Ways
You Can Help in the Recovery of your Debt
The key to a successful Debt Recovery claim is knowledge about the debtor:-
• Make sure you have an accurate record of who your debtor is (ie are they an individual, sole trader, partnership, limited company or public limited company). The Companies House website is very helpful to check information on Limited Companies, with certain information provided free of charge.
• Ensure you have the debtor’s full name, address and telephone number. It is also helpful to keep copies of the debtor’s letter-headed paper.
• Try to find out details of any assets belonging to the debtor, particularly details of vehicles, property or securities. This will assist in the enforcement of any Judgment obtained.
• Make a note of the debtor’s bank account details. If these are not provided voluntarily then you could take a note of this if the debtor has at any time paid by cheque.
• If your debtor is an individual then having details of their date of birth will help enquiry agents trace the debtor if they are not found at the address initially provided by them.
• It also helps to take employment details from individuals. If Judgment is obtained against the debtor and the bailiffs are unsuccessful, an attachment of earnings may be a successful and alternative form of enforcement.
Before deciding whether to commence Debt Recovery proceedings, you should
consider the following:-
• Do you know who the debtor is?
• Is the debtor worth suing?
If you are unsure, then it is possible to carry out different searches. You may want us to carry out a search of the Registry of County Court Judgments which will reveal any past Judgments obtained against that person. The cost of each search of the register is £4.50. Alternatively credit reports can be obtained, the cost of which varies depending on the information requested. These can be carried out against companies, however please note that as of November 2004, due to changes in the data protection laws, it is not possible to credit search on an individual without that individual’s consent and their date of birth.
• Have you dealt with all genuine queries and disputes?
• Have all practical steps been taken to recover payment?
• Have you got all of the necessary supporting documents and evidence to support your claim should it become defended?
If the answer is yes to all of these questions, then it is time to attempt
to recover the money that is due to you.