It is the reality of modern life that people do not always pay their debts. If you are operating a small business, this could be devastating in the long run and severely impact your cash flow. Similarly, if you loan money to a friend or business partner and they do not pay you back this could put you in a very difficult position. We would of course normally first write a letter of demand to the other party and have had much success with this in the past. Unfortunately, if the other party does not pay, you do not have many other choices but to take him/her to Court.
If you run a business and you have an unpaid debt, we can sue the other party and enforce your entitlements in the most effective way. If you are being sued for a debt that you do not owe, we will defend the claim on your behalf.
Our solicitors are very experienced in starting proceedings and taking the necessary steps to make sure that you will obtain a Judgment as soon as possible in your favour. We have in the past successfully claimed the following types of debts:
We often have to enforce loan agreements where the time comes for payment and it does not happen.We will then enforce interest and other clauses to resolve the matter quickly.
Where you have sold your business and the purchaser is now operating the business but you have not received your money, we will advise you of the best possible strategy to obtain payment.
It is best practice to approach us before you sell a potentially expensive item like your car or other valuable items to ensure that your rights are protected. If you have already entered into the sale and handed over the item, we can assist you in obtaining payment.
Contact Stephens & Tozer today for the legal advice you need.