help please: debt recovery

[vespa]

has anybody of the sole traders among you had to deal with debt recovery in their trade? I am at the final stage and still not sure if solicitor is better than debt recovery agency. This is a racing related question as outcome will affect my ability to do some meetings :D

[Jonzi]

I am about to embark on recovering debt from an old accountant, but he is based in Northern Ireland, so the laws are a bit different over there.

And I run a limited company so possibly different to a sole trader.

Either way, if someone owes you money then pursue it, it's yours right?

[Iconic944ss]

Small claims (2.5K ?) can be done online - not sure if this would help you.

[Trumpet]

The key thing is do you know what the problem is? there are usually three reasons people do not pay: They dispute you invoice, they can't pay (usually because they do not have the money), or they wont pay (usually because they think they can get away with it).
I have usually followed the following path for each case;
Dispute = Solicitors, which usually costs but you get your money
Cant pay = Personal visit agree terms or goods to the value etc, which usually means you eventaully get your money
Wont pay = Sell debt to nasty people, which results is you getting something back (depending on amount, type of debt and circumstance anything from 40% - 75%) and the satisfaction that there lives become very very unpleasant!

[ells]

I went through this process about two years ago. PM sent

Oh and best of luck.
Mark

[vespa]

thanks all for answer and Mark for PM. I really hate having to go through all this although is the first time for me and it seems that it is a normal event for all in independent business.
I looked at https://www.pcg.org.uk/subscribe/package which seems ok.

[ells]

I sIgned up to them.

Best of luck.
Mark