For any business, particularly in difficult trading conditions, it's essential that you stay in addition to your money flow. It can be frustrating, time-consuming and frequently expensive to maintain chasing individuals and businesses who owe your business cash. Should you enable your debtors to be late on any obligations, there may be significant consequences for you personally or your company.
Our litigation solicitors are based in Glasgow, Shawlands & East KIlbride and concentrate in recovering both industrial and personal debts due CSRS Inc: Professional Debt Collection Agency in Rockville, MD to our clients in Scotland -- fast!
We act for all sorts of companies in Scotland and also the most common types of debt recovery include invoice recovery, loans, building contracts, bankruptcy situations, customer debts and more complicated contract disputes.
How can we help you recover debts?
Send us the particulars of your debtors FREE OF CHARGE. Using our expert systems we'll find out for you the prospects of recovery of your debt(s). When the prospects of recovery are all great, we counsel you on the very best paths -- these may include, for example, sending a letter of demand, which may provoke the debtor into paying their debt immediately without needing to resort to the courts. However, in most cases we litigate. It is as simple as that!
After describing your options and, even if we identify that litigation is the best route for you, we'd raise a court action in the Scottish courts (generally Sheriff Court, though Court of Session in Edinburgh may be right in certain circumstances), seeking immediate payment visit our website of the debt, along with interest on the debt and any expenses due. In certain circumstances involving larger debts, ancillary steps will be obtained, like'freezing' cash from your debtor's bank accounts or requesting the court to block the borrower from selling their own house or land until the debt has been repaid.
Recovering Interest on Debt
It may be hard for companies to handle their cash flow and keep their business running if they don't take sufficient steps to recover debt for them.
If your company is owed cash, you should aim to recover this debt whenever possible (speak to us). When you pursue an action to recover your debt, you are entitled to look for interest on the sum to the extent the payment is overdue.
Our debt recovery solicitors are experts in this area and we'll act on your behalf to ensure that you get the MAXIMUM payment owed to you under Scots Law.
Concerning the law in this region of debt recovery, the UK Government has introduced legislation to provide companies with a statutory right to claim interest on late payment of commercial debt. The quantity of interest which could be retrieved is generally calculated at 8% above the base rate, starting 30 days after the debt is expected. The due date for repayment in respect of goods or services would be the later of either the date of delivery of those merchandise or services, or the date on which notice (such as in the kind of a statement ) was supplied to the purchaser of the amount of the debt.
The key point to notice is that if debt is a result of your business and the payment overdue, we'll constantly want to recover interest on such debt to you and we love just how significant the retrieval of such sums can be to your business.
Speak to our Debt Recovery Pros in Glasgow, Edinburgh, Do You Know What a Collection Agency Does? - Forbes Inverness & Aberdeen, Scotland
Based in Glasgow, Shawlands and also East Kilbride, we supply our clear and sensible legal solutions to people across Scotland including those from Airdrie, Edinburgh, Motherwell, Bellshill