If you are concerned about payment of a large debt and think your debtor is in financial difficulty, you should consider fast-track collection. This service uses the statutory demand procedure. It is available for individuals and limited companies but the debt must be undisputed. You will need to supply invoices or a statement of account supporting the debt.
Bear in mind if you are the last creditor in the queue you will be last to get paid.
What do we do?
We prepare a formal demand for either the insolvency or bankruptcy legislation and instruct court officers to serve it on your debtor. If there is no denial within 21 days after service, we can start insolvency proceedings - meaning your recoveries will be maximised in minimal time. If there is a denial and you want to take the matter further, you still have the option to instruct a court action.
How to instruct fast-track
When further action is needed… Judgment Enforcement.