One year On – The COVID-19 Impact on Debt Recovery

Year Published: 2021

The COVID-19 pandemic has certainly had an impact on Debt Recovery and presented businesses and individuals with some challenging situations over the past 12 months. Our Debt Recovery team has remained fully operational throughout and our experts continue to provide both our existing and new clients with the help, advice and guidance to maintain effective debt recovery processes throughout this time.

COVID-19’s arrival has seen the most viable businesses brought to the brink of closure. Some businesses and individuals have struggled to meet their liabilities as a consequence of reduced income, for reasons that are very obvious, but it continues to be vital for companies to attempt to retain their cash flow in order for them to survive themselves.

Discretion, patience, honesty and understanding have had to be exercised throughout this time and, whilst there might be no valid excuse for non-payment of invoices from a company that has not been adversely affected by COVID-19, the increasingly common “COVID Defence” is something that needs to be properly considered and investigated rather than simply accepted.

Our Debt Recovery experts are well-placed to assist and guide you at this time in respect of both yours and your opponent’s contractual obligations throughout the course of your professional relationship and business, particularly at this time when alternative dispute resolution methods and settlement negotiations are being heavily encouraged by the courts.

As always, companies should not be discouraged from exercising their pre-action obligations. Proactive approaches can prevent expensive litigation and time-consuming processes in the future.

Find out more about our transparent and cost-effective debt recovery services on our Fixed Price Debt Recovery page.

COVID-19 has had a profound impact on Debt Recovery and demand for these services has increased during the past year. For further information or guidance on Debt Recovery for your business, please contact Jodie Sumner on 0161 475 7606 or email [email protected].

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