Below is an example of a recent business debt recovery matter which we dealt with, which resulted in our client receiving full payment of the debt plus interest and costs within 24 hours of our letter of claim being sent. 

Background

Our client was contacted in regards to carrying out building works at a gym in Bolton. Our client sent its quotation for the works to be carried out prior to the works commencing, and our client’s customer accepted this quotation. Our client then carried out the building works and raised an invoice for the works done. When our client’s invoice remained unpaid for three months, our client instructed Myerson’s commercial litigation team to demand payment of the outstanding debt. 

Letter of Claim

The first step we took was to send the debtor company a letter of claim in accordance with the Practice Direction on Pre-Action Conduct and Protocols, which is contained in the Civil Procedure Rules (CPR). This is the initial step that has to be undertaken when pursuing an unpaid business debt.

The letter of claim set out the background to the matter, the principal debt owing and the interest and costs which had accrued on the principal debt. 

Payment 

Within 24 hours of our letter of claim being sent to the debtor company, our client informed us that it had received payment of the debt plus the additional interest and costs in full. This was a great result for our client because by sending only one letter to the debtor, our client fully recovered its debt plus additional interest and costs.  

Here to help

If you would like further information about how we can help your company recover its business debts, please do not hesitate to contact a member of our Corporate Debt Recovery Team on 0161 941 4000 or email the Corporate Debt Recovery Team.