October 22, 2019

Debt Recovery to Benefit Your Business

As a business owner, you will be well aware that unpaid debt can severely impact cash flow. Recovering unpaid invoices can be tricky and time consuming, which is where a solicitor to implement debt collection can assist, to save your business time and money. The below case study demonstrates just how valuable debt recovery can be for a business.

Working with leading firms across the UK

Ernest Doe & Sons Ltd are a prominent agricultural supplier across the South and South-East of England, established for over 100 years. For many of these years, they have been coming to Holmes & Hills for debt recovery services.

Recovery of £10,000

When Ernest Doe approached Holmes & Hills debt recovery specialist Angela Watson, they were owed almost £10,000 from a large plant hire company. The debt spanned over 3 separate invoices.

The first step in the debt recovery process was to send a solicitor’s letter, detailing the amount owed, and threatening county court proceedings if the debt isn’t cleared within 7 days. Holmes & Hills debt recovery solicitors have a 96% success rate at this first stage, achieving minimal fees and maximum efficiency for our clients.

Final result

After 7 days with no response, Angela chased the debtor by phone and email. This resulted in immediate payment of all money owed, plus interest and compensation. This was a brilliant result for Ernest Doe, and another successful story of debt recovery for Holmes & Hills.

Accounts manager for Ernest Doe said, “Holmes & Hills professional and personal approach has enabled us to understand the complexities of the legal situations we encounter, and as a result we have reduced our aged debt considerably."

Reducing debt for your business

If your business could benefit from debt management, Holmes & Hills offer fixed fee debt recovery services. Holmes & Hills’ debt recovery solicitors successfully recover debts in 91% of cases*. For initial advice, contact Harry Grant on 01376 320456 or email hcg@holmes-hills.co.uk.

*Success rate based on the results of the 159 most recent debt recovery instructions received (and closed) as at 23rd May 2018.

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