Taking legal action to reclaim a debt should be a last resort, and often the threat of doing so is enough to make your customers pay you. However, if your company’s usual ways of recovering debt have failed, there are things to consider before beginning the legal process.
The court often expects your company to make an effort to sort out your dispute with the other party before your company take legal action. This means that court action only takes place after your company have tried to reach an agreement with the customer.
- Choosing a solicitor
Finding a solicitor can be a challenge, and often a personal recommendation is a good way to choose. Before you make a decision, ask the following questions:
Is there any firm specialising in debt recovery?
Does the firm have a mediator or dispute resolution service that you can consider as an alternative option?
How will you be charged – rate per hour plus expenses or a percentage of the sum recovered?
If they do business on a ‘no win, no fee’ basis, are there any hidden costs? Will you have to pay court costs?
- What Nguyen Tran and Partners Law firmdo
Our recoveries team provides a one stop shop from ad-hoc initial advice through to judgments and enforcement. We undertake all methods of enforcement including charging orders and insolvency action. The team provides commercial advice at every stage of the litigation procedure.
- Our fee
We have a variety of reasonable fee packages for volume work and will discuss individual requirements. A one size fits all approach is not applied as each case is handled on its own merits.
If you would like further information on how our firm can assist you in addressing our Debt recovery litigation issues, please either email to us at: email@example.com