Especially in the current difficult financial climate, debt collection is a subject near the forefront of all business people’s thoughts.

 

Court Proceedings

 

We are able to offer a comprehensive debt collection service from the sending of warning letters to creditors, which can often inspire payment of outstanding debts, by alerting the creditor to the serious approach which the debtor is taking towards the outstanding monies owed, through to issue of proceedings in Court in order to obtain an order confirming the monies owed, then enforcement of orders which can be by a number of methods, including:

 

• Securing the monies owed by way of a charging order against the debtor’s property.

 

• Obtaining an order for sale of the debtor’s property.

 

• Obtaining an attachment of earnings order.

 

• Obtaining a third party debt order, which means that payment can be obtained from a third party who owes money to the party against whom you have an order (normally against the creditor’s bank account).

 

• Obtaining an order that allows you to seize and sell goods which belong to the creditor in order to satisfy the debt.

 

Bankruptcy/Liquidation

 

Furthermore, should a company or individual owe a party a sum in excess of £750, then you may wish to pursue bankruptcy proceedings against an individual, or liquidation proceedings against a limited company.  The presentation of a Statutory Demand for a debt of £750 or more will normally ensure that a creditor heeds the fact that they are at risk of being made bankrupt or liquidated should they not respond to the Statutory Demand, either by applying to have it set aside, or making payment proposals to settle the debt.

 

The next step following presentation of a Statutory Demand to a company, which has not been responded to satisfactorily, is to consider whether to liquidate the company.  This would be by way of a creditor presenting a petition to the Court to wind the company up on the basis of non-payment of its debts.  With an individual, a Bankruptcy Petition would be presented to the Court, asking for the creditor to be made bankrupt. 

 

We, as solicitors, are able to prepare the necessary paperwork in order to carry out all of the above actions so that you may receive payment of the monies which you are owed. 

 

Naturally, taking steps to either bankrupt an individual or liquidate a company are not steps which we would advise you to take lightly but would be dependent upon the individual facts of each case and the conduct of the creditor.  Ordinarily, it would not be necessary to go to these lengths but these remedies are available to you if resolution cannot be reached on a particular matter.

 

Here at West London Law, we aim to advise you on practical solutions to achieve resolution to cases, with regard to the commerciality of situation, the costs involved in pursuing actions and your needs, wants and wishes. 

 

We are always happy to discuss any debt collection instructions that you may have, or alternatively if you are facing debt recovery proceedings from another party, then we will be more than happy to assist you in defending these.

 

Please do not hesitate to contact us on 020 8434 3508 or info@westlondonlaw.com for more information.