Debt Recovery

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Charging Orders – Want More Than Fixed Costs?

A frustrating element of the standard procedure is that only fixed costs are recoverable under the Civil Procedure Rules. The rules state that the claimant is only able to recover a fixed fee of £110.00 towards it solicitor’s costs (CPR Part 45.6). It has long been argued that this sum is simply not sufficient to account for the work involved in making a charging order application, particularly bearing in mind the requirements of service on unsecured creditors, of which there can be many.

Charging Orders – Want More Than Fixed Costs? Read More »

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Guarantors – Some Considerations

Q. We are a finance house who entered into a commercial hire agreement with a new company who needed to acquire plant and equipment. It was a condition of the agreement that both directors gave their personal guarantees. Now the company has collapsed and one of the directors has already gone bankrupt. The other one is saying that he never saw the form and it is not his signature. We thought we had security but now we are contemplating a huge write-off. Could we have done anything more to protect ourselves?

Guarantors – Some Considerations Read More »

Greenhalgh Kerr
Olympic House, Beecham Court,
Smithy Brook Rd,
Wigan WN3 6PR

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+44 (0)333 200 5200

We are confident in our work and we know that recoveries is a key part of a lender or creditor’s business

We are confident in our work and we know that recoveries is a key part of a lender or creditor’s business. We have designed our pilot projects to give lenders and creditors the comfort and confidence in our service before formally and fully switching recoveries providers. This time also allows new clients to benchmark our service levers and results against existing providers and others.

How it works

01

You choose 10 recoveries cases

You choose 10 recoveries cases to get us started. We’ll deliver our usual onboarding protocol where we’ll get to know you and your systems, culture, methods, preferences, and requirements.

02

We get started

We assess each case by setting a strategy then grading and reporting on the case in terms of prospects and timescales and cost. We make immediate contact with debtors, and pursue a recovery in our tried and tested ways.

03

We review

We deliver ongoing, structured, tailored reports as per your needs and carry out a full 3-month review on these 20 cases. There we’ll discuss how we have worked together, patterns we have seen in your borrowers, your systems, your documents, your pre-legal conduct, outcomes, highs and lows, legal costs (and costs borne by debtors), and possible improvements in all of these.

04

No strings

We carry on working in this way until all cases have been concluded. You are then free to carry on your discussions with us or to use the experience and market intelligence gained by working with us in the future.

Lenders and creditors have nothing to lose, and everything to gain, by engaging with us on a pilot project.