Outstanding Debt Recovery Services

Tuesday, July 22, 2014

Outstanding Debt Recovery Services

Outstanding Debt Recovery Services

Recovering Rental Debt From Tenants Couldn’t Be Easier

There are occasions when landlords write off unpaid rent from tenants, just because they are happy to get their rental property back after going through the tenant eviction process. However, there is no excuse for allowing tenants to get away from the debts that they have accrued during the term of a tenancy.

Rather than allowing the tenant to get away with not paying their unpaid rent arrears, costing landlords a lot of money, there are positive steps that landlords can take, that come with great results.

Legal 4 Landlords are the UK’s market leading suppliers of specialist products and services designed to aid landlords and letting agents operate their rental property businesses smoothly and efficiently. L4L have a unique streamlined in-house system that allows them to act quickly to recover tenant debts.

Taking positive action not only alleviates stress but it shows your debtor that you are not prepared to sit back and accept non-payment and that you will take the required legal steps to ensure that the debt is repaid.Legal 4 Landlords small claims service is available to landlords and letting agents when the value of the outstanding debt is below £10,000 (GBP).

Legal 4 Landlords in-house debt recovery team will draft and prepare the small claim forms on your behalf and issue them to the court and serve notice to the debtor and inform you of the date of the hearing. The cost of this claim process can be added to the outstanding value of the debt being claimed and recovered from the tenant debtor.

If the debtor is employed, then Legal 4 Landlords can apply to the courts for an attachment of earnings order to take a proportion of the debt directly from the debtor’s wages, every payday.

Attachment of earnings orders cost £299.00 (GBP) and are very helpful when the debtor has previously refused to repay their outstanding debts. Asking the courts to take the debt directly from the debtor’s wages means that the debtor cannot get away with not paying up, again the costs of this process can be added to the value of the debt being reclaimed.

Other alternative solutions for recovering debt from bad tenants include seeking a Bailiffs Warrant of Execution, where the debtor’s goods and possessions can be seized to the value of the outstanding debt.

This process works by Legal 4 Landlords arranging licensed and certified bailiffs to go to the debtors address and seize the debtor’s goods. The fixed fee of £199.00 (GBP) includes solicitors, court costs and bailiff fees, and again, the cost of this claim can be added to the outstanding debt being reclaimed

The Legal 4 Landlords in-house debt recovery team have a great deal of knowledge and experience to ensure a fast and positive outcome for landlords who are facing a rental debt situation.

Why not give Legal 4 Landlords a call today and see how they can help you recover outstanding rental debt -  0844 567 4001

This was written by Mike Clarke. Posted on at 11:30 am. Filed under Buy To Let, Eviction. Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink. Follow comments here with the RSS feed. Both comments and trackbacks are currently closed.