Business Debt Recovery
Gibson Hewitt are Corporate Recovery experts. We have been helping companies recover overdue business debts for over 20 years.
To survive in business it is of paramount importance to collect your debts quickly and efficiently. When companies or customers owe you money and won’t or can’t pay and you think you have exhausted all your options contact us. We will assist you in the most effective Business Debt Recovery collection techniques.
You may be concerned whether commencing litigation or other proceedings would deteriorate your relationship with your customer. But, is a customer who fails to pay you really the sort of customer you want?
Court Proceedings – County Court proceedings are very simple to instigate and are generally the most suitable option where a debt is in dispute. We are happy to review whether this is the appropriate course of action and if so suggest whether you should act as litigant in person or appoint solicitors.
Often even following the Court granting a County Court Judgement, (“CCJ”), in your favour, your customer still will not or cannot pay. In these circumstances our experience as Licenced Insolvency Practitioners is vital.
Statutory Demands – A very useful Business Debt Recovery tool where you either have already have a CCJ in your favour or the customer has admitted liability, (ideally in writing), is to issue a statutory demand. A Statutory Demand can be used to ask for payment of a debt from either an individual or a company. On receipt of a statutory demand, the debtor has 21 days to either settle the debt or reach an agreement to pay.
Petitions for liquidation or bankruptcy – Once your customer receives the Statutory Demand, they will often prioritise the payment of your debt in front of any others and no further action is required. However, if no payment is received within 21 days, bankruptcy or winding up proceedings can be commenced.
This is a court process which can involve significant upfront court fees. We can advise you of the merits of escalating your Debt Recovery action to this level. Such advice will typically depend on the amount which remains unpaid and the likelihood of your customer being capable of paying. We can assist in these proceedings and then take appointment as either the Trustee in Bankruptcy or Liquidator. Your court fees and petitioning costs can then be paid in priority to all other creditors from our subsequent realisations.
Contact us now to book a FREE 1 hour confidential Business Debt Recovery consultation with no obligation to proceed. We will quickly analyse your situation, talk through your options and guide you smoothly through the best Corporate Recovery solution for you and your business.
As licenced Insolvency Practitioners we are a firm you can trust to resolve your business debt recovery problems fast. Our priority is to protect you and remove the stress of cash flow problems so you are able to remain focussed on running your business.