Specialist commercial debt recovery legal advisers in Worcestershire
We provide the Worcestershire area with specialist commercial debt recovery help for businesses who are owed money from other businesses
Some businesses who need a financially large debt recovery often fail in their attempts because they have a lack of legal skills and legal understanding. The best step is to get in contact with a law firm who can help get you the legal support you need and most importantly recover the debts that you are owed. Resolve Law Group can provide you with the expert help you need.
Our approach to commercial debt recovery services
Our legal advisers at Resolve Law Group are experts in commercial debt recovery disputes and we can help get you the money that you are owed. We will not baffle you with legal jargon which can be extremely confusing sometimes. Our communication to you will be straightforward so that you know exactly what is happening. We are very proud of our staff who are hardworking and honest people striving to deliver the best result for clients.
We will ensure 3 things if you contact Resolve Law Group with a possible case:
• We will explain to you what options you have
• We will advise you on the legal situation and what the law says
• We will tell you the expected outcome of the case
This is to give you a clear understanding of what to expect if it goes to court.
Debt recovery legal fees
During the current economic climate, it is incredibly important for your business to maintain a steady cash flow to help pay wages, overheads and more. Our goal is to get you the money that you are owed so we can relieve you of the stress that applying on your own could cause. Also, the debt that you are owed may be crucial for your finances and future planning of your business.
We understand that you may be worried about the fees associated with legal help as some law firms have additional fees in the fine print. However, we are proud to offer an affordable and easy to follow price guide that helps businesses like you, understand how much you will pay with no hidden fees. Each case is unique, but we will try or best to provide you with a fair and clear price.
Previous commercial debt recovery cases
We have encountered numerous cases where other law firms have not advised on the most effective route to debt collection. Often they don’t realise for instance that High Court Enforcement Officers are far more effective than court bailiffs or that a Sale Order can be applied for to enforce a Charging Order. They spend too much time sending standardised letters/communications that experienced debtors have learnt to ignore.. We have often recovered on cases which have been written off by other companies .
When a recovery is simply not possible we will try to advise you of this from the outset rather than encouraging you to incur unnecessary and unproductive legal fees. We try to ensure any money spent with us is spent productively with a positive result where possible.
Commercial debt recovery process
Step 1: Before we carry out any paperwork or appeals, we will review the documentation provided to us to make sure that you have a valid claim. We will provide a thorough analysis and all the information provided must be correct to enable us to pursue the claim.
Step 2: Provided that we have accepted the case and the documentation provides a valid claim, we will send a letter of claim to the debtor before any action is taken.
Step 3: If the letter previously sent to the debtor has had no response and no sign of upcoming payment, we will send another letter chasing them for response or payment.
Step 4: We will then start court proceedings.
Step 5: If the debtor fails to respond to the court proceedings, we will then request Judgment in Default from the court.
When is a commercial payment ‘late’?
You can charge an interest rate on late payments from a business. Payment must be paid within 30 days for a public authority and within 60 days for business. Business transactions can be longer than 60 days, but the payment date must reflect fairly on both parties. If a payment date is not agreed in the contract then in the eyes of the law, the late date is 30 days after the customer gets the invoice and you deliver the goods or service.
What is the interest on late commercial payments?
If a business is late for a payment, you can charge a ‘statutory interest’ of 8% plus the current Bank of England base rate for business to business transactions.
You can also charge a business a fixed sum charge for late payment as well as interest. There are 3 charge tiers:
• <£999.99 = £40 charge
• £1,000 - £9,999.00 = £70 charge
• >£10,000 = £100 charge
Let Resolve Law Group help your business
Solicitors working at Resolve Law Group will work hard on your case so that we have a high chance of getting you the debt that you are owed. Resolve Law Group have over 30 years’ experience in the legal industry which has allowed us to develop our knowledge and understanding of legal practices and systems. Your case will be 100% dealt with a solicitor and not a clerk or someone of lower legal knowledge so that you have the best legal representation possible.
Contact us so we can help get you the legal support you need and get the debt that you are owed.
If you are after support in a different legal sector, please visit our services page.