Manchester Solicitors

What is the aim of debt recovery?

Debt recovery involves actively pursuing claims relating to money owed by businesses and individuals. It also covers defending businesses and individuals accused of owing money.

Why is debt recovery important for businesses?

It is vital for businesses to recover unpaid debts. This is particularly important now that the current financial crisis means the practice of borrowing and lending money is no longer commonplace and cash flow needs to be maintained.

What is the effect unpaid debts can have on your business?

The short term effects of unpaid debt is having a detrimental impact on profit margins and reducing cash flow both of which must be maintained in order to keep your business financially healthy.

What role does a solicitor play in recovering debts?

The process starts at the pre-action collection stage where we will send letters before action. If that does not work we then instigate County Court proceedings until the winding up of a business who cannot pay the amounts owed.

A solicitor does not have to appear on the scene when debts need recovering. The rate of success is much higher if a solicitor is recruited before debtors appear on the scene. This is because solicitors can draft specific terms of agreement ensuring fewer debts turn bad.

How will the solicitor help recover debts?

Manchester lawyers will work in order to receive funds from debtors as soon as practically possible. Manchester Lawyers will work alongside your credit control team on either an ongoing or one off basis. If you allow us to work on an ongoing basis this will enable our team to build close relationships with your business in order to understand your wider commercial aims and negotiate the best types of terms and conditions for your business.

Do you offer any other services?

Manchester lawyers offer training in debt recovery procedures or general advice on recovery strategies depending on your price and time range.

Why should I use Manchester Solicitors?

Manchester solicitors deliver cost-effective methods for corporate clients.

For contentious claims we work alongside our commercial dispute resolution team.

We continually update our clients with progress made on their case. We have state of the art technology which lies at the heart of our success. This enables us to track and manage your case effectively and efficiently.

We tailor make all recovery solutions to suit your commercial objectives which enables us to advise on the best methods of recovery while being cost-effective.

We work on a fixed costs basis making sure even if the actual costs are higher.