For any company, especially in difficult trading conditions, it's essential that you stay on top of your cash flow. It may be bothersome, time-consuming and frequently expensive to keep chasing people and businesses that owe your small business cash. If you let your debtors to become late on any obligations, there may be significant effects for you personally or your organization.
Our litigation solicitors are based in Glasgow, Shawlands & East KIlbride and concentrate in recovering both commercial and individual debts due Responsible Debt Collection in Emerging Markets - IFC to our clients in Scotland -- quickly!
We act for all kinds of companies in Scotland and also the most common kinds of debt recovery comprise invoice retrieval, loans, building contracts, insolvency situations, consumer debts and more sophisticated contract disputes.
How do we help you recover debts?
Send us the particulars of your debtors FREE OF CHARGE. Using our specialist systems we will find out for one of that the prospects of recovery from your debt(s). When the prospects of recovery are all good, we advise you on the best routes -- these can comprise, for example, sending a letter of demand, which can provoke the debtor into paying their debt immediately without needing to resort to the courts. However, in most cases we litigate. It is as straightforward as that!
After explaining your choices and, even if we identify that litigation is the ideal route for you, we would raise a court action from the Scottish courts (generally Sheriff Court, although Court of Session in Edinburgh may be suitable in certain conditions ), looking for immediate repayment of the debt, along with interest on the debt and some other expenses due. In certain cases involving bigger debts, ancillary measures will be taken, like'freezing' money in the borrower's bank account or asking the court to block the lien from selling their home or property before the debt has been repaid.
Recovering Interest on Debt
It can be challenging for companies to manage their cash flow and keep their business operating whenever they don't take sufficient actions to recoup debt because of them.
If your company is made cash, you must aim to recover that debt whenever possible (talk to us). When you pursue an action to recover your debt, then you're eligible to look at here now seek interest on the amount to the extent the payment is late.
Our Scottish debt recovery solicitors are specialists in this area and we'll act in your behalf to make certain that you get the MAXIMUM payment owed to you under Scots Law.
The amount of interest which can be retrieved is generally calculated at 8% above the base rate, beginning 30 days after the debt is due. The expected date for repayment in respect of goods or services would be the later of the date of delivery of their merchandise or services, or the date on which notice (like in the kind of an invoice) was supplied to the buyer of the sum of the debt.
The important point to note is that if debt is due to your company and the payment late, we'll constantly want to regain interest on such debt to you and we appreciate how significant the retrieval of these amounts can be to your business.
Speak to our Debt Recovery Pros in Glasgow, Edinburgh, Debt collection Consumer Financial Protection Bureau Inverness & Aberdeen, Scotland
Based in Glasgow, Shawlands and also East Kilbride, we provide our clear and sensible legal solutions to people across Scotland including those from Airdrie, Edinburgh, Motherwell, Bellshill