At Glenwood, we have crafted a meticulous and transparent approach to debt collection within the construction industry. Our process involves several key stages all designed to increase the chance of a successful recovery. Let's walk through the key phases:
1. Evaluate Claim and Compensation
Every successful debt recovery journey begins with a thorough evaluation. We dive deep into industry-specific credit checks, ensuring we have a complete understanding of the debtor's financial standing. This foundational step sets the trajectory, allowing us to accurately gauge the legitimacy of the claim and the compensation due. We will also advise on whether you are due late payment compensation under The Late Payment of Commercial Debts (Interest) Act 1998.
2. Demand & Other Official Letters
Instead of solely relying on one form of communication, we employ a series of tailored letters, including but not limited to demand letters. These letters serve varying purposes, from initiating dialogue with the debtor to escalating the urgency of payment, ensuring that our approach remains both flexible and strategic.
3. Telephone Negotiations
Often, a personal touch can make all the difference. We believe in the power of direct communication, which is why our experienced team engages in telephone negotiations. This approach not only provides a platform to discuss and clarify any contract ambiguities but also establishes a rapport with the debtor, enhancing the chances of an amicable resolution.
4. Service by Sheriff Officers & Tracing
In scenarios where debtors prove elusive or non-responsive, we have the capacity to trace their whereabouts. Additionally, we employ the service of Sheriff Officers—a step before full-fledged legal action. This can act as a significant catalyst, especially if the debtor has the means but has been avoiding settlements. It represents our dedication to exploring all avenues before resorting to more drastic measures.
5. Legal Action
We will always try to collect using the methods above before resorting to legal action. However, if circumstances require it, our team stands ready to initiate legal action. Our recovery professionals and network of legal partners ensure that our legal endeavours are both potent and equitable.
In Conclusion
Since our inception in 2017, with 3 offices spread across the UK and the Republic of Ireland, our commitment and mission have not changed. We pride ourselves on supporting over 300 clients with unmatched industry knowledge and a tailored approach. Our dedicated and professional team of over 20 staff members remains at the heart of our mission: to provide transparent, efficient, and friendly debt recovery services catered specifically to the construction world.
For insights, guidance, or a deeper understanding of how we can assist you, reach out to us. We're here to help, every step of the way!