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How to recover business debts
We understand recovering outstanding sums owed to your business can be a time-consuming and frustrating experience. We act for companies of all sizes and from a wide range of sectors to ensure debts are recovered as quickly and effectively as possible. You can find out more about our commercial debt recovery services here.
Here, we provide an outline of the steps that can be taken to recover commercial debts successfully. If you would like us to assist, please call us today on 0141 258 4117 or complete our online enquiry form.
To discuss your circumstances and get the advice you need, get in touch today
Or complete our online contact form and we will get back to you without delay
First Steps
When your customers fail to pay their debts it is always best to take steps to engage with your debtor to try to resolve matters before taking legal action. It may be that they have simply forgotten to pay, and a gentle reminder could be sufficient to remedy this quickly. However, there will be cases when your debtor refuses or is unable to pay.
Your debtor should be given fair warning that you are considering legal action and provide a reasonable period to pay to avoid court action. What constitutes a ‘reasonable period' will depend on the circumstances but in most cases, seven days will be sufficient.
Raising an Action
Enforcement
A range of enforcement options are available to unpaid creditors and we can advise on the most appropriate in the circumstances. These include:
● Statutory demand● Bankruptcy● Arrestment of the debtor’s assets or bank account● Earning arrestment – deducting money from your debtor's salary● Inhibition – preventing your debtor from selling property● Attachment – leading to the sale of the debtor’s property
Contact our Commercial Debt Recovery Lawyers Glasgow, Scotland
For comprehensive commercial debt recovery advice, call Morgan Legal today on 0141 258 4117 or fill in our online enquiry form.
Get in touch
Regent House, 113 West Regent StreetGlasgow, G2 2RU
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