Letters of demand and statutory demands
Frequently, the first step in the debt recovery process is issuing an effective letter of demand. Often a well-drafted letter of demand from a lawyer is sufficiently compelling for the debtor and is all that is required to recover your debt. However, if we encounter resistance, we can engage in cost-effective negotiations with the debtor if deemed appropriate, potentially avoiding the monetary and time expenses associated with litigation. Otherwise, we will advocate on your behalf in court proceedings whilst continuing to uphold our model of cost-effective and commercially intelligent solutions. Entering into litigation should be contingent on the value of the debt, because we want you to avoid throwing good money after bad.
Insolvency related procedures and the issuing of a statutory demand are a commonly used alternative to the above. You should obtain specific advice as to whether or not this is advisable and whether there is a genuine trial issue i.e. a reason why the dispute needs to go to trial instead.