Debt Recovery Solicitors in York
If your business is owed debts by your customers, this can have a negative impact on your day-to-day operations and cash flow. Recovering debts yourself is not always simple or viable. Working with specialist debt recovery solicitors to recover business debts can save you time and money
Rollits’ expert debt recovery lawyers can pursue payment of your business debts on your behalf and help you resolve matters with effective dispute resolution processes. We have considerable experience in this area, having worked with companies in a wide range of industries for many years.
Our debt recovery solicitors in York can support you with issues and areas such as:
- Debt payment demands
- Court proceedings
- Enforcement of judgments
- Winding-up and bankruptcy petitions
- Retention of title
- Collection of payments by instalments
Speak to our debt recovery solicitors in York today
To discuss your legal needs today, get in touch with our solicitors in York.
You can give us a call on 01904 625790 or fill in our contact form and a member of our team will get back to you shortly.
Our debt recovery services in York
Debt payment demands
Debt payment demands are requests made by a creditor to a debtor for the repayment of outstanding debt.
These demands typically include the amount owed, the due date, and any late fees or interest that have accrued on the debt.
Debt payment demands can be made in various forms, including written notices, phone calls, emails, or text messages. They may also come from collection agencies or third-party debt collectors who have been assigned to collect the debt on behalf of the creditor.
Our personal debt recovery solicitors in York can issue demands for payment of your debts on your behalf, as well as reviewing and amending any existing demands that you wish to send.
Court proceedings
Court proceedings are often initiated by a creditor who has been unable to collect payment for a debt using other means.
If the court rules in favour of the creditor, it may issue a judgment ordering the debtor to repay the debt, plus any interest and costs incurred during the legal process.
Debt recovery proceedings can be complex and time-consuming. It is important to seek legal advice before issuing, or responding to, court proceedings.
Our specialist debt recovery lawyers can advise, assist, and support you throughout the debt recovery process, ensuring you are kept informed about the relevant processes that may be most suitable to help you recover your debt.
Enforcement of judgments
If a Court judgment is obtained in relation to a debt, there are various options available to you to enforce the judgment if the debtor does not pay the debt by the deadline set by the Court. These options include instructing Court bailiffs to collect payment of the debt, obtaining an order that the debt deducted from the debtor’s wages, and securing the debt against the debtor’s interest in land or property.
Our debt recovery solicitors in York have substantial experience in recovering debts and will work with you to pursue payment of your debts
Winding-up and bankruptcy petitions
If a company is unable to pay its debts, you can make a winding-up application to the court to have, which is it ‘wound up’, on the basis that it is unable to pay its debts.
If your application of a winding up order is successful, the company will be placed into liquidation. The assets of the company will then be sold, any outstanding legal issues will be resolved and debts owed to the company will be collected. Once preferential debts are paid, if there are any funds left over, these will then be available to be distributed firstly to secured creditors, and then unsecured creditors.
Alternatively, if you are owed an undisputed debt by an individual as opposed to a business, you can initiate bankruptcy proceedings by filing a bankruptcy petition at Court, having first issued a statutory demand for payment.
If a bankruptcy order is made, a Trustee in Bankruptcy will follow a similar approach to a liquidator of a company, taking steps to collect in the assets of the bankrupted, with a view to creating a pot of money to distribute to creditors.
Presenting either a winding-up or a bankruptcy petition can be a complex process, and it is common for people to seek the assistance of a solicitor to help them.
Our debt recovery lawyers in York have extensive experience in dealing with insolvency processes such as bankruptcy and liquidation. We can advise, assist and support you in taking all appropriate procedural steps, from the drafting and service of statutory demands, the drafting and filing of winding up petitions and bankruptcy petitions, and also ensuring you are represented at Curt when the petitions are considered.
Retention of title
A retention of title clause, in properly drafted and incorporated into the terms between parties to a contract for the supply of goods, can allow a supplier of goods to retain ownership of those goods until they have been paid for in full by the buyer.
In broad terms, a retention of title clause will provide that ownership of goods will not transfer to the buyer until the goods have been paid for in full. The intention is to ensure that the supplier retains ownership of the goods, and can takes steps to recover them from the buyer if the buyer fails to pay for the goods.
However, it is important that the retention of title clause is drafted correctly, and properly incorporated into the terms of business between the parties governing the supply of goods, otherwise it will not be enforceable.
Our specialist solicitors in York can help you draft a retention of title clause, and advise you upon the steps that you need to take to ensure the retention of title of clause is incorporated into the contract between you and your customer to ensure you are able to recover your goods if they are not paid for.
Collection of payments by instalments
A repayment plan is an agreement between a creditor and a debtor, where the debtor agrees to pay off their debt in regular instalments over a set period.
Once a repayment plan has been agreed upon, the debtor will make regular payments to the creditor or debt management company until the debt is fully repaid.
A repayment plan can be an effective way for debtors to manage their debt and repay it in manageable instalments, while also avoiding the potential consequences of legal action.
Our debt recovery solicitors in York can help you create a debt repayment plan that ensures you recoup any debt that is owed to you in a timely manner.
Why choose our debt recovery solicitors in York?
At Rollits, we have developed a fantastic reputation for collecting debts, this we owe to the personal and high-quality service from our dedicated debt recovery team. We ensure to get to know you and your company, developing relationships that offer real value.
When you choose us, you’ll benefit from our extensive knowledge across both the legal and commercial sectors. We always offer bespoke advice by carefully considering your unique requirements. When communicating with you we will avoid any legal jargon that may confuse matters.
Our debt collection service fees
Our debt recovery team at Rollits offer competitive prices, reflecting the top-quality legal service that we offer. Our fees depend on the debt recovery issue you need support with, as well as the level of legal expertise required.
Certain action can be undertaken on your behalf on a fixed fee basis. If your needs are more complex, you will be offered an hourly rate.
Get in touch with our debt recovery solicitors in York today
To discuss debt collection in York and the surrounding areas, get in touch with our lawyers who specialise in dispute resolution matters.
Call us on 01904 625790. Alternatively, you can fill in our contact form, and one of our lawyers will get back to you.