Kiteleys Solicitors

Kiteleys Solicitors. 7 St. Stephen's Court, 15-17 St. Stephen's Road, Bournemouth, Dorset. BH2 6LA. Telephone 01425 278866.
Kiteleys Solicitors is the trading style of Kiteleys Solicitors Limited registered in England and Wales, registered number 03113721. VAT Registration No: 658 8813 79.
This firm is authorised and regulated by the Solicitors Regulation Authority. A list of directors is available for inspection at our registered office.

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At Kiteleys we are a team of experienced solicitors, all very enthusiastic about our own specialist areas of the law.

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18th April 2013

Bad debt recovery

In business there is always a lot to think of, just the general running of a business in the good times can be challenging. When more complex issues arise like the recovery of bad debts, it adds to day-to-day stress, impacts on cash flow and unnecessary time in conflict.

If statements and chasing has already gone passed the point of no return, then there are still a few possible options to take to get the resolution that all parties can comply with. If you can still talk, then always try to mediate between both parties, speak calmly, positively and listen to each others point of view. Asses the situation, does the customer or client not have the funds currently, is there a dispute with the work or are they just not paying and being troublesome.

If you think that there is no reasonable excuse for the non payment, then inform them of their contractual obligations, your terms and conditions and the interest they may be likely to incur as the bad debt goes further overdue.

If you feel this isn’t rendering any satisfactory results then consider legal representation. A good solicitor like Kiteleys will guide you in the right direction. Send your debtor a formal letter to inform them of the situation and that they will hear from your solicitor, this may give them reason to react.

If this doesn’t stir them, then continue with your proposed action, contact Kiteleys, asking for a legal letter will be issued, it’s surprising how when given the threat of legal and court action most businesses find the money that they owe. A letter of claim advises that you intend to sue them unless they settle their account by a specified date. For larger sums, issuing a statutory demand for payment means that the court could ultimately close their company or make an individual bankrupt if the debt isn’t paid. Therefore this depends on how valuable they feel that their business is to them and whether it is easier to clear the debt or not, which may be awkward if they have accumulative debts.

We would hope that this method of action would retrieve the money owed but if not Kiteleys is there all the way to help you through the court proceeding and hearing costs which will be refunded when you win your case.

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Kiteleys Solicitors. 40 Haven Road, Canford Cliffs, Poole, Dorset. BH13 7LP. Telephone 01425 278866.
Kiteleys Solicitors is the trading style of Kiteleys Solicitors Limited registered in England and Wales, registered number 03113721. VAT Registration No: 658 8813 79.
This firm is authorised and regulated by the Solicitors Regulation Authority. A list of directors is available for inspection at our registered office.