The receiving of debts comes out to be a tiresome process. It requires mental as well as physical exertion in all respect. To recover the debt, it is highly important to have a well-experienced solicitor by your side. The solicitor can play an important role in maintaining all the legal affairs which at the end gives mental relief to you. Manchester lawyers near you can also provide their services in this very domain as the process of debt recovery is only applicable in England and Wales. The following are the ways by which you can use the solicitor for the debt recovery.
Seek the legal letter to precede the very process. The legal letter will be comprised of all the details. The solicitor owns the responsibility to prepare the letter and send it to the debtor. The debtor will be given the time of seven days to respond to that letter accordingly.
The second step includes the claiming of the debt. The lawyer made the claim professionally to receive the debt payment.
Demanding compensation also comes under the responsibility of the solicitor. The solicitor would not only claim the debt recovery but also demands compensation as the whole process of the debt recovery cost mental and physical exertion. The solicitor will file the compensation on behalf of his party to the debtor in which he would be bound to pay both expenses.
The method of enforcement is used by the solicitor to gain the desired results. The method of enforcement varies as per the nature of the case. The types of enforcement include; high court enforcement, seizing movable property, gaining the information regarding debtor’s financial condition, garnishing the debtor’s earning, seizing home, or office of the debtor. These methods of enforcement are used when a debtor fails to meet the given deadline. This indicates that if a debtor fails to meet the given notice he would face hard consequences.
Insolvency is the method that is used as a last resort by the solicitor when a debtor fails to return the debt. In this method, the debtor will be made bankrupt or if a debtor owns any company the company would be wind up by the creditor. This process is done by the solicitor by proper legal practice. A layman cannot do this all alone; a specialized legal adviser is a must requirement in this process.
A good solicitor is a right hand when you are fighting any case. A wise and timely decision made by the lawyer saves one from a lot of hurdles and worries. There is no doubt that debt recovery cases are complex and time taking. Only an experienced lawyer can handle it with his knowledge and good skills. It is always suggested to seek legal advice and assistance from a professional as any mistake during the whole process can lead to long term repercussions.