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Debt Collection Advice
We cover everything you need to know about this legal process and you can contact me anytime by phone or email to ask anything related to Debt Collection.
Ask Nigel Collections Agency
I have set up this site to help you understand the Debt Collection process. Along with our solicitor, barrister and Insolvency practitioner we have over 25 years’ experience in Defending Debt Claims, so it follows that the best people to ask about Debt Collection would be someone who knows all the loopholes in defending them.
Utilising the full resources of the Law we cover everything you need to know about this legal process and you can contact me anytime by phone or email to ask anything related to Debt Collection.
What is a debt?
A debt is a Liquidated sum payable by agreement (Typically in a contract)
Types of Debt (Commercial or Personal.)
How Can We Help?
We have been involved in defending debt claims for over 12 years that have involved
- Statutory Demands
- County Court Judgments
- Bankruptcy Petitions
- Winding up Petitions
And have been very successful in defending them, WHY?
Well not because the client didn’t owe the debt but because the Creditor had made vital errors in the process giving the Debtor the opportunity to have the action overturned and being awarded costs back from the Creditor.
The big mistake people make is believing that they have a great claim and that they should be 100% successful and are also encouraged by Debt Collection companies or Solicitors that do not fully understand the process and the RISKs involved chasing payment from an Individual or a Company.
We look at not just the alleged debt (because at this stage it is only alleged) , but how this debt became outstanding and what defence would the debtor have to make sure that you were made fully aware of what could happen if the debtor defended this action.
What Debt Collection methods can you use?
Just a Letter Before Action can work.
A Solicitors engagement letter can also work as it gives more gravitas to the situation.
If the debt is against a Limited Company and is NOT disputed then a Statutory Demand is the favoured route prior to the Winding up Petition.
Or in some circumstances you can go straight to a Winding up Petition with just a three day notice letter. (you cant do the same for an individual it must follow a Statutory Demand first)
(but if the debt is disputed then a Statutory Demand would not be advisable and the County Court would be your best option to obtain a Judgment then a 3rd Party Debt Order)
If the debtor is an individual it and under £5000 then only a County Court Summons/Judgment would be advised as the new bankruptcy rules require the debt to be £5000 and over to make someone bankrupt.
If you obtain a Judgement on the debtor then you can make an Application to the Court for a 3rd Party Debt Order on the debtors Bank. This will freeze their account until your debt has been repaid.
As you can see there are many options for you to choose from and you need to be given all options before you start the debt collection process. This is where we come in just contact Nigel and he will go through everything with you free of charge.