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Debt Recovery Insolvency Farleys Solicitors LLP

Debt Recovery Solicitors

Commercial Debt Recovery Advice From Farleys Solicitors

At Farleys, our debt recovery solicitors are dedicated to helping your business maintain a healthy cash flow, minimising the impact of any financial difficulties which often arise as a result of debtors defaulting on payments. With a wealth of experience behind us, we understand the importance of providing a fast and efficient service, and we take care to keep you in the loop at every stage as we assist you in recovering your debt.

Our expertise encompasses dealing with businesses of all sizes, as well as individuals, and we regularly provide cost-effective debt recovery services to clients throughout the UK, and in some instances worldwide, from our offices in the North West.

With debt recovery we know that there are no “one-size-fits-all” solutions, which is why we offer a range of different services to maximise our results for our clients. Our team of experienced solicitors will take the time to understand your business and the circumstances around the debt, using those initial conversations as a basis to provide tailored advice on the method of debt recovery we feel is most appropriate for your situation. We provide all our business clients with a single point of contact, so you can discuss the progress of your case, your legal position, and options, whenever you feel it necessary.

If you’re concerned that your business may be suffering due to debtors failing to make payments in time, or you’re simply interested in speaking to a specialist debt recovery solicitor, then please don’t hesitate to get in touch.

What does the debt recovery process involve?

From advice to action, we’ll always begin your case by sitting down with you for a detailed discussion, outlining the basics of the process and addressing any initial questions you might have, so that you then have the knowledge and information you need to set the optimal route of debt recovery in motion and track its progress throughout. Following this initial discussion, we’ll then proceed by writing to the debtor on your behalf to demand payment of the debt.

Depending on the debtor’s response, we will then have another conversation with you to explain the best way to move forward and recover your money. From court action to insolvency proceedings, at Farleys we have specialists in a range of different legal sectors that can provide you with in-depth advice. doing everything we can to see the process through to a desirable conclusion.

Various methods can be employed to aid successful recovery of your money, all of which are detailed in our debt recovery guide.

Guide to Debt Recovery

Debt Recovery – What Does it Cost?

Find out more about our fixed fees and other costs for debt recovery

Our Fees

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Contact a Debt Recovery Solicitor

We are confident that we can provide you with the service you need. Each case however is different so for free initial advice on the best way to start debt recovery proceedings, call Farleys Solicitors now on 01254606008 or email us. Our lawyers specialise in helping both large and small businesses recover the money they are owed.

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Frequently Asked Questions About Commercial Debt Recovery

What is a statutory demand?

A statutory demand, sometimes referred to as a statutory notice or statutory letter, is a written warning from a creditor to a debtor, which demands that an unpaid debt be paid or the creditor and debtor reach an agreement over the debt within 21 days. If the debtor ignores this demand, or if their response is deemed to be less than satisfactory, the creditor may then choose to proceed with further debt recovery actions, up to and potentially including bankruptcy or a winding-up petition.

How should I prepare for a debt recovery court case?

It’s generally a good idea to first reach out to your debtor on an informal basis, and attempt to come to an informal agreement. Lots of debt recovery cases stem from simple cashflow issues, and these can sometimes be resolved without resorting to legal action.

However, if these discussions break down, or you have good reason to believe that you’re unlikely to recoup a particularly significant debt, it’s best to prepare by collecting as much written evidence as possible, starting with the paperwork or a breakdown of the discussions leading to the relationship and the debt beginning to arise, and any written communication that demonstrates you tried to resolve the dispute. The communications can also prove useful in helping your debt recovery solicitor to understand the history of the dispute, and strengthens your negotiating position. Examples of evidence can include texts, letters, emails, instant messages, and photos.

How long will a debt recovery action take?

This depends on the nature and specifics of your case, and particularly comes down to the conduct and financial position of the debtor, but it’s not unusual for cases to take months to be properly resolved, and in some cases it can even take years. This is just one reason why it’s so important to carefully consider and get the most well-informed, practical, and business minded legal advice at the outset whether it’s worth pursuing legal action to recover your debt, as you may be in for the long haul. However, rest assured that if that’s the case, you can count on our experts here at Farleys to be with you every step of the way.

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