Debenhams Ottaway launched its competitively priced fixed and capped fee debt recovery product, DebtFast, in 2012 but has followed this up with a dedicated website which contains a wealth of information for creditors and aims to demystify the debt recovery process for businesses. Inspired by the theme of predictable and fixed costs advocated by Lord Justice Jackson, DebtFast not only fixes costs of undisputed debt claims but also provides costs certainty for insolvency petitions* and disputes* within the small claims and Fast Track. It also enhances creditor recovery prospects in debtor insolvency via its network of forensic insolvency practitioners.
Commenting on the launch of the website and growth plans Debt Recovery and Creditor Services Manager, Penny Daisley said:
“When faced with unpaid commercial debts, credit and finance managers are naturally concerned that they don’t want to throw good money after bad. It is critical, therefore, that debt recovery work is handled at proportionate costs. Often though commercial debt claims are disputed which lead to either claims not being pursued or the uncertainties of traditional hourly rates being applied by solicitors. DebtFast provides a quick, cost effective, debt recovery solution.”
*Subject to the DebtFast terms and conditions
1. The DebtFast team acts for clients in all sectors but has particular expertise in acting for clients in the recruitment, advertising, construction, education and healthcare sectors.
2. Debenhams Ottaway is a leading Hertfordshire firm headquartered in St Albans. Its commercial litigation team is ranked in Chambers and Legal 500 and it was recently a finalist for Insolvency Law of the Year in the TRI Awards.
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