Menu

News Article

Debt Collection

A chart to help you decide if the Courts or Winding Up is your best option to get your debtor to pay

By CreditMan Monday, June 9, 2014

If you are like most financial and credit professionals, you will want to avoid taking your debtors to court to collect your money.

The reasons for this are obvious.

Your costs might outweigh the value of your debt. Your debtor might go insolvent before you get to court, meaning you won’t get paid at all. And the courts are busy, in fact we are seeing average waiting times of 3 to 4 months for hearings to be listed

So you might be considering commencing or threatening winding-up proceedings to get paid.

But is this right for you? Does this give you the best chance of collecting your debts?

Like many aspects of the law, it is not a simple decision.

So the lawyers FB Debt, an award winning division of Flint Bishop Solicitors, have created a simple chart for you to use. It gives you, in simple terms, the pros and cons for both routes.

After you read it, you can then decide which – if any – route is right for you.

Click here to download yours for free.

It might just give you an answer if you are teetering on the edge of ‘shall I / shan’t I’.

For more information on Flint Bishop’s Debt Recovery and Commercial Litigation services contact Peter Littlefair on 01332 340 211 or visit www/fbdebt.co.uk

Read more at http://www.fbdebt.co.uk/2014/06/can-help-avoid-courts-right-business/