Unfortunately, unpaid debts are an ever increasing problem. Ensuring that debts are paid on time results in improved cash flow, which in turn can result in an increase in growth and the success of your business.
Debt recovery claims rely upon a contract being enforceable between two or more parties. A contract will be enforceable if:
- There is an agreement between the parties to the contract;
- Each party to the contract obtains a benefit or suffers a detriment in return for their promise within the contract; and
- The parties to the contract show an intention to create legal relations.
In debt recovery claims, it is entirely common for the contract to contain terms that involve one parties to the contract paying an agreed sum in exchange for the other party providing goods or services in return. Frequently, the party providing goods and services does not receive payment by the agreed date. In those circumstances the paying party is in breach of contract, and the party providing goods and services must take steps to recover the debt.
Our debt recovery team provide a business debt recovery service that is simple, effective and fast. In every case we will take time to understand your business needs, your aims and objectives and the impact each method of debt recovery may have on your commercial reputation. It is incredibly important to us that your business gets the best net return on your debt recovery services.