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debt recovery

 


experience

The following is a statement of FSP’s debt recovery experience. The matters are described in general terms to protect confidentiality. The list is not intended to be exhaustive, but illustrative. Our specialist lawyers have an extensive range of experience in advising in this field. Please contact us for further information.
 

Removals industry

Acting for a large national removals company in recovering debts generally, including the following:

  • recovering £4,949.60 at a cost of £25 within three weeks of receiving instructions (letter of demand);

  • recovering £142,000 at a cost of £96 within one month of receiving instructions (letter of demand and chasing by telephone);

  • recovering a total of £136,000 at a cost of £1,400 (sending letters of demand, issuing three sets of proceedings and receiving payment of the principal debt, costs and interest).
     
Marketing

Acting for a marketing company in recovering its debts, including recovering £122,000 by staged payments at a cost of £400 (letters of demand, negotiating instalment payments).
 
Communications
industry

Acting for a communications systems company, enforcing a judgment and obtaining security for a debt of over £100,000 (initial correspondence and obtaining an interim and final charging order).
 
Private investor

Acting for a private investor, recovering £70,000 through protracted insolvency proceedings at a cost of £5,800 (letters of demand; statutory demand; taking conduct of another creditor's bankruptcy petition; negotiating a settlement).
 
Glazing company

Acting for a glazing company, recovering £29,500 at a cost of £175 within three weeks of receiving instructions (letters of demand; threatened insolvency proceedings; chasing by telephone).
 
Professional fees

For a firm of solicitors, recovering £16,000 at a cost of £750 (letters of demand; statutory demand; protracted settlement negotiations).
 
Electrical retailer

For an electrical retailer, issuing County Court proceedings, agreeing settlement terms, and recovering £14,000 at a cost of £1,100.
 
I.T.

For an IT company, recovering £12,500 within four days of receiving instructions at a cost of £240 (financial searches; advising client; letters of demand).
 
Manufacturing
industry

For a manufacturing company, recovering £4,700 at a cost of £450 (letters of demand; issuing proceedings; obtaining judgment in the County Court; transferring judgment to the High Court; instructing High Court Sheriff).
 
Trade Association

For a trade association, recovering £2,700 at a cost of £25 (letter of demand).