For any business, especially in difficult trading conditions, it is vital that you stay on top of your cash flow. It may be bothersome, time-consuming and frequently expensive to maintain chasing people and businesses who owe your small business cash. If you permit your debtors to become late on any obligations, there can be major effects for you or your enterprise.
No Win No Fee Debt Collection Lawyers
Our litigation attorneys are based in Glasgow, Shawlands & East KIlbride and concentrate in recovering both industrial and personal debts because Collection Agency Regulation: Licensing Attorney General - State of ... of our customers in Scotland -- fast!
We act for all sorts of companies in Scotland and the most frequent types of debt recovery comprise bill retrieval, loans, building contracts, bankruptcy situations, consumer debts and more complex contract disputes.
How do we help you recover debts?
Send us the particulars of your debtors to us FREE OF CHARGE. Using our expert systems we'll find out for one of that the prospects of recovery from your debt(s). If the prospects of recovery are so good, we advise you over the very best routes -- these can comprise, for example, sending a letter of demand, which can provoke the borrower into paying their debt immediately without having to resort to the courts. However, in the majority of instances we litigate. It is as straightforward as that!
After describing your choices and, if we determine that litigation is the ideal route for you, we'd raise a court action in the Scottish courts (generally Sheriff Court, though Court of Session in Edinburgh could be suitable in certain circumstances), trying look at this now immediate payment of their debt, in addition to interest on the debt and any expenses caused. In some circumstances involving larger debts, ancillary steps will be obtained, such as'freezing' cash in the debtor's bank account or asking the court to stop the debtor from selling their house or property until the debt has been repaid.
Recovering Interest on Debt
It can be challenging for companies to handle their cash flow and keep their business operating whenever they don't take adequate steps to recover debt for them.
If your company is made cash, you must plan to recover that debt as soon as possible (speak to people ). When you pursue an action to recover your debt, you are entitled to seek interest on the amount to the extent the payment is overdue.
Our debt recovery solicitors are specialists in this area and we'll act on your behalf to make certain you get the most payment owed to you under Scots Law.
The amount of interest that could be recovered is normally calculated at 8% above the base rate, starting 30 days after the debt is expected. The due date for payment in respect of services or goods would be the later of the date of delivery of their goods or services, or the date on which note (like in the kind of an invoice) was supplied to the purchaser of the sum of the debt.
The key point to notice is that if debt is a result of your company and the payment late, we will always try to regain interest on such debt for you and we love just how significant the retrieval of these sums can be to your company.
Speak to our Debt Recovery Pros in Glasgow, Edinburgh, Congress should vote down this harmful debt collection legislation ... Inverness & Aberdeen, Scotland
Based in Glasgow, Shawlands and also East Kilbride, we provide our transparent and practical legal solutions to individuals across Scotland including individuals from Airdrie, Edinburgh, Motherwell, Bellshill