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Rash Debt Chasing Could be an Expensive Mistake Warns Latimer Hinks Solicitors
Latimer Hinks Solicitors, one of Darlington and County Durham’s longest established law firms, is urging firms suffering payment delays to avoid leaping into legal action unprepared.
Mark has been involved with insolvency work since the Insolvency Act 1986 came into force. He is regularly instructed in all aspects of insolvency work, as well as debt recovery, and has been cited on multiple occasions in the prestigious Legal 500 publication for his dispute resolution work.
He said: “In times of economic hardship, business owners are often faced with the decision of whether to take their debt management further than simply chasing clients for payment.
“Many people shy away from taking County Court action, because they see it as an expensive route, but it’s not – so long as you win. On the other hand, we see a lot of businesses wanting to rush into court, when they have missed a vital flaw in their case and face an expensive loss.
“If this is an option being considered, it is vital to get the right legal advice from a qualified commercial lawyer, assess the case fully and make sure you prepare well before going ahead.”
Mark continued: “Taking legal action is a fine balance. Losing is expensive and, if a business leaps into a court battle without doing everything possible to ensure it has a very good chance of winning, it is a gamble at best.
“A qualified lawyer can give an independent assessment of the case and knows where to look for the potential pitfalls, before advising whether or not to go ahead.”
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At Latimer Hinks we will provide clear, concise and practical legal advice to private clients, business and commercial clients and farmers, landowners and landed estates.
Our objective is to deal with matters quickly and efficiently.