Just to remind you that because the English debt pre-action protocols do not apply to Scotland you may find it quicker to commence litigation against Scottish debtors by instructing us direct.
As well as saving time – we can institute proceedings immediately – you can save money too! This is because the equivalent to English issues fees (we call them warrant dues) will be no greater than £120.00. For actions less than £5,000 they are lower than this.
And if you instruct Yuill + Kyle you can also ‘plug in’ to the ‘Scottish Judgment Centre’.
How will the centre enhance your recoveries?
Yuill + Kyle’s Database
As one of Scotland’s leading debt recovery lawyers, we have an extensive database of debtors and slow payers. These debtors will be profiled through the Centre’s database so that the appropriate action will be tailored to the debtor’s ability to satisfy the judgment
Sheriff Officer Experience
Certain information can be accessed by asking our Sheriff Officers if they have had any prior experience of dealing with the debtor. Again profiling the debtor will be paramount.
Our insolvency practitioners have working relationships with a number of debt factoring companies. These factors often have information about a particular debtor who will be on their “watch list”. Once again, debtor profiling will be at the forefront of the decision making process.
Evaluation of accounting information will include the following:
- What is the bank’s or any other lender’s, including invoice factors, position re security - bond & floating charges or standard securities / mortgages, etc.?
- Is there evidence of property? If so, a property search will be undertaken for further information
- What is the non-property tangible fixed assets position – do the accounts show a historical trend of the company holding a reasonable level of such assets?
- What is the book debts / stock / WiP position – again do the past accounts indicate reasonably consistent levels of such assets? However, if the accounts are long out of date, we would not place much reliance on levels still being the same
- Review notes to the accounts looking for evidence of other assets e.g. director loan accounts which may lead to searches on the directors and whether they might have assets (e.g. the area they live in / property searches etc.