Debt Recovery - What Are Your Options?

Posted by Chris Ringham on Jul 16, 2021 11:41:00 AM

Debt Recovery - What Are Your Options

Debt recovery is necessary when you're owed a debt that hasn't been paid. It doesn't matter whether it's a commercial business debt or a private personal debt, if you're owed money that hasn't been repaid, you need to think about how you're going to get it back.

Free Guide To Debt Recovery Enforcement Methods

By using the experienced debt resolution professionals at Bowsers Solicitors, Wisbech and March, creditors can find the assistance they need to get the money they're owed.

How Might You Be Owed Money?

Unpaid debts can arise in all manner of situations. It may be a case of you being a business owner who has an unpaid invoice for services rendered to a customer. You may have made a loan to a friend that you put in writing and have not been paid back. Similarly, you may be a landlord who hasn't received rent. There are many different paths to being owed money, and the nature of the debt will help determine the right course of action for getting it resolved.

The Paths To Debt Resolution

There are many different options for getting your money back. For example, in the case where the debtor doesn't respond, a County Court Judgement is a legal recognition of the debt and their requirement to pay. A charging order can be established if payments are in arrears. Attachment of earnings orders can net monthly repayments directly garnished from the debtor's salary. Statutory demands are official notices of the unpaid debt that set out the terms for repayment.

These options will suit different creditors in different ways. That's why it's important to involve the assistance of a specialist legal team who are experienced in debt resolution. At Bowsers Solicitors, for example, we can help you to better understand all of the options open to you as well as which are going to be right for your needs. With the decision made we can then help guide you through the process to give you the best possible chance at successful debt resolution.

Contact Us Today

By using the professional and experienced team at Bowsers Solicitors, March and Wisbech creditors have been able to find the right resolutions for their unpaid debts. To learn more about the methods used, take a look at our handy Debt Recovery Enforcement Guide for more information. To take the next step, contact the friendly and professional debt resolution experts at Bowsers Solicitors today to discuss your needs and get a quote.

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Image source: Pixabay

Topics: Civil Litigation, Debt recovery