Cash collection is a vital component in any property portfolio and if rent stops being paid, early intervention can be necessary before the arrears become unsustainable and beyond the ability of the debtor to pay.
In the experience of the Property Litigation team here at Butcher & Barlow, an early letter before action or statutory demand threatening bankruptcy often results in payment and more timely payments going forward.
However, we also appreciate that sometimes it will be important for you to retain a positive, commercial relationship with the debtor and a litigious approach may not be the best approach.
We will talk through all the options with you, and give you the advantages and disadvantages of each, enabling you to make an informed decision on how to proceed.
Should your debtor still refuse to pay, we will vigorously pursue your claim through the Courts where necessary or by way of petitioning for bankruptcy.