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Young couple having a hard time doing their finances

Debt collection

If you have unpaid invoices, call Cleaver Thompson Solicitors in Alfreton and Clay Cross.

A healthy cash flow is essential

A healthy cash flow is essential to the success of your business, and when clients fail to pay on time, this causes stress and has a negative impact on your profits. We can help you to reclaim your payments if clients have failed to make their payments.

REGULARLY REVIEW YOUR ACCOUNTS

It is important to regularly review your accounts to monitor the health of your cash flow. Unpaid bills may seem particularly high at certain times of the month, for example if you have just sent out invoices. You also need to allow for credit terms, particularly if some clients have longer credit terms than others, and changes to your credit policy may also create a delay in payments. You also need to allow for the general economic climate – if times are hard, then clients will feel the squeeze.

Clear terms and conditions

By having clear terms and conditions set out from the beginning of a client relationship, they will know what is expected and when payments are due.  Legally, a payment is late from 30 days after the client has received the invoice, or you have provided the goods or service. A debt recovery process should outline that you will charge interest on any outstanding debt. It is worth reminding clients a few days before the invoice is due and if payment is late, call the client to see if there are any problems.

Taking the issue to court

If your client still doesn’t pay, then your solicitor will need to send a formal ‘letter before action’ before you can take them to court. If payment is still not forthcoming, then you can consider litigation. The Small Claims Court processes claims of up to £10,000. Check with us that you have followed the correct legal procedure to ensure you don’t pay court fees. It may be necessary to institute Winding Up Proceedings (against a company) or Bankruptcy Proceedings (against an individual).

Final demand letter in the post
old books , old legal books

ARE YOU OWED MONEY THROUGH UNPAID INVOICES?

Contact Cleaver Thompson Solicitors in Alfreton and Clay Cross to help you recover your money. We can also help you with landlord and tenant disputes, plus professional negligence.

ALFRETON OFFICE

5 & 7 King Street, Alfreton, Derbyshire, DE55 7AE

Tel:  01773 301858

CLAY CROSS OFFICE

6a Eyre Street, Clay Cross, Derbyshire, S45 9NS

Tel:  01246 865048

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CONTACT US

5 & 7 King Street, Alfreton, Derbyshire, DE55 7AE

6a Eyre Street

Clay Cross,  Derbyshire, S45 9NS

Tel:  01773 301858

Tel:  01246 865048

Mon - Fri:

9:00 am - 5:15 pm
Closed for lunch

1pm - 1:45pm

Mon - Fri:

9:00 am - 5:00 pm
Closed for lunch

1pm - 2pm

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Number: 04889150

Name: CLEAVER THOMPSON LIMITED

Address: 5-7 King Street, Alfreton, Derbyshire, DE55 7AE

Authorised and regulated by the Solicitors Regulation Authority No.388160

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