Momentum Brochure

Legal
Momentum
E B T R E C O V E R Y
D
01204 565040 www.momentum-legal.co.uk mail@momentum-legal.co.uk

Momentum Legal
Are you or your business owed money?
Do you have customers or clients
who are ignoring invoices?
Are you struggling to chase your debtors?
Are your debtors causing you financial
difficulties?

DEBT
Momentum Legal
If you answered yes to any one of the questions overleaf Momentum
Legal's Debt Recovery team are on hand to assist you.
RECOVERY
Most businesses do not have the time or resources to chase overdue
monies, which allow debtors the luxury of free goods/services.
Momentum Legal Solicitors have a dedicated debt recovery
department offering a bespoke service.
As a company of Solicitors, we have the expertise and experience to
take legal action, obtain and enforce County Court Judgments
(CCJs).
In most cases, however, we aim to recover the debt before
proceedings become necessary.
Making an enquiry will cost you nothing but instructing us could help
you recover thousands of pounds in outstanding debts.

Momentum Legal
Debt Recovery
Wether you are a business or an individual, late payments and bad debt are very much a fact of business life.
Debtors cause individuals and companies to suffer cash flow problems when they don't have the means to recover
monies owed to them.
The process can often seem daunting, complicated and time consuming and many simply dont have the resources
to pursue bad debtors all the way.
Debt Recovery is the process of recovering payments or sums of money owed to you.
Momentum Legal offers an easy and streamlined debt recovery process to recover monies owed to you or your
business.
The service offered will be tailored to meet your individual needs and most importantly, with a transparent pricing
structure to make you aware of the costs involved from the outset.
A dedicated team (who deal with each and every claim proactively) will work to reduce your debt and improve your
cash flow.
As a company of solicitors regulated by the SRA, we are equipped to deal with your claim from the outset and issue
court proceedings on your behalf if necessary.
We aim to work closely with you and your business to create an efficent process which maximises your debt
recovery and minimises your debt.
As solicitors, we will waste no time in issuing court proceedings against an individual or company with whom you
have a dispute and we will maintain full control of the court process with the sole aim to recover your money as
quickly as possible.
Do you have a claim?
When you instruct Momentum Legal to deal with your claim, the first step in our process will be to determine whether
or not you have a case. This isn't always clear cut and our experienced team will review the circumstances of your
dispute and advise you as to the merits of proceeding with a claim.
Letter Before Action (LBA)
Upon receiving your instructions and after making sure that you have a claim against a debtor who is worth
1
pursuing, we will send out the first 'Letter Before Action' based upon the outstanding invoice. If the debtor fails to
pay, we will discuss the next stage of the debt recovery action which is the issue of court proceedings.
1 - According to a recent report, using a solicitor when chasing unpaid invoices is still the best way to ensure swift payment.

Momentum Legal
Tracing Agents
Before even considering the commencement of court proceedings, we will first seek to establish whther the debtor is
worth pursuing.
Even if you are found to have a robust case against the debtor, it does not mean that you are guaranteed a positive
outcome. The last thing we want is to make a successful claim on your behalf only to find that the debtor has no
means to pay.
Momentum Legal can make enquiries into the debtor's financial status, including property ownership and
employment status. If you are particularly concerned about the whereabouts of the debtor or their financial viability,
we will discuss the option of instructing a tracing agent to make more detailed enquiries at a later stage - before
court proceedings are issued.
Before legal proceedings are commenced, we want to ensure that we have the correct details for the debtor. If there
is any doubt as to their whereabouts, we can instruct a tracing agent to confirm the up to date details.
Alternatively, we can rely on electronic searches. The search results won't always be as accurate but in most cases
it will at least produce a new address for the debtor.
Can You Instruct A Debt Collector?
In many cases, our clients know the debtors better than anyboday else. As such, you may be of the opinion that
instructing a debt collector to visit the debtor will assist in the recovery of the unpaid debt and avoid the
commencement of court proceedings.
The collector would charge £100 + VAT and they would also retain a percentage of any amount recovered. In
addition our fees for instructing the debt collector will be £80 + VAT. However, we must stress that a debt collector
does not have the power to threaten execution of a writ or take possession of the debtor's belongings. This action is
only possible once court proceedings have been issued and judgment obtained against the debtor.
Issuing Proceedings
The advantage of instructing Momentum Legal to deal with your debt recovery claim as opposed to a debt collection
agency, is our experiance as litigation solicitors.
A debtor, who refuses to pay you the monies due, will be subject to county court proceedings which we will
commence swiftly in the event of a debtor refusing to repay the sums upon receipt of the Letter Before Action.
Momentum Legal utilises an online option to issue court proceedings to minimise any delays and to achieve results
as effiiently as possible.
The costs of issuing proceedings are dependant on the amount being claimed. If you are successful in your claim
and the debtor is ordered by the Court to pay the sums claimed, the cost of issuing the claim and part of Momentum
Legal's costs will be ordered for the debtor to pay.

