Debt
Recovery

Efficient cashflow and prompt payment of debts is vital to most organisations – particularly small and medium sized businesses. When dealing with debt we believe that time is key – if you fail to act quickly you could find that the prospects of obtaining payment diminish, or you risk becoming one of many creditor with poor prospects of recovery. 

Our Debt Recovery team have experience at all stages of the claims process with debts of all values. We can accept single instructions, alternatively for businesses that have large numbers of debtors we can facilitate bulk claims and can discuss preferential rates for this work.

Stage 1 – Letter before claim

Where the debtor is a consumer we can issue a letter before claim (that complies with the pre-action protocol on debt claims) for £12 + VAT

Where the debtor is a business we can issue a letter before claim for £10 + VAT

Stage 2 – Issuing a claim

If the claim is not defended within 14 days, or 28 days if an acknowledgment of service is filed, we will request default judgment which will cost £24.00 (inc.VAT)

If the Defendant(s) file a defence to your claim we will work with you in order to progress your claim, such work will be at an additional cost and this will be communicated to you at the point of engagement. 

Stage 3 – Enforcement

Upon judgment being obtained we can work with you in order to enforce the same, some of the most common methods of enforcement.

The Debt Recovery team at Binghams can also advise on international tracing and recovery where necessary, the fees for this will be discussed with you prior to engagement and will depend upon the jurisdiction and level of work involved. 

FAQ'S

Explore our FAQ’s to learn more, please use the form below to get in touch!

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  • Pensions
  • PPI
  • Mortgages 
  • Stocks and shares ISAS 
  • Hedge Funds
  • Investment Trusts
  • Annuities 
  • Unit Trusts and Open-Ended Investment Companies 
  • Venture Capital Trusts
  • Investing in Shares

You should contact our specialist financial mis-selling team today, for a free discussion to assess your eligibility.

Our experienced team would be happy to assist you in advising the strength of your claim, upon review of all documentation you can provide in relevance to the claim.

From this point, our team will handle all aspects of your claim, taking the pressure and anxiety away from an already stressful situation. 

Our specialist team would not charge you hourly – our team work on “no win, no fee” basis meaning should the case not proceed, there will be no charge to you.

Our experts understand you may be cautious with finances following such an event, and work tirelessly to provide transparency and professionalism through their service. 

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