Pre-action protocol for debt claims
Is your business owed money? There’s something you need to know …
As of 1 October 2017, a new procedure came into force governing the way in which businesses go about recovering a debt owed to them by either an individual or a sole trader.
The pre-action protocol for debt claims is now up and running, and unfortunately it cannot be ignored.
The debt protocol sets out mandatory information required before a creditor can issue court proceedings against a debtor.
Whilst we consider it to be in everyone’s best interest to avoid court proceedings, it’s hard to ignore the fact that recovering debts will have major cashflow implications for businesses. It’s all well and good trying to keep unnecessary disputes out of court, but an intransigent debtor now has much more time to avoid paying their debts.
We recognise this as a serious issue, and that is where we are able to help.
With a proven track record in recovering debts owed to our clients, and with highly competitive fees, we guarantee an exceptional quality of legal service.
Usually it would not make commercial sense to instruct solicitors to recover debts, particularly those worth £10,000 or less. However, our legal fees are a fraction of the cost of our competitors, enabling us the ability to offer a valuable service to businesses.
If you would like to discuss how we can assist you in recovering your debts quickly and efficiently, contact:
Justine Soutter – Head of Dispute Resolution & Employment
t: 03000 419709
This Pre-action Protocol applies to any business (including sole traders and public bodies) claiming payment of a debt from an individual (including a sole trader). Click here to download a copy of the Protocol.Download