Standard Enforcement

Forbes Collect - Play video

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Chasing debtors - it's easily one of the most frustrating yet vital aspects of running a business. Recovering the money owed to you is essential. Without doing so, poor cash flow could lead to severe consequences for your business. Yet, you're not an expert at debt recovery, and you have a company to run. So what do you do?

Turn that frustration into positive action. Speak to Forbes Collect. We are experts in debt collection, and also happen to be solicitors, which comes in very handy. And being regulated gives us an extra advantage.

In short, we deliver a persistant, yet professional approach that leads to prompt payment. Our service is managed through a cloud-based system online. So it's easy for debtors to make payments 24/7, and for you to keep track of our progress. And because we offer "no recovery no fee" and a transparent pricing structure, it's the high success, low risk solution you need, whether you run a small start-up or an established, larger business.

Maximise your chance of debt recovery and boost the amounts recovered. Get connected with Forbes Collect today. Debt recovery made easy.

There are a number of enforcement options you can take to recover your debt once our debt collection team has obtained a judgment for you on your behalf:

Warrant/Writ of Control

Debt Value less than £600

Once our debt recovery team has obtained a judgment for you in the sum of £600 or less, we can make an application for a warrant of control. This warrant instructs a County Court Bailiff to attend the debtor's premises to seize and sell at auction goods to the value of the judgment. There are strict rules that govern the Bailiffs power to seize goods.

Debt value more than £600

Once we have obtained a judgment for you in the sum of more than £600 we will instruct the sheriffs to transfer the judgment up to the High Court to obtain a writ of control. This writ allows the enforcement officer to seize and sell at auction goods to the value of the judgment. There are also strict rules governing the sheriffs. Should the enforcement officer be successful at obtaining payment or an instalment proposal then they will deduct their fees from the amount recovered. These fees are set at a specific level and are payable by the debtor. The sheriffs have to retain the monies for 14 days and then it will be sent to us. Should the enforcement officer be unsuccessful you are liable to pay an abortive fee of £75 plus VAT.

A Statutory Demand

A statutory demand is a written demand for the payment of a debt. The Demand warns the debtor that if the debt remains unpaid after 21 days from the date of service then a Bankruptcy or Winding-up Petition can be presented.

What are the criteria for a Statutory Demand?

  • The debtor has to be a resident/carrying on business in England or Wales for us to prepare a statutory demand
  • The debt value has to be above £750 for companies and above £5,000 for individuals

If you would like to speak to our highly qualified commercial debt recovery team then contact us on 0800 689 4176 or email us on forbescollect@forbessolicitors.co.uk.

Forbes Collect - debt recovery made easy

Forbes Collect

16 Mar 2017

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