Why use SLC Solicitors over an Unregulated Firm?
A good property will naturally attract good tenants, or at least that’s what you hope for. But unfortunately sometimes things will go wrong, and it’s imperative you have a trustworthy debt recovery agent working on your behalf to pick up those cases. Many might assume that you get the same service regardless of who provides it, but with no legal framework in place to regulate or control their services, businesses that are not employing qualified Solicitors cannot be relied upon for the accuracy, legality or efficiency of the work they produce.
The law is ever changing, and legislation is constantly being updated to reflect those changes. So, it’s vital you employ a firm who is aware of legislative amendments, is up to date and compliant. As a specilalist firm of recovery Solicitors we are trained and monitored regularly to ensure we are performing to the optimum standard and that we conduct our business in the correct and ethical manner. Many of our team are members of the Chartered Institute of Legal Executives, and regularly access statute law and cases that unregulated firms would not have access to, giving SLC both a competitive and legal edge which means our clients always get the most up to date advice.
As a firm of Solicitors, training has become second nature to us. Before legally becoming a Solicitor, you must undergo a minimum of 6 years of training to be followed by a minimum of 16 hours of training each year after qualification, a mandatory obligation issued by the Solicitors Regulation Authority (SRA). Our knowledge is second to none, and we will offer wherever appropriate. We extend free legal advice to our clients, with explanations of the legal jargon, and steer them through the complex process of recovering what is owed to them.
The Property Management Industry is based on an unregulated framework, although various very competent associations are looking to tackle this issue, creating an elite group of Property Managers. Anyone and any company can take control of a property. The same can be said for the Debt Recovery Industry. In the UK there are currently over 180 companies in the debt business. The number of these who are qualified and regulated however, is far lower. When we look at the numbers of those who are regulated AND acting purely within the Property Market, the figure falls to an alarmingly low level.
As a regulated firm under the Solicitors Regulation Authority (SRA) we are given a code of conduct that must be followed. We must submit to a financial audit annually, observe regulations for financial control and conduct, and act in the best interest of each client ensuring a fair transaction is maintained at all times. Furthermore, if we fail to comply with the code, sanctions may be imposed and our practise licence could be revoked. We are also required to have suitable Professional Indemnity Insurance, supplying us with cover in the event we make an error.
Debt Collection Process
The debt collection process, although streamlined, can be tricky. A generic Debt Collection firm may be able to fulfil your recovery while it remains un-disputed. However, should the lessee contend the claim, you will face delays in collection while the un-qualified company instructs Solicitors to begin the next stage of the process. SLC Solicitors supply you with a single point of contact from the initial referral, where the initial default has been highlighted, right through every stage resulting in the payment of arrears to your account. Our efficient in-house service avoids the unecessary delays you may have been facing while using an un-qualified company. At SLC we have the debt recovery process covered and we have a dedicated disputes team on hand ready to give our clients the very best advice resulting in the ideal outcome.