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Covid-19: Financial security and debt recovery

2nd April 2020

Covid-19: Financial security and debt recovery

At these uncertain times, it’s more important than ever to have financial security. But what happens when that security lies in the hands of someone who is not willing to pay their debts? Debt recovery manager, Arshad Mohammad explains how our 'no recovery, no fee' strategy helped a recent client to recover his assets.

Our client is a commercial landlord and managing agent that owns and manages a large property portfolio on a national basis. Our client was owed service charge and rent arrears from September 2019 to December 2019 by Company S in the sum of around £4,200.00. Company S were not disputing the invoices, merely ignoring our client. Company S eventually left the premises without paying, which meant that our client had to terminate the contract.

Our client continued to pursue Company S but to no avail. We were instructed on a 'no recovery, no fee' basis, as our client was reluctant to write the debt off but wanted to give it one final push through our debt recovery strategy.

After taking instructions and reviewing the relevant paperwork from our client as well as using our intel to ascertain the prospects of recovery from Company S, we sent our letter before action tailored for our client and specific for Company S. We obtained email addresses of Company S from our client to send the letter by post and email to ensure Company S received it.

Following receipt of our letter before action, Company S paid the balance in full directly to our client.

This once again shows that regardless of how unlikely you believe that you will recover the debt, it is always worth pursuing it through our 'no recovery, no fee' strategy before writing the debt off. Our client could have been writing off almost £4,200.00 had they not instructed us, however this only cost them £285.00 plus VAT as it was a successful recovery and they recovered the full amount from Company S.

If you would like us to review your aged debt report and want a no obligation chat, please do not hesitate to get in touch with me, Arshad Mohammad, on 07595 657642 or arshad.mohammad@higgsandsons.co.uk or Julia Lowe on 07912 121805 or julia.lowe@higgsandsons.co.uk

Full details of our 'no recovery, no fee' pricing structure can be found by clicking here: Debt Recovery Fixed Fees

If you have any other general queries or concerns that you feel we can assist with, please email supportingyou@higgsandsons.co.uk and somebody will get back to you as a matter of urgency.

 

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Brierley Hill
West Midlands, DY5 1LX

Email: law@higgsandsons.co.uk
Call Us: 0345 111 5050

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