CASHFLOW SOLUTIONS | TURN YOUR UNPAID INVOICES AND JUDGMENTS INTO CASH IN THE BANK
IN THIS EPISODE | Chief Shergroupie, Claire Sandbrook, explains how our Cashflow Solutions can help you collect in your unpaid invoices, escalate to legal claims, and finish the process by transferring judgments to the Shergroup Legal for enforcement. Since 1995 Shergroup has been adding value to its function as Sheriffs, and now High Court Enforcement Officers, by helping crediitors with a range of different commercial profiles. It was our first diversification outside our heritage as Sheriffs and we have enjoyed collecting and litigating on B2B and B2C debts ever since.
Our process follows the 3 tiers of function of in a logical flow as part of our overall Cashflow Solution. These tiers are |
- Collection
- Legal
- Enforcement
In the first tier – Collections – we offer a NO COLLECT NO FEE service to help our creditor clients feel comfortable in outsourcing their debts and claims to us. We don’t want our clients worrying about the cost of doing this. Our commission starts at 15% + VAT. There are no hidden extras, or hidden set up fees. We also encourage our clients to review their terms and conditions of business, so our fees are recoverable from their customer wherever possible. Why should your business lose a slice of your invoice debt from your late paying customer?
The Collections process has a standard cycle of 30 days and the last step in that cycle is to send a FREE Letter Before Action (“LBA”) to warn our client’s customer that legal proceedings will be taken if they do not pay or put forward an acceptable offer.
If the Letter Before Action doesn’t prompt payment we move to the Legal tier of our process.
Our sister company, Sherwins Limited trading as “Shergroup Legal”, carries out this part of the process. We charge fixed court fees and the court fee to issue as a simple way to move through this part of the recovery process. Today we can help a business manage its Accounts Receivables function, from start-ups to multimillion businesses.
The end result of the legal process will be a judgment in our client’s favour.
Enforcement is the final tier of our process and its where it all started in Shergroup, when we were appointed Under Sheriffs. Today Writs of Control issued by the High Court give us the authority to enforce payment from people named on this historical document.
Judgments over £600 in value (made up of the debt, interest, costs, and late payment interest), are transferred to Shergroup Enforcement for a High Court Writ of Control to be issued. An additional fee of £156 is charged to cover the management and court fee for this process.
This uniqueness in our 3 tier process, makes up the cliché of our ONE STOP SHOP. Only a few companies can enforce payment. We are the only High Court Enforcement provider that through our history can do the entire process from start to finish in a professional and client-friendly way.
This is the Shergroup way, and we love to look after everyone in our client community with your debts, your claims, and your judgments.
Contact us on |
Phone | 020 3588 4240
Website | www.shergroup.com and you can chat to us from here
Email | [email protected]
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