There is difficulty in collecting county court judgements that the debtor’s involved are usually in financial turmoil or adept at side stepping or delaying payment of their liabilities.
London, UK (PRWEB UK) 12 November 2012
Jack Russell, through its 30 years in business, and tens of thousands of case studies have developed the internal procedures to recover debts from difficult to enforce county court judgements (CCJ’s).
With the downturn in the economy and more and more businesses suffering at the hands of debts that can’t be collected it is imperative to try and collect as much cash as possible as this can give timely relief to cash flow. A spokesperson from Jack Russell Debt Collection commented “There is difficulty in collecting county court judgements that the debtor’s involved are usually in financial turmoil or adept at side stepping or delaying payment of their liabilities”.
If your debtor fails to pay the debt once you have obtained a court judgement against them below a summary of some of the most effective steps used to enforce CCJ’s:
a. Summoning the debtor to court. Once in court, the debtor is also questioned on oath regarding their ability/offer to pay. Jack Russell, identify this approach as one of the most effective as many debtors will pay up rather than submit themselves to this process. This approach delivers a high conversion to instalment payers which helps clients begin to get the cash back faster.
b. Third party debt orders. Settlement can be obtained directly from the debtor’s bank or building society account. The best approach is often a combination of threatening to or summoning the debtor to court, in combination with other tactics. Execution is key to recovering the debt.
c. Charging orders. Businesses can place a charge against a debtor’s property on or off the market. However, this approach requires deeper insight into the ownership status of the property, existing charges and 3rd parties to the property. Often this is a safety net approach and close to return cash.
However, none of the above tactics will help if the debtor does not have the assets or the means to pay, or is protected by a Ltd Company that does not have the assets to pay. The best approach is one of prevention rather than cure. Developing internal credit management processes to include adequate terms of service and payment, payment procedures, customer identification, credit risk profiling and payment methods to avoid the most common payment issues can go along away towards prevention or risk migration of payment issues. Jack Russell Debt Collection, provide a lot of advice via its debt advisory services to UK businesses via its bespoke advisory programme and/or via the free resources it provides to all visitors online at http://www.debtcollect.co.uk.
Kerry Bland, Managing Director, of Jack Russell Debt Collection commented on the debt recovery services helping businesses enforce county court judgements, “Enforcing CCJ’s is notoriously tricky and requires an adept and experience hand at ensuring that the correct and appropriate steps are taken giving debtor’s the minimum wriggle room to delay payment”. Kerry continues to add “Bad debts or late payments can cripple a business resulting in failure. Our approach to enforcing county court judgements helps speed this process up for our clients”.
About Jack Russell Debt Collection & Legal Process Servers
Jack Russell are one of the UK’s most prominent debt recovery services with over 30 years in business and a network of UK offices serving over 8000 businesses to help them recover difficult debts. Jack Russell pioneered the “No Collection. No Fee “model for collecting business debts.
Jack Russell work across all sectors in the UK. Some of the business types that have recently benefitted from their services include; recruitment consultancies, day nurseries, IT companies, printing firms, corporate entertainment and accountants and their clients.
The Directors are also respected members of prestigious organizations such as the Institute of Directors, and including the London, and Lancester and Cumbria Chambers of Commerce amongst many others.
For further information contact:
Jack Russell Debt Collection & Legal Process Servers Ltd
43 Bedford Street
Tel: +44 (0)800 068 5151
Email: kerry (at) debtcollect (dot) co.uk