Credit union debt recovery

This service provides an integrated and extensive pre-legal collections cycle.

It incorporates a combination of letters, outward-bound telephony, text messages, and emails to attempt to engage with your customer and encourage payment or settlement of the outstanding balance.

Undertake an assessment of each member to determine their ability to repay their loan agreements.

This assessment can provide information such as:

• Propensity to pay score/credit worthiness

• County Court judgment data, including value, date and if settled

• Insolvency searches

• Location searches

• Property ownership searches

If our collections cycle fails to generate a successful settlement or repayment, then a full risk assessment is undertaken to assess the viability of issuing court proceedings. Using this information, our debt recovery are able to make a more informed decision as to whether to issue proceedings and advise on the most effective form of enforcement.

We provide advice and guidance in relation to IVAs, DROs, and bankruptcy orders made in respect of your customers. Our services include drafting and service of Statutory Demands, Bankruptcy Petitions and Winding up Petitions for unpaid debts. We also arrange for all documentation to be lodged at court and attendance at court hearings throughout England and Wales.

Our specialist corporate and commercial team work closely with credit unions, offering expert advice and holistic solutions.

Our services include:

• drafting contracts;

• drafting terms and conditions;

• advising on commercial contracts;

• advising on mergers and acquisitions; and

• reviewing specific loan agreements to ensure compliance with regulations.

We can help you diversify into the mortgage market. We offer support and guidance to your credit union whether you are considering or have already decided to enter into the mortgage market. We speak from experience and can guide you through the requirements of a mortgage offer, Land Registry requirements, documentation, and the conveyancing process. We also offer practical hints and tips through helpful Q&A sessions.

Our specialist conveyancing team has a strong focus on looking after you and your members whether buying, selling, or remortgaging a property. We are members of the Law Society’s Conveyancing Quality Scheme (CQS), which provides a recognised quality standard for residential conveyancing practices, from high-value properties to studio flats, from portfolio holders to first-time buyers.

Adaptive HR is an integrated employment law and HR support solution that combines AI-powered case management with direct access to our specialist employment lawyers. The service also includes bespoke documentation, with optional wellbeing and insurance protection. Find out more here.