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We understand that when your business is owed money, it can have a real impact on your ability to operate effectively, potentially causing cash flow problems and eating into your reserves. We also know how time-consuming and frustrating chasing outstanding payments and other business debts can be.
Our debt recovery solicitors in Northampton have a very high success rate in recovering money owed to our clients. We can take the burden of chasing outstanding debts off your hands, allowing you to focus on your business while we recover the money you are owed.
We can take a sensitive approach to debt recovery, ensuring that you can preserve positive relationships with people you wish to be able to continue doing business with. However, where necessary, we will pursue all available options to recover a debt, including court action, to make sure you are not left out of pocket.
If you have a business debt that needs recovering, our debt recovery solicitors in Northampton can help. Please get in touch by calling 01604 828282 to discuss your requirements.
In general, most business debts can be recovered quickly once we become involved and we have a number of different strategies we can use.
Our first step is usually to draft a Letter Before Action and send this to the person who owes the debt. This letter will state exactly how much is owed, when the amount was originally due and will warn the debtor to pay the outstanding amount promptly or further action will be taken. In many cases, a solicitor’s letter of this nature is enough to prompt payment.
If the debtor still does not pay what they owe or offer an acceptable explanation and solution, we will then usually proceed to issue court proceedings against them. This will include submitting a Claim Form and Particulars of Claim to the relevant court, stating the amount owed, plus any interest to be applied and a contribution towards your legal costs.
The court will then issue these documents to the debtor on your behalf, giving them 14 days to make a payment or challenge your claim. If the debtor challenges your claim, they will be given an additional 14 days to submit a defence.
If the debtor does not make a payment, reach an agreement with you, or submit a defence within the 14 day time limit (or their defence is rejected by a judge) the court will then issue a County Court Judgement (CCJ) against them.
This CCJ will appear on the debtor’s credit record, making it very difficult for them to borrow money in future. The threat of a CCJ will often prompt even the most reluctant debtors to pay you what they owe.
Once a County Court Judgement is issued, if the debtor still fails to pay, there are further steps we can take to enforce the judgement.
These include:
Warrant of Execution – Issued by a court, this empowers a court-appointed bailiff to trace the debtor, visit them and demand payment. The bailiff will have the right to seize goods from the debtor to the value of the Judgement if they cannot or will not pay.
Charging Order – This attaches a charge to the debtor’s property, meaning that if they decide to sell or re-mortgage the property, a portion of the money raised will be taken to repay the debt to you.
Order of Sale – This forces the debtor to sell their property and repay their debt using the proceeds from the sale.
Attachment of Earnings Order – This can be used to force the employer of an individual who owes you money to deduct a percentage of their monthly salary to repay what you are owed.
Franklins Solicitors has been established for over 30 years. We employ over 100 staff across our offices in Northampton and central Milton Keynes. We aim to be one of the most technologically advanced firms of solicitors in the country, adopting the latest innovations and combining them with our established legal expertise to provide a truly modern approach to the law for our clients.
We are accredited to ISO 9001 standard and Lexcel accredited by the Law Society, as well as being a recognised Investor in People. These achievements reflect our commitment to providing excellence as standard, not as an exception.
Need help recovering a debt in Northamptonshire? Contact our expert debt recovery solicitors in Northampton by calling 01604 828282 or click on the “next step” button below to request a call back.
Offers pay and display parking and Hazelwood Road NCP is located behind the offices.
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Franklins Solicitors LLP
8 Castilian Street
Northampton
Northamptonshire
NN1 1JX
United Kingdom
Telephone: 01604 828282
Fax: 01604 609630
Email: info@franklins-sols.co.uk
Private parking spaces available with an appointment.
Directions
By appointment only
Franklins Solicitors LLP
25 Billing Road
Northampton
Northamptonshire
NN1 5AT
United Kingdom
Telephone: 01604 828282
Fax: 01604 609630
Email: info@franklins-sols.co.uk
Debt recovery involves the process of collecting unpaid debts owed to a business or individual. Franklins Solicitors provides professional assistance to recover debts efficiently and legally.
The process typically includes initial consultation, assessing the debt, sending demand letters, negotiating settlements, and, if necessary, pursuing legal action.
The timeline can vary based on the complexity of the case and the debtor’s response. However, many cases are resolved within a few months.
Costs may include legal fees and court costs if litigation is necessary. We offer a transparent fee structure and can provide a detailed quote after understanding your specific situation.
Depending on the case specifics, we may offer no-win, no-fee arrangements. Please contact our office to discuss your case and available options.
It is helpful to provide any contracts, invoices, correspondence with the debtor, and any previous efforts made to recover the debt.
Our experienced team employs a strategic approach, utilising negotiation skills, legal expertise, and persistence to maximise the chances of recovery.
Yes, we provide services for both personal and commercial debt recovery, tailoring our approach to suit the specific needs of each client.
If you have any questions about anything legal, please don’t hesitate to contact our team of experts in the Northampton offices who are on hand and ready to help you.
