At Lane & Co, our solicitors specialise in business and commercial debt recovery and collection. For 40 years our clients have been coming back to us to recover and collect the money that is owed to them.

It is our experience that the late payment culture in the UK has not improved since our foundation in 1978. In fact, we believe that it has got worse. Many of our clients are successful businesses who have come to rely on us to collect the late payments that would otherwise impact negatively on their cash flow.

The Business Debt Recovery Process

Our solicitors focus on commercial debt recovery for businesses of all sizes, from SMEs up to PLCs. Once we have been instructed by a client we take immediate action and adhere to the following 4-stage business debt collection legal process. Each stage represents a step up in the pressure applied for payment.

• The Letter Before Action

The process starts with a Letter Before Action to the debtor. This states the value of the debt and the time frame for payment. In most cases – over 80% of the time – the debt is settled quickly and our solicitors do not take the matter further. It is just the push that the late payer needs to make payment, knowing that this is the start of the legal process.

• Issue of Court Proceedings

If the debt is still not paid or a reply has not been received to the Letter Before Action, within the time frame set out, we will consider issuing a County Court Claim. Here a claim form will be filed with the Court

• County Court Judgement

If an Acknowledgment or Defence is not received within the Court time frame, we will apply for a County Court Judgment (CCJ).

• Enforcing the County Court Judgement

If payment has still not been received, there are a number of different ways to enforce the Judgment once obtained. Enforcement commences with instructing the Bailiff or High Court Enforcement Officer. Enforcement processes include: Warrant of Control, Writ of Control, Charging Order, Third Party Debt Order, Attachment of Earnings Order, Application for Debtor to Attend Court for Questioning and Statutory Demand. If none of these work, then insolvency procedures are implemented: bankruptcy proceedings for individuals and a Winding up Petition/Liquidation for companies.

Talk to our Business Debt Recovery Solicitors

Our business debt collection solicitors are experienced in all areas of debt recovery. If you or your company is suffering from a late payment problem, please contact us or call us on 01922 616306 for a FREE initial discussion.

The sooner you get in touch, the faster we can work to recover the money owed to your business.