Debt Recovery/Collection
The ability to collect in outstanding debts is vital to ensure that a business continues to run smoothly and grow. The importance of effective credit control functions are too often overlooked leading to cash-flow difficulties and on occasion, complete failure of the business itself.
The litigation team at Francis Wilks & Jones LLP has a proven track record in debt collection for a wide range of clients. Our results are extremely impressive both in terms of the amounts recovered and the true cost of those recoveries to our clients.
Our aim for clients is a simple one:
Collect the debt in as quickly as possible at the cheapest cost.
How do we do this?
Simply put, we always try and collect in debts by using the “insolvency” based recovery routes.
Firstly we send out a hard hitting demand letter threatening bankruptcy or winding up depending on whether it is an individual or company.
If a debt still remains unpaid after the initial demand letter, we always look to proceed by way of the following:-
- A statutory demand or winding up petition (against a company); or
- A statutory demand and bankruptcy petition (against an individual)
We choose this method of collecting debts over the more “traditional” County Court and High Court routes, even in smaller value claims. It must be remembered that a petition or statutory demand can be issued in relation to any “undisputed” debt over £750 in value.
Does this approach work?
Absolutely – see our results
Other benefits of the Insolvency Recovery route for debt recovery
Small claims, County Court and High Court claims
We recognise that not all claims are suitable for the “insolvency” route and FWJ is very experienced in dealing with the more traditional County Court and High Court claims.
As with all types of claim, we constantly look for ways to achieve a good result as quickly as possible. To this end, we are keen on the following procedures:
- Settlement pre issue, thus avoiding legal proceedings altogether
- Summary Judgment applications
- Part 18 Requests for Further Information
- Part 36 offers early in the claim
- Continued negotiations during the claim to try and achieve settlement
Our team is also backed by a state of the art IT system to enable bulk handling of claims where the situation requires. We also have the ability to interact with your own accounts package to enable swift and precise exchange of information to enable the recovery process to proceed without delay.
For more information contact: Andy Wilks
Andy Wilks Profile
andy.wilks@franciswilksandjones.co.uk
Tel: 020 7841 0390