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Debt Recovery Solicitors in Manchester

Debt Recovery Solicitors in Manchester

The services of debt recovery solicitors in Manchester can be necessary in the moment when a company or a natural person has an outstanding debt towards another party. The same applies when the said entities have to recover a debt from a partner, client or any other liable entity. You can find out more in this article.

The procedure through which one can recover a debt from another party is done following specific steps and only in certain situations the case can be brought in front of the court, where a judge will have to enforce a ruling. If you need legal advice or legal representation in this process, our Manchester solicitors remain at your disposal; you must also know that our lawyer has very competitive rates and most of the fees charged for debt recovery procedures are generally fixed.

How can our debt recovery solicitors in Manchester help you?

Regardless if you are a natural person or a legal entity, you can rely on our team for professional legal assistance that will best represent your interests. Our debt recovery solicitors in Manchester have prepared in the list below a short presentation on the ways in which you can benefit from legal representation throughout debt recovery proceedings, as follows:

  • hearing your case and verifying if there is sufficient evidence to start a debt recovery process;
  • if there is, our Manchester solicitors will negotiate on your behalf with the debtor;
  • our team will also maintain a close correspondence with your debtor;
  • our lawyers will use various legal pathways to resolve the situation between you and the debtor, such as mediation;
  • provided that various settlements methods have failed and the debtor did not agree to the terms, our lawyers can represent you in the process of issuing court proceedings, which will be the next step in debt recovery.

What is the data on debt collection in the UK?

Debt collection in the UK is done through the services offered by debt collection agencies or by law firms which have lawyers that are specialized in debt collection procedures, such as our debt recovery solicitors in Manchester. Below, you can find few details on the debt collection industry in the UK:

  • in the period of 2020-2021, the revenue of the debt collection agencies is estimated to decline by 20%, as a consequence of the Covid-19 pandemic;
  • at a national level, there are 694 companies which are registered as debt collection agencies;
  • overall, the debt collection industry employs 12,009 persons;
  • at a national level, between April 2016 to March 2018, the household debt accounted for GBP 1.28 trillion, according to the Office for National Statistics;
  • out of this value, the highest share, of 91%, accounted as property debt, while the remaining 9% represented financial debt.

Debt collection agencies and debt recovery solicitors in Manchester – main difference

Debt collection agencies and debt recovery lawyers generally have the same mission; that is, to recover a debt on behalf of their client, which can be a company or an individual. On paper, both entities have the same rights in addressing a debtor, but they can use different methods.

However, one must know that a debt collection agency is only entitled to get in touch with the debtor through various methods, which generally refer to addressing demand letters to the debtor or other legal ways that are prescribed by the law, in order to establish a contact with the debtor, who will then provide an answer as to whether he or she will repay the debt or not, or will oppose the request, etc.

In practice, addressing to debt recovery solicitors in Manchester will have a more powerful impact on the debtor, as a letter sent and signed by a lawyer will generally be seen by a debtor as having more complicated legal consequences. This is why a formal request to pay a debt sent by a lawyer will determine the debtor to pay, especially in the situation in which the said person does not have any legal grounds to not pay the debt.

Still, over the years, our Manchester law firms have dealt with numerous cases, including cases in which debtors who were legally obligated to pay their debts refused to pay them, even in the case in which a court order was issued. In this particular situation, specific legal steps can be taken, such as: the investigation of the assets of the debtor, bailiff services or bankruptcy.

For more details on how you can recover your debts, we invite you to contact our Manchester solicitors. You can also send us an inquiry presenting your case, the value of the claim, and we will present our fee offer applicable to that particular situation. Our team will also advise on the best legal scenario that should be applied to your case.