Cashflow is the lifeblood of all businesses. Interruptions to your cashflow can have a seriously destabilising effect, and in some cases may even put the financial security of your business at risk.
To keep your cashflow healthy, we have created a debt collection service that is designed to enable you to take swift decisive recovery action.
In some cases, we can act for a pre-agreed and competitively priced fixed fee. To find out more, take a look at our debt collection costs information sheet or call us on 01908 692769 to request a free, no obligation quotation.
Debt recovery services
Our experienced debt recovery lawyers can:
• write a formal letter of demand, which complies with any statutory rules governing the recovery of your debt;
• respond to requests for further information, and answer debt queries;
• assess the merits of a payment dispute;
• advise you on whether you can add interest and recovery costs to your debt;
• advise you on whether you can rely on a retention of title clause;
• support you in negotiating acceptable terms for the settlement of a disputed debt;
• advise you on your options, which may include issuing court proceedings, going down the insolvency route, or voting in favour of a Company Voluntary Arrangement;
• provide representation for you at court; and
• help you to enforce a debt judgment or any other court order that you obtain.
What types of debt can you help with?
We can support you in the recovery of any type of business debt, whether it is an unpaid invoice owed by a customer for the sale of goods or supply of services, a refund due from someone in your supply chain, or monies that are payable under the terms of a contractual provision, including delayed or late payment charges.
We act for a broad range of local, national and international businesses, operating across a range of industries and service sectors, and count sole traders, partnerships, private limited companies, public companies, charities and non-profits among our loyal client base.
We deal with the recovery of single, outstanding accounts and also provide a computerised bulk debt collection service where multiple recoveries need to be made.
How to begin the process of debt recovery
To use our debt collection service, simply call us on 01908 692769 and ask to speak to a member of our debt recovery team who will talk you through the process and the price structure for the support that you require. Assuming you are happy to proceed, we will then request the information and documentation that we need to progress your claim and once we have this you can sit back and relax while we take care of the rest.
Do you have to go to court to recover a debt?
In a lot of cases, we are able to collect in any monies owed without the need to get the court involved. We do this by sending formal demand letters, which clearly set out the amount owed and the consequences that will arise if prompt payment is not made.
Is there a time limit for collecting business debts?
You will usually only have six years from the date on which an account fell due for payment in which to seek recovery of the monies owed. This is because there are rules that apply to the collection of commercial debts which mean that, once six years have elapsed, your debtor will be within their rights to refuse to pay the sum claimed.
For this reason, it is vitally important that you undertake regular reviews of your debtor accounts and that you ensure that any historic claims are actioned as a matter of urgency.
Where you come across an account on which the six year time limit has already expired, it is still worth giving us a call as it may be possible to issue recovery proceedings outside of the six year period where the debtor has acknowledged liability for the debt in writing or where they have made one or more part payments on account.
Why choose Geoffrey Leaver Solicitors?
Requests for payment issued by us have a high success rate as a result of our reputation as debt recovery experts. This is evidenced by our ranking by The Legal 500 and Chambers and Partners.
Our solicitors in Milton Keynes have a first-class reputation in achieving great results for the businesses who turn to us for help. The advice we give is clear and straightforward, client-centred and commercially focused, and designed to achieve the best outcome at the most cost-effective price, bearing in mind your immediate objectives and longer term aims.
To make an appointment to see one of our Dispute Resolution & Litigation team, Ken Stangoe, Richard Millard, Trevor Coward or Guy Brooks please call 01908 692769 or fill in the contact us form.
Please click here for our cost information in relation to Debt Recovery.
What our clients say:
“You have done a brilliant job from start to end and provided the most efficient and professional service.”
To find out what existing clients think about our service, check out the client testimonials section of our website, and to keep up to date with legal developments that may affect your business why not take a look at our resource hub or sign up to receive our newsletter?
Chambers & Partners 2021 notes the team is well-respected and active on a wide range of contractual claims and commercial disputes, including unfair prejudice claims and fraud-related proceedings. Local and international clientele comes from a variety of industry sectors, and also includes private individuals and SMEs. One client commends the “proactive, engaging and considerate” nature of the team.
Chambers & Partners 2020 says ‘Well-respected team active on a wide range of contractual claims and commercial disputes, including unfair prejudice claims and fraud-related proceedings. Local and international clientele comes from a variety of industry sectors, and also includes private individuals and SMEs.’
Legal 500 2020 says ‘Geoffrey Leaver Solicitors LLP’s dispute resolution and litigation practice specialises in commercial property disputes, distribution and agency agreements, debt collection and director, shareholder and partnership disputes. Its work includes dealing with injunctions and freezing orders and work in areas such as insolvency, international trade and IT and e-commerce. Practice head Kenneth Stangoe, Trevor Coward, Guy Brooks and Richard Millard are the key contacts’
The Dispute Resolution & Litigation Team
Ken Stangoe Partner
Dispute Resolution & Litigation 01908 689307Ken is Head of the Department. He has over 20 years' experience as a commercial litigator, with a heavy focus on property disputes, including forfeiture actions and applications for relief, right of way disputes, rent recovery for commercial landlords, trusts of land, dilapidations claims, boundary disputes, rent and service charge recovery and lease renewal applications.
Richard Millard Managing Partner
Construction & Development 01908 689382Richard has over 20 years’ experience acting for clients in the construction industry, providing pragmatic advice to developers, contractors, sub-contractors, design and construction professionals, housing associations, smaller builders and homeowners.
Guy Brooks Partner
Dispute Resolution & Litigation 01908 689304Guy has more than 30 years’ experience in the legal profession and headed up the Commercial Litigation department of local firm Fennemores, before joining Geoffrey Leaver as joint head of the Dispute Resolution department in 2006. The Dispute Resolution department have been recognised by Legal 500 UK.
Trevor Coward Partner
Dispute Resolution & Litigation 01908 689311Trevor specialises in the closely connected fields of commercial litigation, partner/director disputes, insolvency, property litigation, and professional negligence. His background is one of broad experience across a wide range of commercial litigation. He is a member of Legal Counsel International, an alliance of lawyers in 17 countries.