Ashwood Debt Recovery Service
We can clearly explain the legal issues surrounding debt recovery and provide you with expert advice tailored to your specific circumstances. Our legal team have the expertise and knowledge to handle debt recovery cases professionally and can give you advice, including the best course of action to take.
At Ashwood Solicitors, our debt recovery service can be tailored specifically to each client’s needs which include:
- Letter before action
- Issuing proceedings
- High court enforcement
- Third-party debt orders
- Statutory demands
- Winding up petitions
- Bankruptcy petitions
Our Commercial Debt Recovery Process
There are four main steps to follow when collecting a commercial debt, at Ashwood Solicitors, we have detailed it below to enable you to further understand the process.
- Step one is to send a Letter Before Action (LBA) to the debtor, according to a study 75% of cases end in settlement. However, if the matter is not settled and payment is not received, we then move to step two.
- The next step means issuing court proceedings to the debtor.
- The third step is where we obtain a County Court Judgement (CCJ) on the debtor.
- The fourth stage is the start of enforcement action; this could be insolvency or bankruptcy action against the debtor.
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