Do you need help to recover a debt?
Do you or your business have a problem with late payers? We understand that bad debts can have a devastating effect on your cash flow. We have a streamlined procedure for the recovery of bad debts and have successfully recovered many hundreds of thousands of pounds for businesses from all sectors.
We have many repeat clients in Barnstaple and throughout North Devon where we are based, as well as all over the South West and beyond.
Our debt recovery system
We offer a “No Recovery, No Fee” service to all of our clients. If you want a free solicitors' letter to be sent on your behalf, then we can help. This is how it works:
Firstly, after you have instructed us, we send a free demand letter to the person who owes you money, demanding that they pay the sums owed to you within seven days. You do not have to pay for this letter to be sent, when you first instruct us.
Secondly, if your debtor does not pay as a result of the demand letter, you can decide to take no further action, and you do not have to pay us anything. If you want to take further steps, these are set out under the next heading below.
Finally, if your debtor pays up in response to our letter (and in our experience, around 90% of them do), a small charge is payable by you for our services, which we will have agreed with you in advance.
What if a debtor still won't pay?
If we have sent a demand letter, and your debtor has not paid, we can advise you about the further steps you can take to seek to recover your debt.
We will always discuss the risks and benefits of your options with you at the outset, to allow you to make informed, commercial decisions about how you proceed. This will include an analysis of the funding options available to you, if you do not have the funds available to pay our fees yourself.
Can I charge interest on my unpaid debts?
We will advise you about the operation of your statutory rights when collecting debts, such as those under the Late Payment of Commercial Debts (Interest) Act 1998, which allows businesses to charge each other interest at 8% plus the Bank of England base rate, after an initial 30 day period has elapsed.
Many people do not know that you are also entitled to compensation arising out of late payment of debts, ranging from £40 for debts up to £999, to £100 for debts of £10,000 or more and we will advise you about how to claim this.
I have a judgment but my debtor still won't pay
Perhaps you have already obtained a Court judgment, but your debtor will still not pay. In these frustrating circumstances, we can advise you about the most appropriate method of debt recovery for you, such as placing a legal charge on property owned by the debtor and then seeking possession and sale of the property, intercepting money the debtor might be paying to a third party, or seizing goods belonging to the debtor, to the equivalent value of your judgment debt.
Our experienced dispute resolution team understand how important it is to secure payment of debts quickly and cost effectively, and so we will always consider flexible funding arrangements with you.
What shall I do next?
If your customers are not paying, and you need a solicitor to chase your bad debts quickly and cost effectively, we can help.
Contact us for your free legal assessment of any debt recovery matter, and to discuss how we can assist you and your business.
Rebecca has recovered significant levels of debt for many clients, quickly and cost-effectively.
What our clients say
We have instructed Samuels several times to carry out debt recovery work for our company, and on every occasion we have secured payment by return. Samuels' debt recovery team provide an excellent service. They are always available, they act extremely promptly and provide excellent value for money. We would recommend them to anyone.
Nick Acton, NGA Electrical