Debt Recovery Solicitors Swansea
Our team has a proven track record in recovering debt for businesses like yours.
- enquiries@pgmsolicitors.co.uk
- (01792) 468684
- PGM Solicitors, 120 Walter Rd, Swansea SA1 5RF
Running a business is not always easy. There can be too much red tape and admin, and not enough time to actually do the work. This is often made worse by customers who are reluctant or slow payers.
At PGM Solicitors, we understand that managing a business comes with its challenges, especially when dealing with clients who delay or default on payments.
Such situations can strain your cash flow and divert your attention from core operations. Our dedicated debt recovery team, based in Swansea, boasts a proven track record in efficiently recovering debts for businesses like yours.
Let us handle your debt recovery needs, allowing you to focus on what you do best: running your business.
Talk to our team
Frequently Asked Questions:
What is debt recovery?
This is the process by which unpaid invoices and debts are recovered through a formal court process. Our debt recovery solicitors can guide you through this process and help you with whatever you need.
How do I begin legal proceedings for the recovery of debts?
The first step is to contact a solicitor and have them send the debtor a formal letter requesting that the money is repaid immediately (or within a reasonable timeframe) with legal action being taken if payment is not received. You can decide on a date with your solicitor as to when legal proceedings should begin in the case that you do not receive the payment, and the letter must specify this. You can choose to send the letter yourself, but it is likely to be taken more seriously if it is sent by your solicitor.
Will I need to go to court to recover debts?
No. In cases dealing with uncontested debt recovery claims, the courts will not require you to attend the hearing, except in highly exceptional cases. If you choose to issue court proceedings after receiving our advice, the process will be handled in its entirety by our experienced team on your behalf.
What evidence of the debt do I need to have?
Ideally you will have a written and signed contract. But you may have other documentary evidence. You will also want evidence that you fulfilled your side of the bargain (e.g. a signed delivery note). It will be helpful if there is clear evidence that you made the customer aware of your terms and conditions before the contract was agreed.
Ensure, also, that you keep copies of any correspondence you send while chasing the debt or attempting to negotiate a compromise.
Discuss the quality of your evidence with your solicitor before taking court action, particularly if there is a dispute over the debt.
Can I charge interest on overdue debts?
Your contract may specify a credit period and how interest will be charged on overdue payments. In addition, commercial debts are covered by the Late Payment of Commercial Debts (Interest) Act 1998. Where there are no written terms of credit, this allows interest to be charged at a set rate which is the Bank of England base rate plus 8% from the end of a notional 30 day credit period.
In practice, however, few firms ask for payment of interest (or debt recovery costs) under the legislation unless the dispute has reached the courts. If you do intend to charge interest and collection costs on overdue debts, your best course is to make this clear, in writing – in your terms and conditions, quotations, acknowledgments, invoices and so on.
Our Client Feedback
“I wish to thank you for all the help you have given me in this matter and it was just unfortunate that we didn’t know of you sooner as I’m sure my wife would have had a much more favourable outcome. Should I ever hear of someone needing a feisty solicitor with a genuine sense of justice I will have no hesitation in recommending you for the role.
Huw J
“I can think of no comments or suggestions that could improve an already existing highly efficient service. I found it totally excellent in every way and have every confidence in this company.”
Muriel P
“I was very impressed by the sympathetic way in which my case was handled, the competitive rates of payment and the care and attention that was afforded me – an excellent service which I have already praised to family and friends.”
