Key steps to recovering debt
Unfortunately, businesses are likely to be seeing the effect of Covid-19 for a very long time.
The most obvious losses will arise from customers defaulting on payments. This will be particularly detrimental to businesses who have been unable to operate during lockdown or are trying to rebuild after a period of uncertainty. So, what is the answer?
At Agri Advisor we are here to help. We offer a bespoke service enabling us to run a debt matter from start to finish.
This means initial chasers to the debtor, negotiating with them, sending them a letter of claim and dealing with court proceedings where necessary.
With the help of tracing agents we can trace the customer and should they fail to make a payment once court proceedings have been concluded, our team can assist in selecting the best method to effect enforcement depending on the circumstances and what is likely to be the best way of securing the debt.
Examples include high court bailiff, charging orders and attachment of earnings orders.
Please note that the limitation period is six years, and this is triggered when the client defaults on the payment.
Iona Meredith, Agri Advisor
