Law firm launches new service for businesses

A leading Colchester law firm has set up a new service to help local businesses weather the credit crunch.

Fisher Jones Greenwood LLP launched its debt collection service in response to a growing number of requests from businesses to recover debts as the economy begins to slow down.

Senior Partner at Fisher Jones Greenwood, Tony Fisher said: “As a firm we are receiving an increasing number of instructions to recover debts from companies and individuals, which is why we decided to establish this service. When businesses delay recovering debts, the debt often cannot be recovered at all, which can have very serious consequences especially for small businesses, so it is always important to seek legal advice.”

The new service aims to increase the chances of businesses being able to recover debts both quickly and efficiently, enabling them to sustain their cash flow. Mr Fisher added: “Both individuals and businesses are feeling the consequences of lenders tightening the reins. In these circumstances maintaining cash flow becomes increasingly important. More businesses fail because they run out of cash than fail because they are unprofitable. We have seen even the most profitable businesses being wound up due to their inability to meet their liabilities because of  bad debts.”

For further information please contact Fisher Jones Greenwood on 01206 835300.