Laura Tomlin, Solicitor, Debt Recovery

Document and communicate – collect as much information as possible relating to the debt. This includes debtor details, circumstances surrounding debt and any terms and conditions. All communication should be clear, precise and documented at all times – for example, follow up a telephone call with an email.

Move quickly – look to instruct a specialist as soon as possible for efficient recovery. Internal recovery may waste valuable time and adversely affect recovery attempts if not carried out correctly.

Reflect – prevention is always better than cure. Review internal recovery procedures you may have in place and any terms and conditions to reduce outstanding debts.

How much will I pay?

Each case is different – costs ordinarily depend on the value of the debt and whether it is in dispute. However, full cost advice is provided at the start of the procedure and throughout.

Can I recover compensation?

You may be entitled to interest, fixed and reasonable recovery costs depending on the type of debt.

What if the debtor refuses to pay?

If this is due to a disagreement, we can look to encourage direct contact and negotiation to satisfy both parties. Should the disagreement not be settled, we can look to issue proceedings for a judge to decide the outcome. If the refusal is due to a claim they are unable to afford to settle the debt, advice can be provided depending on the value of the debt to find the best solution for everyone. This may be a payment plan or securing the debt against an asset to secure recovery.