“When will debt collectors give up?” This is a common question asked by individuals who owe money. The reality, however, is that creditors are often unwilling to give up until all possible avenues have been explored to recover what is owed. At Shergroup UK, we understand both the creditor’s need to recover funds and the debtor’s concerns. Here’s an overview of how we approach debt collection, especially with our No Collect No Fee service.
The Persistence of Creditors
Creditors usually want to exhaust every possible method to recover their money. This determination is driven by the necessity to maintain cash flow and the principle of being paid for services or goods provided. At Shergroup UK, we support creditors through a comprehensive and structured debt collection process designed to maximize recovery while being fair and just.
Pre-Legal Stage | Our Starting Point
Our debt collection process begins with a pre-legal stage, where we take on cases and evaluate them thoroughly. During this phase, we engage with debtors to understand their situation and encourage payment. It’s a critical step where we look for compelling evidence that might suggest the debt isn’t owed or that the debtor is in a vulnerable situation.
Legal Stage | Escalation to Legal Claim
If, after our pre-legal efforts, the debt remains unpaid and there is no compelling reason to halt the process, we escalate the matter to a legal claim. This escalation is a significant step, signalling the creditor’s seriousness about recovering the debt. Our Debt Collectors team prepares and files the necessary legal documents, moving towards obtaining a judgment against the debtor.
Enforcement Stage | Obtaining a Judgment
When a debt is not paid or defended in court, we proceed to obtain a judgment. This legal recognition of the debt is a powerful tool that confirms the debtor’s obligation to pay. A judgment opens the door to various enforcement options, each tailored to the debtor’s specific circumstances.
Our Effective Enforcement Strategy | Writ of Control
One of the most cost-effective and impactful enforcement methods we employ is the Writ of Control. As our CEO is a High Court Enforcement Officer, the Writ of Control allows our Enforcement Agents to visit the debtor at their business or home. During this visit, they can assess the debtor’s ability to pay by observing their environment and assets. This personal interaction often provides the clarity needed to resolve the debt, either through immediate payment or a structured repayment plan.
The Role of Evidence and Vulnerability
Throughout our process, we remain vigilant for any evidence suggesting the debt is not owed or that the debtor is in a vulnerable situation. We believe in a fair and ethical approach to debt collection, ensuring that those who genuinely cannot pay or are in a precarious position are treated with the necessary care and consideration.
Summing Up
At Shergroup UK, our commitment to recovering debts for our clients is matched by our dedication to fair and ethical practices. As debt collectors, we understand the importance of exploring all avenues before giving up on debt collection. Our “No Collect No Fee” service ensures that creditors can pursue debts without upfront costs, making the process accessible and efficient.
Check out our product page for this service at www.shergroup.com/cashflow-solutions/cashflow-b2b-no-win-no-fee-debt-collection/. On this page you will also find episodes from our highly successful TV show, “Call The Bailiffs, Time to Pay Up”, which shows the enforcement process for debts when they get to this stage of the legal process.
So, if you’re a business looking for a reliable and ethical partner to help recover your debts, Shergroup UK is here to assist. Contact us today to learn more about our debt collection services and how we can support your financial recovery efforts.
You can reach us |
By Phone | 020 3588 4240
Website | www.shergroup.com and you can chat to us from here
Email | [email protected]
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