Assets

Assets

We recognise there is a fundamental need to secure your business critical assets, from vacant land, development sites and compounds, to plant, materials and fuel. As a leading provider of sustainable security, we are perfectly positioned to secure, monitor and protect your valuable assets.

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Is the debt owed to you substantial enough to take to court?

Is the debt owed to you substantial enough to take to court?
Is the debt owed to you substantial enough to take to court?

When deciding what action to take against a non-paying customer, it’s important to consider the size of the debt.

Late payments and bad debts cause headaches for businesses of all shapes and sizes. As well as being time-consuming and frustrating to chase, late and non-paying customers can also cause businesses serious cash flow problems.

If you have been chasing a debt for some time and feel you have exhausted all avenues for collecting the debt, then you may be considering turning to the courts for help next.

Before taking your debtor to court, it’s important to consider the pros and cons of doing so, carefully weighing the cost of the process against what you have to gain.

Taking a debtor to court can be an expensive, time-consuming and stressful process and is only usually recommended as a last resort.

Some of the fees involved in taking a debtor to court include:

  • Court fees
  • Solicitor fees
  • Expert witness fees

The exact fees incurred will depend on the size of the claim you are making and the individual circumstances surrounding your case.

Sadly though, unless the amount owed to you is substantial, it may be more cost-effective to simply write off the debt.

Other circumstances that may reduce your chances of recovering the debt owed to you at court include:

  • The debtor disputes the goods or services that you have provided them with.
  • The debtor is bankrupt or in liquidation.

Here at Debt Squared, our team of experts can advise you on the most appropriate way to pursue the debt owed to you. We offer a range of pre-legal debt collection services as well as SCAR legal services. For more information, get in touch with our team for free advice by calling 0800 002 9049.

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