Shortfall Debt Recovery

The key to successful recovery is to match the method of enforcement to the circumstances of the borrower.  The important thing is to identify at an early stage whether the debt is worth pursuing in terms of the likely recovery when compared with the costs that will be incurred.

Our emphasis is therefore on trying to initiate a dialogue with the debtor and to ascertain their financial circumstances and status.

We have a dedicated team that deals with unsecured debt recovery for lenders, as well as for other commercial and private clients.

An increasingly large percentage of the work of the department is shortfall recovery work for lenders following the sale of the security.  We are well versed in working to lender set mandates that allow us to agree suitable arrangements and settlements; alternatively we can refer to the client for instructions.

There is a seamless transition from completion of the sale of the security to the recovery of any shortfall that has been identified.

Tracing can be commenced with immediate effect, and we have considerable experience in dealing with the best tracing and field call agents, some of those relationships going back many years.  As with all third party relationships, these are subject to regular review and are quality controlled.

The team work alongside our contentious litigation department that can assist with defended and complex litigation.  This includes access to our in-house barrister and our specialist Consumer Credit team.

We also provide a service to manage Other Lender in Possession portfolios for second charge lenders.

We can provide full reporting in the format and at intervals to suit each client’s specific requirements.