High-Value Debt Recovery for Individuals

This is one of the reasons why our debt litigation lawyers are in demand when clients are faced with a debt recovery problem.

Chasing customers, clients and companies who owe money can be time consuming, infuriating and damaging to cash flow.

Our debt recovery team understands the importance of balancing the impact of bad debts against the cost of recovery which is why our service is tailored to each individual client. We may also be able to act under a conditional fee agreement or an agreement whereby our fees are paid from the amount recovered.

Sometimes writing a letter before action can focus the debtors mind leading to prompt payment, but if money isn’t forthcoming our team is experienced in extracting payment.

Our high value debt recovery experts can assist with:

• Pre-action collection
• County Court proceedings
• High Court enforcement
• Winding-up petitions
• High value debts of over £250,000

Our team’s expertise isn’t limited to debtors within England, having recently taken action on behalf of creditors of an insolvent company chasing debts of many millions both in Europe and beyond.

Recent work includes:

• Litigating a six-figure debt between a finance professional and a private individual investor, against a backdrop of fraud
• Recovering debts across the globe for a global commercial organisation
• Negotiating a settlement before court proceedings, in a complex debt claim, whilst preserving the commercial relationship between two companies
• Advising an international cosmetic distribution agency in relation to managing its debts

We are a partner-led, niche litigation practice based in Central London. In order to provide an exceptional service for our clients, we only offer strategic, high-level advice and representation. As a result, we cannot cost effectively handle debts of less than £100,000.

However, if you are involved in a commercial dispute exceeding this amount, and want a team of fierce litigators determined to get you the results you need, contact Saunders today.

Consult our high value debt recovery experts in London

For a free, no-obligation discussion of how we may be able to help, please get in touch.

Call us on 020 7315 4808 or make an enquiry online.

Why Saunders Law are acknowledged leaders in high value debt recovery

Extensive specialist experience in high value debt recovery

With decades of experience across our high value debt recovery team, we know exactly what to do in a wide range of scenarios to secure the best possible outcome for our clients.

Independently recognised expertise

Our firm has been independently recognised for our legal expertise with strong rankings in highly respected client guides the Legal 500 and Chambers & Partners.

Sensible, pragmatic approach

We take a pragmatic view of high value debt recovery, making sure our approach is aligned with our clients’ overall goals and priorities. This means we will always ensure the options we recommend are cost-effective and reflect key considerations, such as our clients’ reputations and relationships.

Exceptional personal service & client satisfaction

We take pride in the high level of personal service we provide. Clients will always receive a call back the same day following an enquiry and can always speak to one of our partners when required. As a result, we consistently achieve excellent feedback from clients.

Transparent and flexible pricing

We provide clear and open advice regarding the costs involved recovering a high value debt. Various funding options are available to suit different circumstances and we have excellent relationships with litigation funding providers. 

How we help individuals to recover high value debts

Pre-action debt collection

The good news for anyone who needs to recover a high value debt is that our team can usually achieve this without the need for costly and contentious court proceedings. A great many debts can be recovered quickly and cost-effectively simply once our debt recovery solicitors are involved. Having our team of heavyweight debt recovery solicitors in your corner shows the other party that you are serious and that you have the resources and willingness to take the matter further if they do not make payment.

Letter before action for debt recovery

A well-drafted letter before action setting out the details of the debt and the action the client is willing to take is often enough to prompt swift payment. Our debt recovery team can draft a letter before action covering:

• The amount of the debt owed
• The reason for the debt
• Any relevant contracts and agreements, as well as the applicable laws
• That further legal action will be taken if the debt is not repaid promptly
• The date by which the debt must be repaid to avoid further action
• The details of our solicitors

We can then deal with any subsequent routine correspondence with the debtor to arrange payment (if they are willing to take this step). This can make the whole process very simple and stress-free for our clients.

Private negotiation and mediation

In some cases, it may be appropriate to negotiate with the debtor over how to deal with their debt. This might be where they dispute the existence of the debt or the level or the debt, or it may be that they are willing to pay but cannot do so in full and/or immediately.

Our high value debt recovery solicitors can advise clients on these options and whether they are appropriate for their situation. We can then represent our clients in negotiations or help them to prepare for mediation and review any agreement reached.

This approach can be highly cost-effective where there is a dispute over a debt, while allowing our clients to retain control of any agreement reached over repayment of the debt.

County Court proceedings for debt recovery

Should a debtor refuse to pay the amount owed, or should they simply fail to respond to our attempts to contact them, it may be necessary to take the matter to court for a resolution.

Our high value debt recovery solicitors can apply for a County Court Judgement (CCJ) against the debtor, which can act as a strong incentive for them to resolve the matter. If a court issues a CCJ, this means that they are affirming that the debt exists and that the debtor must repay it.

A CCJ will stay on the Register of Judgments, Orders and Fines for six years, significantly affecting the debtor’s credit rating. However, it the debtor pays within one month of a CCJ being issued, they can apply to have the judgement removed from the Register and protect their credit rating. A CCJ can, therefore, be very effective as a debt recovery tool.

If a CCJ does not prompt the debtor to deal with the matter, then we will be able to apply to the court for a range of debt enforcement options to recover the money our client is owed.

High Court debt enforcement

In the event that a CCJ has been issued and the debtor still fails to make payment, our high value debt recovery team will take firm action to enforce debt recovery for our clients.

We can apply to the High Court for various debt enforcement options including:

• Requiring the debtor to attend court for questioning
• Instructing High Court bailiffs to recover the debt
• Making an attachment of earnings order if the debtor is employed (this will require their employer to deduct money from the debtor’s earnings to repay the debt)
• Placing a charging order on the debtor’s property (if the property is subsequently sold, the debt must be repaid from the proceeds)

Our high value debt recovery solicitors are very experienced in using these debt enforcement options, so can ensure appropriate action is taken on our clients’ behalf.

Winding-up petitions

Where a client is owed money by a company and that company is unable to repay the debt, we can apply to the court to ‘wind up’ the company i.e. to place the company into compulsory liquidation. The company’s assets can then be sold to help repay the debt.

A winding up petition can be used if a company owes an individual or business in excess of £750 and the creditor can prove the debt exists. If there are multiple creditors of a company being wound up, then exactly who gets repaid and how much they receive will depend on the circumstances.

Our high value debt recovery solicitors can advise on the suitability of applying to wind up a company, the costs involved and the likely outcome. If a client wishes to proceed down this route, we can then handle the whole process from start to finish.

Our high value debt recovery fees

When pursing a debt, the cost of doing so clearly must remain proportionate to the value of the debt. Our high value debt recovery solicitors understand this and will always make sure the approach we take and costs involved remain sensible relative to the outcome we believe we can achieve.

View pricing information here.

Fixed fee high value debt recovery

For certain matters, we may be able to act on a fixed fee basis where appropriate. For example, drafting a high value debt recovery letter and dealing with any standard correspondence with the debtor can often be completed for a fixed fee.

Our high value debt recovery solicitors’ hourly rates

Where ongoing support is required to recover a high value debt, we will work according to an hourly rate, which will be determined by the level of expertise required. In such cases, we will provide a realistic estimate of costs at the outset and keep clients updated at all times about any costs incurred. This allows our clients to stay in complete control of the cost of recovering their debt.

Consult our high value debt recovery experts in London

For a free, no-obligation discussion of how we may be able to help, please get in touch.