Debt Recovery Services
We provide a range
of debt recovery services to businesses across the UK to help them retrieve money that is owed to them. We know that dealing with debtors can be exhausting
and a significant use of your time and resources. We are professional debt
recovery specialists and aim to give you peace of mind that your debts will be
100% recovered. We manage your debt
recovery, leaving you free to run your business.
Our services are bespoke to your business; we will work with you to understand your organisation, keep you fully informed of the process and ensure the best outcome for your business. It is our aim to minimise your debtor days and maximise your cash flow, thereby removing the stress that this causes. Our approach will depend on the debtor and the relationship that you have with them; we will either take a more discreet approach to maintain a long relationship or be more assertive with those you no longer wish to trade with.
We work on a no win no fee basis which means there are no upfront costs, hidden fees or subscriptions to pay.
We keep you updated regularly, and if any response or payment is received from the debtor this will be reported immediately via email or phone. Our aim is to recover your money, including interest and costs where possible, as quickly and effectively as possible.
Our professional debt recovery process
We like to take a careful and measured approach to your debtors, especially if you have a longstanding relationship that you would like to maintain. Once the debt has been referred to us, we will take action within 48 hours and try to make contact with the debtor by phone or email. We will negotiate with the debtor and agree payment plans or mediate on any disputed matters.
When we communicate with your debtor, we will ensure that interest and costs are added to the debt as per your conditions, or under the appropriate Act. Business to Business Debts Interest & Compensation fee is added to the debt under Section 5 of the Late Payment of Commercial Debt (Interest) Act 1998.
Occasionally, court proceedings are necessary to recover commercial debts. We have close relationships with selected solicitors and can manage the process on your behalf, whilst giving you any advice or guidance necessary. We will monitor the proceedings and keep you updated at every stage. We will not undertake court proceedings without your prior consent.
When you issue legal proceedings through the County Court, the debtor will be sent a court form that requires them to pay the debt plus interest and costs within 14 days (not always, sometimes more/less). If the debtor defaults on this payment, the court’s final decision will be to issue a County Court Judgment (CCJ). This gives you the power to take enforcement action to recover the debt and is also recorded against the debtor’s credit record, affecting their ability to obtain credit in future.
Jacksons CRS can organise and manage a wide range of debt enforcement services to collect your current and outstanding court judgments:
High Court Enforcement
We can transfer your County Court judgements to the High Court for enforcement by a High Court Enforcement Officer (HCEO). This is a preferred method of enforcement for most County Courts and will involve an employee of a private company licensed by the High Court to enforce debts of over £600. The HCEO will attend the address that you have for the debtor and possess additional powers over and above a bailiff, including the ability to force entry to commercial premises. The High Court Enforcement Officer will seek to recoup their costs from the debtor, so there is no additional cost to you.
County Court Bailiff
If the debt is below £600 we can help you obtain a warrant of execution and to enforce judgments via HMCS Bailiffs. Bailiffs are employed by the Court and therefore less incentivised to collect the debt than an HCEO. They will also make visits during office hours, whereas a High Court Enforcement Officer can be more flexible.
Statutory Demands & Winding Up
We can organise a Statutory Demand which is a formal legal document requiring the debtor to pay off the outstanding debt within 21 days, either by instalments or a lump sum. Alternatively the matter can be escalated to winding up proceedings. Winding Up petitions can be used for debts of over £10,000. The petition is drafted and sent to the Court, who will seal the petition and give a date for a Court hearing. The petition is then served to the debtor and can be advertised in the London Gazette 7 days after service. This will also freeze the debtor’s bank account, which serves as an incentive to pay the debt quickly. Once the petition has been advertised, other creditors may also wish to support it.
If your debtor owns or has an interest in a property, it is possible to secure your Judgment against the property. Although the charge does not guarantee immediate payment, it does secure the debt and interest will accrue at 8% per annum. It is usually worth getting a Charge against a property if there is equity in the property.
Attachment of Earnings Order
If your debtor is an individual that is employed and you have the name and address of the employer, this is often an appropriate method of enforcement. Once the order has been made, your debt is paid out of the debtor's salary by the employer every week or month. An Attachment of Earnings Order cannot be made against a debtor who is self-employed, unemployed or receiving pension income.
Third Party Debt Order
A Third Party Debt Order is usually made to stop the Defendant taking money out of his or her bank or building society account. The money you are owed is paid directly to you by the debtor's Bank/Building Society from their account. A Third Party Debt Order can also be made against anyone who owes the Defendant money. The debtor will not be notified of this action until after you have served the third party with the Court Order. By this time, their bank account or funds will already be frozen, either in part or full. Timing for a Third Party Debt Order is crucial, because funds are frozen on the day that the Order is received. Therefore, if funds are not available on that day, the order will fail.
If the debtor is attempting to avoid enforcement, we can apply to the court for an order that requires the debtor to attend before a court officer to answer questions with regard to their assets and means. During the appointment, the debtor will be given the opportunity to put forward payment proposals. If these are accepted, the Court will make a Variation Order which can be enforced in the same way as a Judgment Order if the debtor fails to keep to this arrangement.
If the debtor fails attend the appointment, they can be held in contempt of Court and even committed to prison for a short period.
If you have a CCJ or if you require enforcement advice, please email email@example.com.
Lost track of a debtor? This does not mean that a debt is unable to be recovered. Our debtor tracing services help to establish your debtor’s whereabouts and proceed with debt recovery.
We use a range of resources to find debtors, including specialist databases that are not publicly accessible. The more facts that you have about a debtor the better, but we will work wit the information that you have. Our debtor tracing services are always carried out discreetly and in an ethical manner.
Commercial Debt Recovery Service
Whether you have a one-off issue or if you have on going bad debts JCRS will work for you to take away the hassle of chasing and obtaining payments.
We can work within any environment or business industry and we offer a personal, dedicated and professional commercial debt recovery service. We can manage debts of all sizes and volumes. We operate a ‘no collection, no fee’ service.
Every commercial debt is treated individually. Debt information is evaluated on receipt and a decision taken as to the quickest and most efficient debt recovery route.
Dispute Resolution and Management
JCRS Ltd commercial debt collection professionals are able to mediate to quickly resolve disputes without the need for time consuming and expensive litigation through HMCS courts.
Submit your commercial debt recovery requirements today at firstname.lastname@example.org