Picture this scenario – a debtor owes your business £10,000.00. All attempts to recover the debt fail and you instruct lawyers to recover via court proceedings. You spend money on the lawyers fees and court fees.
The debtor may or may not try to stretch out the process by filing a defence and thereafter utilising every delay or other tactic possible. Finally, you have a County Court Judgment for your £10,000.00 plus interest plus most of your legal costs and the court fees. You breathe a sigh of relief, you will now get your money.