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Debt Recovery in a Recession

"Bad debt" are two words that can become yours or your business's worst nightmare and none more so than in the current economic climate. As more and more individuals and businesses are finding themselves on the verge of financial, many will begin to search through their outstanding accounts to see where they can ease their cash flow problems. One answer to this problem is to pursue those individuals and businesses that owe you or your company money.

Cash Flow Problems

It has to be borne in mind that at this moment in time, individuals and businesses may have genuine cash flow problems and that want to but simply cannot pay. Those that fall into this group may be amenable to sitting down and working out a suitable repayment plan without resorting to legal action. Not only will this preserve any relationship with the debtor but you or your company may recoup some, if not all of any outstanding debt.

Debtors That Will Not Pay

However, the above category needs to clearly distinguished from the debtor that will not pay. Should you or business be faced with this kind of debtor, Hattons Commercial can help.

We have a high success rate in recovering debts of varying levels on behalf of clients through means of correspondence and if necessary the issuing of Court proceedings or winding up/bankruptcy petitions.

Fixed Fee Debt Recovery Package

In addition, we offer our client's a fixed fee debt recovery package for undisputed debts of £5,000.00 or less.

Our fee structure is below:

• Letter Before Action - £10.00 plus VAT

Fees if Court proceedings are necessary -

Debt                            Recoverable Costs       Hattons Costs

£50.00 to £500.00         £72.00 (no VAT)           £140.00 plus VAT

£501.00 to £1,000.00     £92.00 (no VAT)          £160.00 plus VAT

£1,000.01 to £5,000.00  £102.00 (no VAT)         £200.00 plus VAT

• Court Issue Fees - £25.00 to £100.00 (Recoverable)
• Enforcement Fees - £50.00 to £100.00 (Recoverable)

If you or your company have debtors that will not repay money that is due and owing to you, please contact Andrew Bailey on 08000 111 303 or email andrew.bailey@hattonslaw.com

Alternatively fill in the call back request form to the right of this screen.

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