Providing quick and efficient debt recovery services anywhere in the UK
How to recover money that is owed to you?
When should I consider debt recovery?
If your customer is refusing to pay and ignoring all efforts to make a settlement you should consider using debt recovery as soon as possible. This is because the reason they have not paid you could be that they are insignificant financial difficulty and due to this they are not able to pay their other suppliers either. If you wait with the debt recovery other suppliers might use the debt recovery and get all the money the customer has.
What are the benefits of using Bravo Investigations & Enforcement in debt recovery?
In some cases, just a contact from an enforcement agent (bailiff) can be enough to make the debtors pay what they owe. Furthermore, we can make an investigation into the debtor’s financial status and their solvency, that way you can know if they are able to pay off your debt. In case they are not able to pay you could write off the debt and claim a tax relief rather than paying Court and solicitors fees.
What is the process for debt recovery?
- You should first invoice your client as normal.
- If you don’t get paid by a client, then you should begin a process of chasing up the invoice. You could send your client additional emails or make phone calls to remind them that they need to pay you for the work you’ve done for them.
- Send your client a final notice. This is a last piece of correspondence you should send to your client before escalating the matter further. This notice should highlight a payment deadline to settle any debt before pursuing legal action against them.
- If the client does not pay after the payment deadline you should pursue legal action against them. Depending on the amount owed, you have two options: small claims court and debt collection.
- The small claims court will mediate between you and your client and reach a conclusion. If you win, the client will have to repay any debt and interests, as well as any fees caused by the legal action.
- Another option is to hire a debt collection agency such as Bravo Investigations & Enforcement. We can liaise on your behalf or help you enforce any decision made in court.
For all your debt recovery requirements contact our office today on 0208 123 9239.