Business Debt Recovery Services
Securing your future…
Whether your organisation is a large multi-national or a small business, if you are owed money it can be frustrating and time consuming to chase payment. When you have tried all reasonable means to get the payments you are due, taking legal action to recover the commercial debt is often your only recourse.
Our specialist debt recovery team are experienced in dealing with all kinds of issues and can handle the whole process, from the first instruction to final enforcement. No matter the size or scale of the commercial debt your business is owed, adopting a structured approach to successfully retrieving monies owed is essential in ensuring your business stays afloat.
The team is proud to have been noted in the Legal 500, which states:
“Smith Partnership impresses with ‘exceptional service’. The private education and consumer goods sectors are mainstays for the practice, which advises private nurseries and acts alongside banks for their private education clients. The group also handles mandates in the manufacturing, construction, finance, telecommunications and brewing industries. Claire Twells, who ‘interacts exceptionally well with clients’, heads the department, which includes ‘tenacious’ litigation executive Sharon Davies and litigation executive Andrew Hambleton. The team recently assisted the University of Leeds with the recovery of a debt from Genelux, an Indianapolis company, related to an agreement between the university and Genelux to provide staff training for Genelux in the university’s laboratories.”
Trusted debt recovery specialists
Our debt collection team is trusted by organisations of all sizes including educational organisations, large household names and breweries. In 2016 the team were asked to pursue debts in excess of £30m.
Along with acting on the client’s behalf to collect commercial debt, the team are also able to offer advice on how businesses may be better able to manage their in-house debt recovery procedures – reducing their reliance on external support, such as debt collectors.
While recovering the money that your business is owed is of paramount importance, we understand too that you have a business to run. This is why we offer an online service which can be accessed at a time convenient to our clients. From the system clients can track their case, produce reports and get updates on costs.
Undertaking both contentious and non-contentious work, our services include handling a wide range of matters relating to commercial debt such as:
- Creditors’ voluntary liquidations
- Compulsory liquidations
- Company voluntary arrangements.
Sending a letter of claim is an essential part of the debt recovery process. Acting on our clients’ behalf our experts will draft a letter of claim which clearly outlines the debt owed, payment required and the time period to which the payment(s) must be received. Within the letter of claim we will also be clear about the next steps, which could include court action, should payment(s) not be received in time.
Debt recovery specialists in your corner
Debt collectors. Bailiffs. County court judgements. Insolvency. The terminology around debt can leave even business professionals feeling confused. Understanding the importance of clear communication, the team adopt a jargon-free approach and work to establish clear lines of communication with the debtor on their clients’ behalf.
Through their client-focussed approach, the team take care to understand exactly what their clients want and need to achieve a successful outcome when it comes to managing commercial debt. As experienced debt collectors, we understand the sensitivities that can arise when it comes to debt recovery, including the fact that debtors may be existing clients of the company.
Tailoring their business debt collection service to suit the organisation or small business they are supporting; the team are sensitive to the issues surrounding debt and treat everyone with respect while adopting a straight-talking approach to the situation.
Debt recovery specialists that put you in control
Along with our legal expertise, through our online debt recovery service, Activate, you will find a cost-effective, efficient approach to debt recovery than can be tailored to meet the individual needs of your business. With access to your files 24 hours a day, seven days a week, Activate puts you back in control of managing your business’ finances.
To find out more about how the debt recovery team can help support your business, contact us.
Smith Partnership's team of expert debt recovery solicitors draws on many years' worth of practical experience to recover any outstanding debt owed to your business. The team includes: