Debt Recovery & Collections
Businesses in the UK are owed billions in unpaid invoices or late payments. A third of small businesses are forced to write off thousands of unpaid bills each year because they are reluctant to chase up late paying or no paying customers. At the heart of this reluctance lies a fear of instituting legal proceedings. However, with the correct solutions and support, the process needn’t be complicated, expensive or drawn out.
The first step in the Debt Recovery process is a Letter Before Action which is a stipulation of the civil procedure rules which governs legal proceedings in the UK. Statistics show that 70% of debtors pay back debt owed within 7 days of a letter before action being sent out, allowing you to improve your revenue stream even with aged debts.
From £25 per letter, you can instruct one of our expert debt recovery Solicitors to draft a letter to creditor requesting payment of the outstanding debt within 7 days. Click here to complete our easy to complete Instruction Form to get the process started today.
Bulk Debt Collections
If you need a commercial debt recovery service to help your business recover multiple debts, our debt recovery solicitors can offer a free initial telephone consultation, and if necessary, a visit to your premises to discuss how our business debt recovery can work for your company.
For volume business debt recovery instructions, we have a secure online service that allows you to monitor and report on any debt at the click of a button.
Hallmark Solicitors advise asset-based finance companies, invoice finance companies with debt recovery for unsecured lending and debt recovery for businesses across many sectors, with legal services including:
- Asset-based lending
- Attachment of earnings
- Debt recovery for purchasers
- Debt recovery for unsecured lenders
- Enforcement, including instruction of bailiffs
- International debt recovery
- Invoice finance
- Issuing proceedings and entering judgement
- Late payment of commercial debts
- Letter before action
- Statutory demands and bankruptcy petitions
- Winding-up petitions and charging orders
With our Head Office based in Hull and two Consulting Offices in London and Leeds we are easily accessible for consultations. Call us on 01482 616 616 or 0800 037 1305 to book a consultation to discuss your issues and requirements.
Would you like us to contact you to talk more about what we can offer you and your business? Please fill in your details below and an advisor will contact you within 24hours.