Business Debt Recovery Lawyers
A cost-effective service
Whilst late payment can endanger the survival of any business, an in-house approach to debt recovery can be both time-consuming and inefficient. That's why it pays to enlist the help of expert debt recovery lawyers.
At Pannone, we combine a first-class debt recovery and enforcement service with value-for-money solutions. We believe that our fees are extremely competitive and dispel the popular misconception that it is expensive to outsource debt recovery to a law firm.
We offer a fixed fee service and only charge statutory solicitor's costs and disbursements, which are recoverable from the debtor when Proceedings are required. Hourly rates only apply when debts become defended, and no commission is charged on monies recovered.
We would be happy to discuss with you discounted fees for bulk instructions.
Can we help?
Our team of debt recovery lawyers have experience and expertise across the broadest spectrum of debt recovery and enforcement. As part of a full-service law firm, we are able to provide an integrated approach to the most complex of debt cases, with clients able to draw on the expertise of other in-house solicitors in areas such as insolvency and litigation.
Whilst we outline on this website some of our main areas of expertise, it is important to emphasise that our service is tailored to your exact needs. We are always pleased to discuss your particular requirements on a no-obligation basis, to recommend a course of action that is most appropriate and minimise the recovery cost to you.
Pre-action collection
- issuing of a Letter Before Action requesting payment within either 3 or 7 days at a charge to be agreed
- whilst this fee is non-recoverable, it covers all work carried out on your behalf up to court proceedings (e.g. further correspondence with debtors)
County Court Proceedings
- issue of Claim Form Proceedings
- dealing with any response to Claim Form
- entry of default Judgment
- we will give best advice on the most suitable way of enforcing Judgment once obtained
- fixed fee and recoverable solicitor's costs only will be charged in respect of the above
Bankruptcy
- recovery of debts from an individual
- generally applying only to higher value debts
- issue and service of Statutory Demand
- issue and service of Bankruptcy Petition
- dealing with final Hearing of Petition
- this is a measure of last resort, as the costs involved are relatively high and, in the event of bankruptcy, you may not recover your debt
Winding-up
- recovery of debts from a limited company
- generally applying only to higher value debts
- will consider if Statutory Demand is required
- issue of Petition and arranging personal service
- advertising Petition
- attendance at Court of Hearing of Petition
- fixed fee
- a measure of last resort, as the costs involved are relatively high and, in the event of winding-up, you may not recover your debts
Defended actions
- when a Defence is first filed, we evaluate its quality and give you an early indication of the costs you are likely to incur
- ever conscious of your best interests, and with a view to minimising your recovery and enforcement costs, we may suggest alternative courses of action, such as: Negotiating a settlement; In the case of small claims, advising you on the necessary steps to see the claim through without our involvement; Consider Mediation
- we will endeavour, wherever possible, to deal with your case within our Debt Recovery team to minimise costs
- if it is necessary to pass your claim over to our Litigation department, we will advise you in advance of the likely costs to proceed, although these would invariably be higher as they would be charged at an hourly rate
To arrange a discussion with a debt recovery solicitor click here or call us on 0800 840 4929.
