DebtSolicitors.co.uk is aimed at providing you with information and advice on debt collection and debt recovery for personal debt and business debt. Before reading any further information, please take a look at our disclaimer.
Are you owed money?
If you have loaned money or are owed money by an individual or business then choosing a debt solicitor may be a valid option for you. The legal action that you take will depend largely on the size of the debt in question. In many cases a debt solicitor would not be required – a simple and well communicated letter or email may be enough to settle unpaid debt. When communicating with the individual or business of the owed money, it is important to include vital information such as:
- The individuals and/or business involved including address of both parties
- Dated emails, letters and any paperwork that states or refers to the debt in question
- A reasonable deadline for the debt to be cleared
- An option to dispute your claim against them
- A friendly but stern mention of the action that you will take if payment is not received and no dispute is raised
Do you need a Debt Solicitor?
If you have tried to communicate with the indebted party but received no response or an unreasonable response then you may wish to seek a debt recovery solicitor. A debt solicitor can outline all the legal action that will be taken regarding the debt in a well worded and stern letter. The advantages of using a debt solicitor are:
- Quick results: receipt of such a professional letter signals to the debtor that your position is very serious
- Legal advice: the solicitor will be a specialist in debt recovery and will understand all the legal action that can be taken following the letter
- Lower cost: using a debt solicitor to recover debt is a lot less expensive than taking the debtor to court, something that should be seen as a last resort
Debt Solicitors Online
The process of debt recovery or collection online is simple. Most debt solicitors will handle your case with a 3 stepped approach:
1. Letter before action – this letter will outline all the legal proceedings that will take place if the debt is not settled within a deadline
2. Court action – if the debtor fails to respond you will be given the opportunity to fill out a court action form that will then be sent to the debtor. Court costs for yourself can range from £15 to £70 if you are filing your case through the Claims Production Centre