Debt Recovery
Our debt recovery team here at SDK Law specialise in getting back what is yours. Unpaid invoices and debts can seriously hinder cash flow to your business and became a drain on time and resources. The vast majority of business owners do not have the expertise internally to enforce payment.
Litigation Areas
It all begins with a letter outlining the request for payment and the outstanding debt. Often payment is made upon receipt of this in up to 86% of cases. However if the letter before action is not acknowledged and the debt remains outstanding usually after 7 days you can then request to action court proceedings to recover the outstanding amount.
Once legal proceedings are issued through the county court, the debtor will receive a form requiring them to pay the outstanding debt plus court costs and interest within 14 days.
Next Steps
If this still does not result in payment then you can apply to the courts for a judgment against the debtor.
This is a CCJ, this is the final design granted by the courts allowing you the ability to action enforcement to recover monies owed. A CCJ will have negative impact on the debtor’s credit rating and their ability to obtain credit in the future.
Our team at SDK Law are experts in a variety of enforcement techniques and can advise on the best options available to recover your commercial debt.