Debt Recovery Tips

Author: Mitchells Roberton
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At Mitchells Roberton we have a strong debt recovery team. Keeping on top of your business’ finances is essential to a successful business. Cash flow is important and can be made difficult when you have slow payers, those who only pay up when faced with no alternative but to do so and there are always those who are determined not to pay at all.

Do not be put off by the following:

  • You do not have details of the debtor’s current whereabouts. In the vast majority of cases we are able to locate the debtor.
  • The debt is too small/ it is not economic to pass it to a solicitor. Debts can be recovered quickly and as economically as possible.
  • The debt is too old. Generally recovery action in respect of a debt in Scotland can be commenced up to five years after it first became due.
  • You have concerns about the debtor’s ability to pay. Pre action reports can be undertaken to find out as much as possible about your debtor’s financial position, for example if the debtor owns property or is in employment.
  • Debt recovery is too complicated. We will guide you through the whole process, keeping you up to date and answering any questions you may have. While we will need information from you from time to time, you can leave the court processes to us.
  • Court order/ decree – what then? Once a court order/decree is obtained further steps may be required to secure payment. We will discuss all the enforcement options with you.

We are here to help you and your business recover all of the sums owed to you whether large or small and as quickly as possible. An early instruction to our team can save you time and reduce the likelihood of having to write off bad debts.

If I can assist please contact me Marcus Downie on 0141 552 3422 or by email md@mitchells- roberton.co.uk

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