ATTORNEY, BAILIFF OR DEBT RECOVERY COMPANY?

When you are confronted with debts, different channels are available to you to recover your debts. For example, you could call upon the services of either an attorney, a bailiff or a debt recovery company. In order to choose the right one, we recommend you analyse the roles and limitations of each of these three debt recovery parties.

Debt recovery company

The main role of a debt recovery company is to manage relations between creditor and debtor. They usually recover debts by favouring amicable solutions. These debt recovery professionals will guide you during the entire process by establishing a global strategy for managing your debts and planning regular reminders and different orders for payments. However, the secret of their success isn’t a secret: it’s about systematic, structured and positive communication with the debtor.

The real limitation of the debt recovery company starts when the recovery process requires legal action, which concerns one per cent of the debts managed by TCM. In such cases, companies such as TCM collaborate closely with attorneys and bailiffs specialised in debt recovery, which means you don’t have to involve more parties and can leave debt management to the debt recovery company during the entire process.

As well, the debt recovery company usually works on a no cure, no pay basis. This means that you will only pay a percentage of the actual amount collected and only when recovery has been successful.

Bailiff

The bailiff is a court officer, or rather a kind of independent official, specialised in court-ordered debt recovery. Their job gives them the monopoly on summons and other attachments of debts. But they can also handle an amicable recovery, that is, without needing a judge’s decision.

However, to call a spade a spade, communication with a bailiff is rarely perceived as smooth and positive by the debtor, your client. His intervention will more than likely tarnish your commercial relationship with this client. And it is known that one unhappy client will tell 10 other people of their mishap, while 10 happy clients will only tell one other party.

Moreover, a bailiff has a duty of impartiality. They cannot defend you, as they must remain neutral.

Attorney

An attorney is the only representative of your legal actions in court. Of course, before recommending that you go to court, they will try to solve the problem directly with the debtor. Nevertheless, they will surely recommend going to court, as this is their core business.

Conclusion

In order to settle your debts, calling upon a debt recovery company is probably the best way to go. However, keep in mind that the debt recovery company will systematically favour an out-of-court solution,sothat you and your debtor will not have to pay unwelcome legal fees.

 

If you would like more information about what we can do for you, feel free to contact TCM. Visit our website or contact us!

ATTORNEY, BAILIFF OR DEBT RECOVERY COMPANY?

When you are confronted with debts, different channels are available to you to recover your debts. For example, you could call upon the services of either an attorney, a bailiff or a debt recovery company. In order to choose the right one, we recommend you analyse the roles and limitations of each of these three debt recovery parties.

Debt recovery company

The main role of a debt recovery company is to manage relations between creditor and debtor. They usually recover debts by favouring amicable solutions. These debt recovery professionals will guide you during the entire process by establishing a global strategy for managing your debts and planning regular reminders and different orders for payments. However, the secret of their success isn’t a secret: it’s about systematic, structured and positive communication with the debtor.

The real limitation of the debt recovery company starts when the recovery process requires legal action, which concerns one per cent of the debts managed by TCM. In such cases, companies such as TCM collaborate closely with attorneys and bailiffs specialised in debt recovery, which means you don’t have to involve more parties and can leave debt management to the debt recovery company during the entire process.

As well, the debt recovery company usually works on a no cure, no pay basis. This means that you will only pay a percentage of the actual amount collected and only when recovery has been successful.

Bailiff

The bailiff is a court officer, or rather a kind of independent official, specialised in court-ordered debt recovery. Their job gives them the monopoly on summons and other attachments of debts. But they can also handle an amicable recovery, that is, without needing a judge’s decision.

However, to call a spade a spade, communication with a bailiff is rarely perceived as smooth and positive by the debtor, your client. His intervention will more than likely tarnish your commercial relationship with this client. And it is known that one unhappy client will tell 10 other people of their mishap, while 10 happy clients will only tell one other party.

Moreover, a bailiff has a duty of impartiality. They cannot defend you, as they must remain neutral.

Attorney

An attorney is the only representative of your legal actions in court. Of course, before recommending that you go to court, they will try to solve the problem directly with the debtor. Nevertheless, they will surely recommend going to court, as this is their core business.

Conclusion

In order to settle your debts, calling upon a debt recovery company is probably the best way to go. However, keep in mind that the debt recovery company will systematically favour an out-of-court solution,sothat you and your debtor will not have to pay unwelcome legal fees.

 

If you would like more information about what we can do for you, feel free to contact TCM. Visit our website or contact us!

Don’t wait another second – collect your money

Focus on your business, we’ll take care of your outstanding payments. Contact us to find out more.

Don’t wait another second – collect your money

Focus on your business, we’ll take care of your outstanding payments. Contact us to find out more.