form on the debtor, allowing 2 days for them to receive it.
The debtor will then have 14 days to either:
- Pay the debt
- Admit the debt and offer a payment plan
- Negotiate to settle the debt
- File a defence
- File an acknowledgement of service
If there is no immediate solution, then further court proceedings may be needed, including seeking a County Court Judgement (CCJ) against the debtor.
Our debt recovery solicitors can advise and represent you through every stage of pursuing a claim through the courts, giving you the best chance of securing the outcome you need.
Debt enforcement
If you have secured a CCJ and the debtor still refuses to pay the judgement debt, we will be able to discuss the various options available to you to compel them to pay, which could include:
- Third Party Debt Orders – which allows you to freeze a debtor’s funds
- A Charging Order – which secures the debt against a debtor’s property
- An Attachment of Earnings Order – to redirect a debtor’s wage income to pay the debt
- A Warrant of Control – for bailiffs to take control of debtor’s possessions
Other options which may be applicable to your case include:
- An order for the debtor to provide financial information in court
- A Final Charging Order to enforce the sale of property
Our debt recovery fees
Our business debt recovery solicitors are able to offer an efficient and affordable debt collection service at competitive rates.
The exact debt collection costs will depend upon where you are in the recovery process, the value of the debt and whether you need pre-action steps, court proceedings or enforcement action – resolving disputes early will stop costs from escalating.
The good news is, in most cases, debts can be settled before court action, which is the best way of keeping your recovery costs and timescales to a minimum.
We are happy to discuss with you the likely cost of getting our help and advice. For debt recovery matters. We will always advise you on the balance between the likely cost of chasing money against the amount of money that is owed to you.
We will not take any step that will incur a cost to you without your prior consent and will always aim to keep costs to a minimum. Certain costs may be recoverable from your debtor, provided they make payment in full.
Read more about our debt recovery pricing.
Contact our commercial debt recovery solicitors in Essex
You can contact us during our office hours of 9am-5pm at your local branch in Romford, Gidea Park or Collier Row by giving us a call on:
- Romford – 01708 745183
- Gidea Park – 01708 333711
- Collier Row – 01708 743727
Alternatively, contact us at any hour of the day by filling in our online enquiry form, and we will get in touch.
We endeavour to return all enquiries the same or the next working day, and you will be able to speak to someone within our commercial debt recovery team straightaway.