Debt recovery for construction

Specialist Construction Debt Recovery | