Creditor action
Steps taken by a creditor to recover or protect a debt, ranging from demands and negotiation to court or insolvency proceedings.
Related terms
-
Recovery action
Steps taken by a creditor to recover overdue money, from contact and negotiation through to court or enforcement.
-
Enforcement action
A specific step taken to recover a debt, such as instructing enforcement agents, obtaining a charging order or pursuing insolvency proceedings.
-
Letter before action
A formal warning that court proceedings may be started if a dispute or debt is not resolved by a stated deadline.
What’s your next step?
Get in touch with us at Bell & Company today to see how we can help