Debt Recovery – Remington & CO Solicitors

Debt recovery is one of the key services we offer to businesses. We understands the importance of cash flow and the impact that unpaid debts can have on a business. We work closely with our clients to develop tailored debt recovery strategies that are designed to recover debts quickly and efficiently.

Debt recovery is essential for businesses to maintain their financial stability and cash flow. It is important to take action as soon as possible when a debt becomes overdue to increase the chances of successful recovery.

Our Approach to Debt Recovery

Understanding the client’s needs

Our debt recovery team takes the time to understand our client’s business, the nature of the debt, and the debtor’s financial situation to develop a tailored debt recovery strategy.

Developing a tailored strategy

We recognize that every debt recovery case is different, and we develop a strategy that is tailored to the specific circumstances of each case.

Debt recovery approach

We use a range of legal tools, legal proceedings, and enforcement of judgments. We take an aggressive but ethical approach to debt recovery to ensure the best possible outcome for our clients.

Keeping clients informed and updated

We understand the importance of keeping our clients informed and updated throughout the debt recovery process. We provide regular updates on the progress of the case and advise on any developments or changes to the strategy.

Our Debt Recovery Process

Initial assessment and case review

At Remington & Co Solicitors, our debt recovery process begins with an initial assessment of the case. We take the time to understand our client’s business and the nature of the debt. We also review any relevant documentation and assess the debtor’s financial situation. Based on this information, we develop a debt recovery strategy that is tailored to the specific circumstances of the case.

Letter before action

If the debtor has not paid the outstanding debt after the initial assessment, we will send a letter before action. This letter outlines the outstanding debt, the legal action that will be taken if the debt is not paid, and the timeframe in which payment must be made. The letter before action is an important step in the debt recovery process as it gives the debtor an opportunity to pay the debt before legal action is taken.

Issuing legal proceedings

If the debt remains unpaid after the letter before action, we will commence legal proceedings against the debtor. We will advise on the most appropriate court to issue the claim and will prepare the necessary legal documents.

Once the claim has been issued, the debtor will have a limited period of time to respond. If the debtor does not respond, we will apply for a judgment in default. If the debtor disputes the claim, we will advise on the best course of action, which may include mediation or a court hearing.

Enforcement of judgments

If a judgment is obtained in our client’s favor, we will take steps to enforce the judgment. There are several enforcement options available, including:

Writ of Execution – this allows a sheriff to seize goods belonging to the debtor and sell them to recover the debt.

Attachment of earnings – this allows a portion of the debtor’s wages to be deducted to pay the debt.

Registration of a Writ- this secures the debt against the debtor’s property, which can be sold to recover the debt.

We will work on the most appropriate enforcement option based on the debtor’s financial circumstances.

Post-judgment recovery

Once the debt has been recovered, we will ensure that our client receives payment promptly. We will also provide advice on any further steps that can be taken to prevent similar debts from occurring in the future. Our debt recovery team will work closely with our clients to develop strategies to manage their credit control procedures and minimize the risk of future debts.