Debt recovery

[Fiery Fairy]

Morning,

I recently won a claim for return of monies through the court. It amounts to nearly £11,000. The company is based in Swansea and I'm in Yorkshire. The date for payment was last Tuesday 7th and they haven't paid. They tried to get the court to put the judgement aside - this couln't happen because the directors attended and the appeal time is over. I have written and said they have til tomorrow, but I know they have no intention of paying me. They are still trading. Any suggestions or help - I need the money back asap. Not sure what to do now,

FF

 

[DetectiveDenise]

The next step is probably to request a court bailiff to try and recover the money, you will have to look at if they have any assets that will be worth seizing. There is also the option to go down the Statutory Demand route or Charging Order, a lot depends on if the comapny is a sole trader or a Limited company, but not the best of news, be prepared for the long haul and seek proper legal advice.

 

[Fiery Fairy]

They are a limited company!

Why does it have to be so hard for the person owed the money?

 

[Clarkmans]

Hi

I'm happy to have a free chat with you about all the enforcement options if you want to call.

Clare

 

[Geoff T]

Hi

I'm happy to have a free chat with you about all the enforcement options if you want to call.

Clare

OP - have a chat with Clare - or with Lucy - they'll see you on the right course...

 

[Business News]

The best approach I have found to recover debts is by applying a third party debt order against the debtors bank. To achieve this you do need to know what their bank details are, I have always found this out from previous cheque payment or by calling the companies accounts department and posing as a customer wishing to pay one of their invoices by BACS. The only pitfall to this is that their account must hold sufficient funds on date of ruling in order for the debt order to be valid and honoured by the bank. If you are unsure of this then a simple way to check is do a credit reference and you will see what their cash balance (in bank usually) runs at at year end for the last 3 trading years. If that is comfortably above £11k then you'll be laughing all the way to their bank.

Conversely, I've found getting court bailiffs involved as very much a hit and miss approach with higher costs applied irresepective of if they recover your debt.