For many businesses late payments have become an expected part of their day-to-day operation. However, some may underestimate the damage that outstanding payments and debtors can cause, as highlighted in our article ‘A lack of credit management could harm your business’.
Collecting payment from clients can be a problem, even for the most financially astute companies, as some situations are out of our control. For example, a client could simply refuse to pay, or they might take advantage of the friendly relationship you have with them.
In some industries, particularly where customers are loyal, people avoid chasing payment from clients for fear of ruining the relationship or losing them, and so it becomes increasingly difficult to collect monies owed.
Sounds familiar? Here are the reasons why you should seek advice and assistance from debt recovery solicitors:
When payment becomes overdue it is important that you act quickly as the older a debt becomes the more difficult it is to recover. Chasing payment can be time-consuming, but we have the time to quickly and effectively pursue your debtors, so you don’t have to.
Your time and resources should be expended on providing a good service to your clients, not chasing them for payment, that’s our job!
J&P Credit Solutions have the skills and experience required to maximize the collection of outstanding payments. We are a firm of solicitors and so we have ability to issue legal proceedings if necessary, unlike many debt collection agencies.
We can manage debts at any stage from pre-litigation to issuing proceedings, and obtaining quick judgments to dealing with complex, high-value and disputed cases.
3. Increased chance of recovery
We often find that sending a letter before action is enough to secure payment. Debtors are more likely to pay if they receive a letter from a solicitor, often the knowledge that the threat of legal proceedings is a serious one is sufficient motivation to ensure the debtor makes your debt a priority.
4. A risk-free and cost-effective solution
Our pricing structure for pre-litigation cases ensures our service is risk-free – we will only request a fee upon successful recovery of your debts.
Contact us for an introductory offer on your first batch of cases.
5. A transparent service
Our online case management system provides real time, around the clock access to your cases.
The automated system details the contact we have made with your debtor, any payments that have been received and the account balance, so you can keep track of the progress we make.
Seeking the assistance of a debt recovery specialist is more efficient, cost-effective and successful than trying to pursue debtors yourself!