Help me pursue a debt

If you are trying to collect a debt the most important thing is to distinguish between the ‘can’t pay’ and the ‘will not pay’. How you proceed will differ substantially.

1. Can’t pay

In these circumstances you need to decide your priority. Do you want to simply put them out of business, but risk writing off your entire debt? If so a winding up petition may be the answer. If your priority is to maximise what you recover, a patient but firm approach may be the answer.

At Portland we can help with both tactics as we are able to advise you on issuing winding up proceedings or alternatively working with your debtor to nurse them through their immediate problems so that they can eventually pay what is owed. We can also help you with your future trading with businesses in difficulty by advising how you can minimise your future risk.

2. Won't pay

3. Some people think it is fair in business to simply refuse to pay their debts even if they have the ability to pay. Apart from the obvious concerns about trading with such people, if you find yourself on the receiving end of a ‘will not pay’ we can advise on actions you can take to pursue recovery, together with the risks and costs involved, putting you in a position to decide how you want to proceed.