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When to Use Debt Recovery Solicitors
Debt recovery solicitors provide a type of service that can be used in circumstances where money is owed to a creditor. With their legal knowledge and experience, debt recovery solicitors are able to offer advice and assistance on the full range of options available to recover the outstanding funds, including court proceedings, if this course of action should become necessary.
As an alternative to debt recovery solicitors, a debt collection agency could be used. However, the services of a debt collection agency might be limited to claiming outstanding payments and they might not be in a position to continue with the process if there is a dispute about the amount owed or level of repayment.
Using a debt recovery service can be helpful simply to show a debtor that the matter is being taken seriously. A letter from a firm of solicitors or a debt collection agency gives a clear message that the matter is likely to be pursued if the outstanding amount is not received.
If the amount owed is small and the circumstances are straightforward, it might not be worthwhile involving solicitors, particularly if the cost of legal action would outweigh the amount of debt. For small claims, it is often possible to handle matters without the help of a solicitor, and bring the case to a small claims court without representation. However, if there are large amounts of money involved, complicated circumstances or a dispute about the money that is owed, then it is often sensible to seek help from a solicitor or debt recovery service.
To find a solicitor, a personal recommendation can be invaluable. However, consider what the firm is offering, whether there is a specialist debt recovery team and if a mediation or dispute resolution service is available as an alternative to the courts. Debt recovery solicitors specialise in this area. Also, check if there are any hidden costs, whether upfront payment is required, and how the charges are calculated.