Areas of Law / Debt matter

After we sold our business my husband and I attempted to bring in the money we were still owed. It took five years to bring one particular debtor to court, where the judge found in our favour and ordered him to pay our costs. He appears wealthy but I’m told everything is in his wife’s name. Our solicitor says it will cost at least £500 to pursue the money and we may still not get it.

Winning your case in court is often only the start of a process that can lead to your debt being repaid. You don’t say how much you are owed, but if it’s a substantial amount it may be worth £500 (which you could eventually recover) to pursue it. Bankruptcy proceedings (or the threat of them) are often a useful procedure where the debtor is hiding assets and where the debt is over £5,000.

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