Momentum Legal
Undefended Action
Once a claim has been initiated, the debtor has a strict time limit within which to acknowledge the claim and file a
defence. Where a defence is not filed at Court, Judgment will be entered 'in default'.
Admission
If the debtor accepts their liability to pay, they will confirm this to the court by filing an Admission form at Court along
with their payment proposals. Upon receiving the notification of admission, we will discuss the next step with you
and discuss whether to accept or reject the debtor's proposal. On the basis of your further intructions at this stage,
we will respond to the court with a view to obtaining a County Court Judgment against your debtor.
Defended Action
If the Debtor files a defence disputing the claim made, then your file will be passed to one of the solicitors at
Momentum Legal who specialise in litigation. They will explain the full court process to you so you are fully aware of
what to expect from the outset and advise you as to the best course of action.
Enforcement
Whether it is due to an admission being filed, or we have obtained judgment in default on your behalf, the debtor will
be subject to a County Court Judgment. The Court will issue Momentum Legal with a copy of the Court Order
and upon receipt, we will write to the debtor and request a full settlement or proposals for payment within 7 days. If
we do not receive instructions, we will immediatley be in touch with you to discuss the commencement of
Enforcement Proceedings.
Our exprienced team will advise you as to the most effective method of enforcement for your case from one of the
following:
High Court Enforcement Officer
Court Bailiffs (Warrant of Execution)
Third Party Debt Order
Charging Order
Attachment of Earnings Order
Statutory Demand for Insolvency
Order for Questioning

Momentum Legal
Statutory Demand
A statutory demand is a formal (and in effect a final) demand for payment of a debt in full. Ideally, it should be
served personally on the debtor who then has 18 days to apply to the court to have the demand set aside. If the
debtor fails to do so - a bankruptcy petition can be presented.
Bankruptcy
Bankruptcy orders can be made against debtors who are individuals and who owe more than £750.00. Thisapplies
to sole tarders and partners in a partnership. The first step in the process is to serve the debtor with the statutory
demand.
If a debtor is subsequently declared bankrupt, then the "Official Receiver" or "Trustee in Bankruptcy" will investigate
the debtor's finances, realise any assets and distribute the proceeds to the creditors. Momentum Legal will carry out
a search at the outset to find out if the debtor is already subject to a bankruptcy order.
Winding Up Petition
Where the debtor is a company, the equivalent of a bankruptcy order is a Winding Up Order.
As with bankruptcy, the first step is to serve the company with a statutory demand which may be followed by a
Winding Up Order against the company.
Once the Winding Up Petition has been served, the court will set a date to hear the petition and determine whether
to make a Winding Up Order against teh company.
The creditor is required to advertise the petition in the London Gazette or at www.thegazette.co.uk no sooner than
seven business days after the petition was served and no later than seven business days before the winding up
hearing. The advertisement must show the date of the petition hearing and the name and address of the creditor,
inviting orthers to support or oppose the petition should they wish.
In most cases, the Official Receiver will be appointedas Liquidator of the company on the making of a Winding Up
Order. One of the duties of the Official Receiver is to collect and realise all the company's assets in order to pay all
creditors.
Bankruptcy/Winding Up options can be discussed with our litigation team should you wish to consider this route.

What's next....?
Read the agreemnt and sign
and return the Debt Recovery
Terms of Engagement
- or -
Call us on
01204 565040
Email us at
mail@momentum-legal.co.uk
Visit
www.momentum-legal.co.uk
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