Specialist debt recovery solicitors
Holmes & Hills’ debt recovery solicitors successfully recover debts in 91% of cases*.
Holmes & Hills has a team of specialist debt recovery solicitors that specialise in recovering debts owed to businesses.
Our fixed-fee debt recovery service for undisputed debts includes:
- A 91% success rate
- A single fixed-fee with no hidden charges
- No commission payable on amounts successfully recovered
- 96% of successful recoveries made at Stage 1
- Advice on claiming compensation from the debtor
- Advice from your lawyer at each and every stage of the debt recovery process
Holmes & Hills' debt recovery solicitors achieve a 91% successful recovery rate by making persistent, formal legal approaches to your debtors, which cannot be ignored.
You can quickly reduce the amount of bad debts your business writes-off each year and improve cash-flow by minimising the amount of outstanding monies owed to it.
This is achieved by improving the effectiveness with which your business recovers monies owed to it by your customers and clients in the form of unpaid and overdue invoices.
May I express my gratitude to the staff of Holmes & Hills for their speedy and efficient debt recovery service."
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Fixed-fee debt recovery solicitors
Our debt recovery solicitors provide a unique fixed-fee debt recovery service that separates the process of recovering an undisputed debt into three distinct stages of escalating seriousness. There is a single fixed-fee associated with having a debt recovery solicitor implement each individual stage. In 96% of successful cases, debts are recovered at Stage 1, making the service extremely cost-effective*.
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Stage 1: Solicitor’s letter and chasing call to your debtor threatening County Court or insolvency proceedings
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Stage 2: Issuing a County Court claim or statutory demand against your debtor
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Stage 3: Taking enforcement action
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Download an electronic copy of our debt recovery service brochure for full details and fixed-fees for implementing each stage.
The fixed-cost of recovering your debt will depend on the total amount of debt outstanding, but fees for Stage 1 start at just £55 +VAT. 96% of successful recoveries are achieved at Stage 1*.
Our innovative and fixed-fee debt recovery service enables you to decide, from the outset, exactly how much you wish to invest in recovering a bad debt and how far you are willing to take legal proceedings in each case. This will depend on the value of the debt, the number of outstanding debts and the debtors financial position. If you are uncertain as to whether you wish to chase a particular debtor for payment, our debt recovery solicitors can give you some initial advice on viability to help you decide.
Download an electronic copy of our service brochure for full details and fixed-fee pricing.
Claiming compensation from the debtor
Under the Late Payment of Commercial Debts (Interest) Act 1998 you are entitled to recover compensation from other businesses, due to their late payment of your invoices. This compensation is in addition to their repayment of the principal amount owed. Homes & Hills' debt recovery solicitors recover compensation for clients in 73% of successful cases*.
If we are successful in recovering compensation, it will go towards covering the cost of instructing Holmes & Hills debt recovery solicitors to recover the debt on your behalf. We will always seek to recover compensation from the debtor: however, this can only be recovered where the debtor is a business.
The amount you are entitled to recover is dependent on the amount owed and the number of outstanding debts. Your debt recovery solicitor at Holmes & Hills will advise you on seeking this compensation.
Recovering debts where the debt is disputed
If you debtor claims that they do not owe the amount you are demanding, or they owe you a lessor amount, this will fall outside of our fixed-fee debt recovery service as this will often be deemed a contractual dispute. We can still however offer you the specialist advice you need to recover your debt.
Call our Debt Recovery Team today on 01376 320456 (Essex) or 01787 275275 (Suffolk) to discuss your disputed debt with a debt recovery solicitor. We will advise you on what recovering the debt will involve and provide you with an estimate for undertaking this on your behalf.
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*Success rate based on the results of the 159 most recent debt recovery instructions received (and closed) as at 23rd May 2018.
Work highlights
- Acting on behalf of a distribution company. Successfully recovered payments against outstanding debts, and in some cases entered into instalment agreements to ensure full payment of debts.
- Acting on behalf of a publishing company. Recently advised on the appropriate contracting party for pursuing a claim, and recovered full payment from the group of debtor companies pre-action.
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