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Debt Collection

We are Commercial Debt Recovery legal specialists.

If you have a debt that needs recovering then we can help so  please call us to have a free no obligation chat.

It is a concern for any business if they encounter debt issues.

It can affect the financial side of the business and could result in a drastic outcome.

It is important that you have a debt collection plan in place to avoid this happening.

Please call us for a free no obligation chat on 0800 3 10 11 12

Credit Control

Within a business, an important aspect to consider is to structure effective debt collection and credit control policy. Cash flow is linked directly to the business’ approach to credit control. If debt collection is not commenced, and you have liability to pay VAT and tax, you will incur that obligation regardless of whether you acquire outstanding debt. Furthermore, if you do not construct an effect debt collection policy, you will experience loss of interest on money held in account.

Claiming Interest

When supplying goods and services to customers, you will evidently include a time frame for payment but it is highly recommended the inclusion of The Late Payment of Commercial Debts (Interest) Act 1998 which implies into a contract for sale of goods or supply of services a term that debt collection comprises simple interest from the day payment falls due until it is remunerated in full.

If you have to pursue debt collection through the court, it is important that you include an interest claim under section 69 of the County Courts Act 1984. The present interest rate is 8% per annum.

The Cost Implications Of Going To Court

The cost for any litigation matter can be expensive and Court fees are unavoidable and will add further to the expense. As a business, proportionality should be considered between the amount of debt outstanding and the cost of going to court. Understandable, every business suffers loss from time to time.

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Why Use Seatons?

  • Practical sensible help and information
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  • We care about you and fight for you
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  • We can help resolve your issue quickly & easily

Covid19 Information

WE ARE STILL OPEN FOR BUSINESS HOWEVER, OUR FRONT DOORS WILL BE CLOSED TO THE PUBLIC UNTIL FURTHER NOTICE. For us all to be as safe as possible, our preference will be to interact with clients by telephone, email and/or zoom meetings ONLY. We would ask that if you have to drop any papers off at our offices, you use our Post Box unless you need anything copying, in those cases please knock the door and one of our receptionists will deal with you at the front door but only if you are wearing protective face coverings. If you require further assistance then a member from the relevant department will telephone you thereafter to discuss. We hope you understand that this is to safeguard you, our staff and to limit as much contact as possible. We may take a little longer to respond to enquiries and deal with matters. Please bear with us. FOR MORE INFORMATION CLICK THE BUTTON BELOW.