Why your commercial debt recovery solicitor’s experience level is critical

Selecting the right debt recovery solicitors to help your company can be a challenging process. There is lots to consider,and too many firms make the mistake of prioritising cost over all else. Of course,it is important to stay within your means,but there is one key thing that is worth investing a little more in: experience.

Experience is a priceless thing that can only be gained over time. There are no shortcuts to gaining experience; it takes hard work,commitment and an investment of years of your life to become a seasoned professional in commercial debt recovery. Without experience,your representative may not know how to react when a problem gets thrown their way,and you could be left in a worse position than when you started.

Here’s why experience is so important in commercial debt recovery.

The appropriate strategy

There are many pitfalls in debt recovery. No two debts are the same,no two lenders identical,and all debtors are unique. This means there cannot be a one-size-fits-all approach. Thus a debt recovery firm that offers a service at a price that seems too low may be skimping on some fundamental requirements. It takes time to fully understand the complexities of a case and everyone involved,and the right strategy can’t be rushed.

Experience is vital in this issue. An experienced debt recovery solicitors will know how to handle a situation with the necessary tact. Debtors are often uncooperative,and debt recovery can quickly turn bad. It’s essential to be represented by staff with the experience and training to diffuse an escalating situation in an expert way.

Technical knowledge

Experience brings a technical understanding of the process of debt recovery that can’t be gained in the classroom. Knowledge of the appropriate legislation that governs debt recovery ensures quality of service and proper representation for your firm. When you are researching a debt recovery solicitor that you can trust,your primary focus should be experience,and that is exactly what you get with Land & Co. Solicitors.

For example,did you know that your representative can claim up to 8% interest per year for you,due to the County Courts Act 1984,section 69? You can also claim late payment interest and compensation under the 2013 Late Payments of Commercial Debts Regulation Act. An experienced commercial debt recovery firm will understand all your entitlements,and which ones apply to your unique situation. When you choose to ignore experience,you could miss out on items you’re entitled to.

It really does matter

At Lane & Co. Solicitors we deal only in commercial debt recovery; it is our speciality,and we like to play to our strengths. We have recovered tens of millions for our clients,and have been working in the area since 1978,making us the UK longest established specialists in the recovery of commercial debts. When your business is owed money,you can’t cut corners on hiring someone to help you get what you are owed. Contact www.laneandcosolicitors.com – Land & Co.,today to enjoy the benefit of our many years of experience in a complex sector.

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