Are other people enjoying your money?
Recover your debts with STRIPES Solicitors
You know only too well how your company’s expansion and achievement of business plans can be hampered by other businesses and people who are using you as a free credit facility.
Too many withhold payments or pay invoices too late. In short, other people are enjoying the benefit of your money at the expense of your bank account. It can endanger the survival of a small business, and can even effect growth and distract resources in a large business.
We know you understand that debt recovery can be a highly costly and time consuming exercise if placed in the wrong hands.
It has been established that currently, bosses are spending an average of 3 hours a week chasing unpaid invoices, small businesses are wasting precious time that should be spent on running and growing the business, and approximately10,000 UK businesses fail each year as a direct result of late payment.
So the real questions are – are you getting results and are you getting value for money?
Debt collection agencies and other organisations that collect debts based primarily on “volume” turnover can often fall short when cases become more complex, entrenched, and when defended actions need to be managed.
At STRIPES Solicitors, we adopt a robust approach. Our procedures leave no stone unturned in the pursuit of recovery of your debts.
We are totally committed to providing high quality debt recovery service at affordable prices.
On occasions you’ll find your Court actions will cost you nothing, and you may even make a profit as your debtor has to pay interest if action begins.
We always look to keep Court action costs to a minimum. Clients availing themselves of our debt recovery service may find that they may not incur any net costs at the end of a matter.
Our Approach
The first step in any recovery is the review of the debt by one of our team and we can then decide upon the most appropriate method of recovery. We can save time by advising at the earliest possible stage whether it is appropriate to sue in the County Court, or High Court, or immediately proceed to a winding up or bankruptcy petition. This decision is made not only by the size of the debt, but also by the legal entity of the debtor and whether liability for the debt is disputed. We will act for you whether you are a large multinational company, through to a big or small owner managed business.
Debt recovery best practice
STRIPES are respected Commercial Litigators and Advisors and are highly geared towards litigious work. We have the depth of experience and expertise to cater for your recovery requirements across the board – be it optimising the recovery of non defended claims, through to the relentless pursuit of litigated actions. Through our experience we have built up knowledge to optimise the best prospect of recovery.
We can work alongside our clients helping them to install best practice procedures which form the foundation of their own debt recovery and cash management systems. These significantly impact on success rates especially with regard to winning defended actions and to ensure the maximum recovery of claim, interest and cost. We can deliver input on matters such as the client’s “Terms and Conditions” of business and advise on debt procedures which again means that any debtor has the minimum of opportunity to successfully fight a defended action. This can also improve your position to recover all of your costs and at good commercial rates of interest.
Clients availing themselves of our Debt Recovery Service may find that they may not incur any net costs at all!
We provide
Demand letters
Working on your terms and conditions; helping you to draft and apply them
Negotiations and mediations
Defended cases
All forms of enforcement and court proceedings
Our Services
Service levels are agreed before we start
We’re fast!
Low fee letter before action
We always keep you in the picture
Operate fixed cost proceedings with costs normally recoverable from debtor
You can generate your own same day before action letters
We accept instructions by email, phone or fax, and will write a warning letter to the debtor the same day. This allows 7 days for payment to be received and after this date if the amount owing is not paid has not been disputed, proceedings can then be issued automatically and a judgment obtained at the earliest opportunity where deemed appropriate.
We charge a fixed fee for each step taken. Please remember that a large part of our fees and disbursements is recoverable from the debtor in successful cases. This can be very cost effective after taking account of interest recovered.
We invoice monthly for fixed fees and disbursements incurred during the previous month. All invoices are payable within 7 days of receipt. We deduct our charges from the funds we have recovered from your debtors at 14 days. This is to enable us to concentrate our efforts on collecting your debts and not pursuing our own invoices. We have facilities for payment by credit card. With new clients we may require a “float” to cover disbursements which need to be incurred.
Please visit our website for more information on commercial litigation, insolvency and our other Business Support services.
Summary of Benefits
Turns your bad debts into cash
Massive success rates
Specialise in difficult and defended cases
Often secure your cash without resort to court costs
Always endeavour to include any of your costs within cash we secure
In terms of your debt recovery service, are you getting results and are you getting value for money?
Please telephone or email us and we can provide you with full details of our cost effective fixed fee package.
Our success means a healthier cash flow for you.
Contact Andrew Haffner at STRIPES Solicitors on 0161 832 5000
Are other people enjoying your money?
Your company’s expansion and business plan achievement can be hampered by other businesses and people using you as a free credit facility. Withheld payments and late invoices can endanger the survival of a small business – each year 10,000 UK businesses fail for this reason – and can affect growth and distract resources in larger enterprises.
But debt recovery can be a costly and time-consuming exercise if placed in the wrong hands. Debt collection agencies and other organisations that collect debts based primarily on “volume” turnover can often fall short when cases become more complex, entrenched, and when defended actions need to be managed.
At Stripes, we adopt a robust approach. Our procedures leave no stone unturned in pursuit of the recovery of your debts, and we are committed to providing you with an affordable service.
Our debt recovery approach
As a first step, we’ll review the debt and decide upon the most appropriate method of recovery. We can save time by advising at the earliest possible stage whether it is appropriate to sue in the County or High Court, or immediately proceed to a winding up or bankruptcy petition.
This decision is made not only by the size of the debt, but also by the legal entity of the debtor and whether liability for the debt is disputed. We will act for you whether you are a large multinational company, through to a big or small owner-managed business.
A relentless pursuit for your claim
Stripes are respected Commercial Litigators and Advisors and are highly geared towards litigious work.
We have the depth of experience and expertise to cater for your recovery requirements across the board, from optimising the recovery of non-defended claims to the relentless pursuit of litigated actions. Through our experience we have built up knowledge to optimise the best prospect of recovery.
We can work alongside our clients helping them to install best practice procedures which form the foundation of their own debt recovery and cash management systems. These significantly impact on success rates, especially with regard to winning defended actions and to ensure the maximum recovery of claim, interest and cost.
Contact our Debt Recovery Solicitors direct or call us on 0161 832 5000
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