For any business, particularly in tough trading conditions, it is very important that you keep on top of your cash flow. It may be troublesome, time-consuming and frequently costly to maintain chasing people and businesses that owe your company money. If you permit your debtors to become late on any payments, there can be significant effects for you personally or your organization.
No Win No Fee Debt Collection Lawyers
Our litigation attorneys are based in Glasgow, Shawlands & East KIlbride and concentrate in recovering both industrial and personal debts because Know Your Rights With Debt Collectors - Two Cents @ Lifehacker of our customers in Scotland -- quickly! Our team is led by specialist Litigation attorney and Times Lawyer of the Week Billy Smith.
We act for all types of companies in Scotland and also the most frequent kinds of debt recovery comprise invoice retrieval, loans, construction contracts, insolvency situations, customer debts and much more sophisticated contract disputes.
How do we help you recover debts?
Send us the specifics of your debtors to us FREE OF CHARGE. Using our specialist systems we'll find out for one of the prospects of recovery of your debt(s). If the prospects of recovery are so good, we advise you over the best paths -- these can comprise, for example, sending a letter of need, which may provoke the debtor into paying their debt instantly without having to resort to the courts. But, in the majority of instances we litigate. It's as straightforward as that!
After describing your choices and, if we identify that lawsuit is the ideal path for you, we'd raise a court action from the courts (generally Sheriff Court, although Court of Session in Edinburgh may be right in certain conditions ), trying immediate payment of their debt, as well as interest on the debt and some other expenses due. In some circumstances involving bigger debts, ancillary measures will be taken, such as'freezing' cash in the debtor's bank accounts or asking the court to stop the debtor from selling their visit this site right here house or property until the debt has been repaid.
Recovering Interest on Debt
It can be hard for businesses to handle their cash flow and keep their business operating if they don't take adequate actions to recover debt for them.
If your company is owed money, you should plan to recover that debt whenever possible (speak to people ). When you pursue an action to recover your debt, then you're entitled to look for interest on the sum to the extent the payment is late.
Our debt recovery solicitors are experts in this region and we will act in your behalf to ensure you get the utmost payment owed to you under Scots Law.
Concerning the law in this area of debt recovery, the UK Government has introduced laws to provide businesses with a legal right to claim interest on late payment of commercial debt. The amount of interest which could be recovered is usually calculated at 8% above the base rate, starting 30 days after the debt is due. The due date for payment in respect of services or goods is the later of either the date of delivery of those goods or goods, or the date on which notice (such as in the form of a statement ) has been supplied to the buyer of the sum of the debt.
The important point to notice is that when debt is due to your small business and the payment late, we will constantly try to recover interest on such debt to you and we appreciate just how important the recovery of these amounts can be to your business.
Speak to our Debt Recovery Pros in Glasgow, Edinburgh, Fair Debt Collection Practices Act: What You Should Know - Debt.org Inverness & Aberdeen, Scotland
Based in Glasgow, Shawlands and East Kilbride, we provide our clear and sensible legal solutions to people throughout Scotland including people from Airdrie, Edinburgh, Motherwell, Bellshill