Commercial Debt Recovery

Greenwood International has taken the liberty to make this guide, which is intended to show the process of Commercial Debt Recovery.

Pre-Action Letters

Greenwood International always insists that we start off by sending a letter to your debtor threatening proceedings. This letter should be accompanied by a copy of the statement of account showing the amount of the sum due. The letter can be sent by fax or in the mail, or even delivered by hand if required. Greenwood International will send your letter on the same day your instructions are received.

Chasing Debt By Telephone

After a pre-action letter has been sent by Greenwood International, we will give the debtor a call on your behalf. We do this because:

- This allows us to verify that the debtor is still in business and has not moved address.

- This allows us to check that we have the correct details for the debtor. This is important because we might need to take legal proceedings on your behalf.

- This us allows us to filter out cases that need a different approach than the norm. Sometimes when litigation may not be the best way to resolve the claim, or where there is a genuine dispute about the debt, special circumstances might be needed.

Over the years, Greenwood International has found that telephone collection is a highly cost effective and efficient way of recovering debts. Its easy to throw out mail in the garbage, but most companies respond to pay when they receive a telephone call from solicitors. Our highly experienced debt recovery team are very skilled and proficent in negotiating payment arrangements with debtors. They have been around for a long time and heard every excuse in the book, so they are prepared for any situation.

Gathering Information

Greenwood International strongly believes that Commercial Debt Recovery should not be an automated process. Many other companies might not agree with us, but that is what makes us stand out above all others.

Greenwood International treats each case individually. We put in a lot of time and great effort on gathering critical, efficient, and useful information about the debtor before we advise you to incur the costs of litigation.

At Greenwood International, we value our partnership with all clients, and we will not take any action without speaking to you first about coming up with a strategy for recovery of your debt. The art of gathering the appropriate information before taking the decision to sue is an intrical part of the process of formulating and creating that strategy. Taking these steps will ensure that your debt is recovered cost effectively.

If we feel that the costs and/or risk of litigation outweigh the potential benefit, Greenwood International will not hesitate to advise you to think about writing off the debt, if it is an appropriate option to do so. Our advice always has been, and always will be commercially driven.

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