After sending the letter of demand, there are many possible courses of action, namely, the debtor can respond and open negotiations.
Although you can start negotiating with the debtor on your own, entrusting a lawyer with the negotiation can help you avoid a heavy work load, nuisance caused by the time it takes to get paid, and several other personal issues. In fact, by being removed from the situation, the lawyer will be able to properly grasp it and arrive at a reasonable and fair solution to your problem.
Thus, a lawyer can reduce the chances of a situation deteriorating and speed up the repayment process. In many cases, it is also possible to avoid going through the courts, which can be a time-consuming, costly, and stressful process. Negotiating a deal can also increase your chances of preserving the business relation with the debtor and avoid a bad reference from an old client.
If your debtor agrees to discussions and admits to owing you money, BF Perception can negotiate the best agreement possible, fairly assess whether the offers are reasonable or whether legal action is preferable. In fact, many factors must be taken into consideration before taking legal action, such as delays, the time you will have to put in, and the debtor’s ability to repay. For example, in practice, a ruling in your favour can become impossible to execute in the case of bankruptcy or insolvency.
We will defend your interests through the entire debt collection process and we will help you evaluate the actual costs of the various solutions available to recover your money from delinquent accounts and thus, transform a source of bother into a source of assets.