Speculate to Accumulate

If you are owed money by an individual or a company, then the chances are you will attempt to recover the debt yourself. And why not, I mean after all you have provided the service as per the original agreement, so why not get paid in the normal way? It seems like a fair request to me. When you write to your customer, you may like to say something like “Please provide me with payment of the outstanding invoices within 7 days or I will commence legal proceedings.” Unfortunately, your headed paper can carry less weight than a solicitor’s. The same sentence incorporated into a letter from your solicitor, more often than not, focusses your customer’s mind into paying. Some customers actually have a policy of not paying debts until they receive such a letter. If you wanted to instruct such a solicitor, then you should seek out a fixed fee for this “Letter Before Action”. Any decent Debt Recovery department will offer that. Ask the solicitor what you will get for that letter. I mean, if you went to a restaurant, the chances are you will know how much your dish will cost before you order it. So, the unfortunate fact of recovering your debt is that there will be times when you have to speculate to accumulate, but never agree to such services without knowing what it will cost you. At Mayo Wynne Baxter, we have a full fixed fee schedule, and that information is available to browse on our website.