Why the client needed our help
Our client, an invoice finance and factoring company wanted legal help recovering a debt of £9,726 from a debtor in financial difficulty.
How we helped
The debtor refused to pay the amount demanded in the letter before action.
A winding up petition was immediately drafted, issued at court and served on the debtor without delay.
The outcome / significance to the client
A settlement was reached with the debtor of £6,000, including legal costs. This was due to a partial dispute on some of the invoices.
Once the debt and costs were paid, the winding up petition was dismissed from court and our client’s money safeguarded in full.