When clients fail to pay, or continually pay late, you need effective action to keep your business on track.
Swiftly issuing a claim against a debtor has impact and affirms your intention of getting paid.
You are entitled to add interest, legal costs, and late payment compensation. A court judgement can be obtained and subsequently enforced if your debtor does not respond.
You will find that issuing a claim often invokes payment from the client. If the debtor wants to dispute your claim, there is a strict timetable to follow which prevents the issue dragging on indefinitely.
SRA Transparency Rules: Debt Recovery Process Pathways & Charges
What are the SRA Transparency Rules?
The SRA Transparency Rules set out the information that SRA authorised firms should make available to clients and potential clients and form part of the Better Information, more choice: Post consultation rules. The rules aim to ensure people have accurate and relevant information about a solicitor or firm when they are considering purchasing legal services and will help members of the public and small businesses make informed choices, improving competition in the legal market.