For any business, particularly in challenging trading conditions, it's imperative that you stay on top of your cash flow. It can be troublesome, time-consuming and frequently costly to maintain chasing individuals and businesses who owe your company money. Should you let your debtors to become late on any payments, there may be major effects for you or your enterprise.
Our litigation attorneys are located in Glasgow, Shawlands & East KIlbride and specialize in recovering both commercial and personal debts due Five Tips for Hiring a Debt Recovery or Debt Collection Agency ... to our clients in Scotland -- fast! Our team is led by specialist Litigation attorney and Times Lawyer of the Week Billy Smith.
We act for all kinds of companies in Scotland and also the most frequent types of debt recovery comprise invoice retrieval, loans, construction contracts, insolvency situations, consumer debts and more complicated contract disputes.
How can we help you recover debts?
Send us the specifics of your debtors FREE OF CHARGE. Using our expert systems we will find out for you the prospects of recovery of your debt(s). If the prospects of recovery are great, we advise you on the very best routes -- these may include, for example, sending a letter of need, which can provoke the borrower into paying their debt instantly without needing to resort to the courts. However, in the majority of instances we litigate. It is as simple as that!
After explaining your options and, even if we determine that lawsuit is the best path for you, we would raise a court action from the Scottish courts (usually Sheriff Court, advice although Court of Session in Edinburgh may be suitable in certain circumstances), seeking immediate repayment of the debt, as well as interest on the debt and some other expenses caused. In certain circumstances involving larger debts, ancillary steps will be obtained, like'freezing' money in the borrower's bank account or asking the court to halt the borrower from selling their house or property before the debt has been repaid.
Allergic Interest on Debt
It may be hard for companies to manage their cash flow and keep their business running if they do not take sufficient steps to recoup debt due to them.
If your business is made money, you must aim to recover this debt as soon as possible (talk to people ). If you pursue a method to recover your debt, then you're eligible to seek interest on the amount to the extent the payment is overdue.
Our debt recovery solicitors are specialists in this area and we will act in your behalf to make sure that you receive the utmost payment owed to you under Scots Law.
The amount of interest which can be recovered is usually calculated at 8% over the base rate, starting 30 days after the debt is expected. The expected date for repayment in respect of services or goods is the later of the date of delivery of their merchandise or goods, or the date on which notice (like in the form of a statement ) has been given to the purchaser of the sum of the debt.
The important point to note is that if debt is due to your organization and the payment overdue, we'll constantly want to recover interest on that debt for you and we appreciate just how significant the recovery of such amounts can be to your business.
Speak to our Debt Recovery Pros in Glasgow, Edinburgh, Know your rights under the Fair Debt Collection Practices Act ... Inverness & Aberdeen, Scotland
Based in Glasgow, Shawlands and also East Kilbride, we provide our clear and practical legal services to people throughout Scotland including those from Airdrie, Edinburgh, Motherwell, Bellshill