At Prosperity Law LLP, we guide our clients through the pre-legal debt collection stage, the issuing of legal proceedings and the preparation of claims for hearings to hopefully secure a County Court Judgment against your customer.
Our services do not stop there, we offer a range of services in circumstances where we have obtained a County Court Judgment for you and further action is required to recover the monies owed.
Below are examples of services we offer as alternative methods of recovery to instructing High Court Enforcement Officers.
If you’ve obtained a County Court Judgment, we provide the following options to help you enforce it and recover your debt:
Attachment of Earnings
Once we have obtained a County Court Judgment for you against your customer, one enforcement option is to obtain an Attachment of Earnings Order. This is a Court Order that requires your customer’s employer to do deduct money from your customer’s wage directly at source to pay the outstanding County Court Judgment.
The amount deducted from your customer’s wage is calculated by the Court based on your customer’s weekly or monthly earnings.
Third Party Debt Orders
Once we have obtained a County Court Judgment for you against your customer, another enforcement option is to obtain a Third-Party Debt Order. This is a Court Order which freezes monies held in a nominated bank account that might otherwise be utilised by your customer. Under this Order the nominated bank, building society or any other organisation which holds your customer’s money is the third party and is required to comply with the Third-Party Debt Order and pay the sums held within this account to you to clear the outstanding County Court Judgment.
Charging Orders
Once we have obtained a County Court Judgment for you against your customer, another enforcement option is to obtain a Charging Order against any property owned by your customer.
Obtaining a Charging Order means that your customer is unable to sell their property without satisfying the outstanding Charging Order, providing there is sufficient equity in the property to do so, by making payment of the amount due. This protects your position and means that you are a secured creditor.
Once the final Charging Order has been obtained, you may wish to make an application to force the sale of the property.
For debts that exceed £5,000.00, the Charging Order will continue to accrue interest until the Charging Order is fully paid off at the statutory rate of 8% per annum.
There are two types of notifications at the Land Registry which are commonly used, the first being a Unilateral Notice and the latter being a Restriction. A Unilateral Notice is commonly used when your customer is the sole proprietor of their property, and a Restriction is commonly used when your customer co-owns their property with another. Where your customer owns their property with another, only their share of the property is affected by the Charging Order and not the co-owner’s share of the property.
Partner with a Trusted Debt Recovery Solicitor in Leeds
If you’re facing challenges with debt recovery, it’s crucial to partner with experienced debt recovery solicitors who understand the intricacies of enforcement and legal proceedings. We offer a full range of services to help you recover outstanding debts, from issuing County Court Judgments to pursuing alternative dispute resolution or enforcement actions.
For further information or to discuss how we can assist with your debt recovery needs, contact our team at our Leeds office on 0113 246 7878 or email us at enquiries@prosperitylaw.com.
