Welcome To Iridium Law

Debt Recovery

Our strategies have been developed over the years to maximise successful debt recovery offering innovative and effective solution from pre-litigation to enforcement services.

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We provide business debt recovery service that is fast, simple and effective

Can you imagine what it would be like if you could free up your cash flow, create certainty and sleep easy? Now is the time to collect your debts with the uncertainty of the months ahead with the help of our commercial debt recovery solicitors. Unpaid invoices can have a disastrous impact on the performance of your business, leaving both you and your employees in a state of uncertainty.

The team at Iridium Law understands that cash flow is part of the lifeblood of your business and any outstanding invoices could put a massive strain on your further payments, usually at the cost of your reputation. You can rely on our decades of experience to ensure that you get repaid in full and recover your legal costs.

What is Debt Recovery?

In simple terms, debt recovery is a process that involves recovering unpaid commercial invoices and debts through formal court proceedings. Our specialist debt collection solicitors will guide your business through the process and ensure that you are in a strong financial position.

Our Services

Our commercially minded solicitors have a wealth of experience in all areas of debt recovery, including:

Bulk debt recovery
Court proceedings
Debt recovery
Defending actions
Developing effective pre-litigation strategies to prevent late payment, including letters before action
Enforcing judgements
Insolvency creditor services
Issuing bankruptcy petitions
Issuing winding up petitions
International debt recovery
Negotiating payment arrangements
Reducing average debtor days by working with credit control teams
Serving statutory demands

Navigating Debt Recovery?

The process of collecting legal debts is typically done in four stages: Letter Before Action, Legal Claim, County Court Judgment, and Enforcement.

Letters of Claim: Often referred to as a Letter Before Action is a letter that warns the party at fault of your intention to bring court proceedings if you do not reach an agreement.
Legal Claim: If you do not receive a satisfactory response to the Letter of Claim the next stage is to issue legal proceedings through the County Court. A claim is initiated when a claim form is issued by the court requiring them to pay the debt, plus interest and costs within 14 days.
County Court Judgment: This is a court order that confirms that the debtor has defaulted on their payment or failed to respond to the Legal Claim. A CCJ can be obtained immediately after the expiry date of the Claim. The CCJ is the final decision by the Court which gives you the power to take enforcement action to collect the debt.
Enforcement: Once a CCJ has been obtained, it is then possible to “enforce” that debt immediately. The Court will not enforce a judgment until you as it to. There are a number of options available, including a warrant of control, attachment of earners, third party debt order or a charging order.

What is the Late Payment of Commercial Debts (Interest) Act 1998?

The Late Payment of Commercial Debts (Interest) Act 1998 has two purposes for debt recovery.

First, the Act seeks to compensate creditors for the late payment of debts. Secondly, the Act is also used to deter late payment. The Act only applies to the commercial supply of goods and services where you don’t have any provision for interest in your terms of business. The Act extends to businesses and public sector organisations in England, Scotland and Northern Ireland.

In brief, for invoices that are not paid on time, the act enables you to claim interest, compensation and your reasonable costs of collecting the debt where these exceed the compensation. The reasonable costs of collecting debt only apply for orders placed after 16 March 2013.

Why choose us

Discover the Iridium Law difference

At Iridium Law, clients are our primary focus. We deliver consistent, high-quality representation resulting in successful court outcomes. From our first interaction, to the last court appearance, we will provide you with sound advice and comprehensive advocacy.

The Best Possible Outcome

Engaging our expert team of Solicitors will ensure the best possible outcome, often resulting in cases being resolved without the necessity of proceeding to Trial.

No-Nonsense Approach

Our Solicitors will listen to you and understand your situation. During tough times, it’s important to pick the right lawyer who will give you the right advice from the very beginning.

Expert Legal Representation

Our team is highly qualified. It's comprised of experts with many years of combined experience. We're confident that we'll give you the best advice available.

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Customer testimonials

James Devane is a quite exceptional and formidable lawyer who commands respect and if asked to recommend a lawyer to a friend in trouble I would without hesitation recommend James. He is very bright, tenacious and personable. He recognises the issues in a case very quickly and provides an excellent service in his ability to address those issues. His client care skills aresecond to none. James is all about winning and his approach is open and refreshing.

Allan Gardner

Thank you to Sarah & Ben at Iridium Law for dealing with our issue with ease and effectiveness. Excellent service from start to finish, would certainly use for any other issues we have in the future. Highly recommended.

Lyndsey Morrison

Finance Manager, Properties Unique

Iridium Law dealt with our issue quickly and efficiently. They were also so friendly and helpful,and they kept us updated throughout. I really felt that we were getting a personal service and that we weren’t just another case, another number! Everything was so much less stressful than I was expecting. Highly recommended.

F Services LTD

Iridium Law have demonstrated that they comprise a team of people who listen and grasp very quickly a real understanding of your needs, concerns and priorities and they care deeply about their clients outcome. The advice we received was of outstanding value, clear, unambiguous and most of all realistic. We have no hesitation in stating that you will get clear advice based on their expertise and given in language you understand.

Navajo Leasing Limited

We chose Iridium Law based on their track record and recommendations. Throughout each stage we were pleased with the way the way that they kept us informed and for their attention to detail. No stone was left unturned to get us the outcome we needed and in the end, the result was exactly what we were hoping for. I would have no hesitation in recommending the Iridium Law team

Sumaya Group LT

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