The need for an inhouse debt recovery department has become apparent over the last few years.
When no response has been received to the demands sent, our department endeavors to correspond with the Lessees either by email or telephone (if an address or number is supplied) or by reminders. Our final letter is sent by Recorded Delivery with a notice of intended proceedings. This includes a Rent demand notice, Commonhold & Leasehold Reform Act 2002, a Landlord and Tenant Acr 1985 notice requiring payment of Sen/ice charge plus supporting documentation, and a Commonhold and Leasehold Reform Act 2002 notice requiring payment of administration charges plus supporting documentation. Should it be necessary to proceed to court, all County Courts forms and correspondence is dealt with by our department. Once Judgement has been received, we request settlement from their mortgage company, to secure their interest in the property.
Should the Lessees defend the summons, our department has attended the courts on behalf of the claimants. Unfortunately, in the current climate, the need for Debt recovery has increased dramatically, therefore dealing with problem payers within our company, saves a great deal of time and money. We have proven to be sympathetic and helpful to the Lessee who really is struggling, while supporting the landlord and management company in retrieving the Rent and Service Charge.
By not having to request help from outside Debt Recovery Companies, and especially Solicitors, we are saving Landlords and Management Companies a great deal of money. All administration fees involved in the debt recovery process are added to the Lessee's account, and settled ultimately by their Mortgage Company. Unfortunately, Section 146 notices are frequently requested before they will agree to pay the Lessee's account, but again this is added to their outstanding debt.
To find out more about our inhouse debt recovery service and how it can benefit you, call us on 01202 299099.