Restitution News & Legal Insights

3 MIN READ - Posted on Friday, Dec 27 2024

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Before we take on a case we routinely meet with the owner of the debt, consider the papers and risk assess the debt, before considering, setting and offering the terms upon which we are able to act, and recover the debt.

When approached by organised holders of debt, who can provide clear instructions, and provide an organised pack of the fundamental paperwork (Contracts, invoices, correspondence etc), the meeting, risk assessment and proposal can follow within 20 minutes to get us under way the same day. Debts at all value levels can be dealt with this way, when we are provided with what we need at the outset.

All too often however, we are approached by debt owners who are more than happy to have lengthy meetings on the pros and cons of taking action, and then prevaricate on it for months, losing both impetus and appetite in the process.

Delay, or even inactivity follow requests for basic information in support of the debt, as it also can when preliminary meetings are scheduled with staff of the debt holder who do not have authority to decide on progression or otherwise, and our proposals must go through a second tier of explanation to those who do.

Those who can provide a clear account, instructions, documentation and pathway to internal decision makers, are likely to be deemed by a debt recovery entity as a less complex prospect, and are thus likely to find themselves paying less on the recovery.

The key takeaway issue, is that if you find yourself in the position of needing to recover a debt, organise and consolidate the facts and evidence, and work at decision making level with your providers in order to maximise your prospect of recovering your money. Act quickly and decisively, and empower your provider to make progress swiftly.

Too many poorly organised enquiries never get off the ground leaving vast collective sums of owed money uncollected.

There are many reasons why people and companies fail to recover monies, we hope herein to help you avoid at least some of them.

Contact Restitution by clicking here or email us direct at info@restitutionlimited.com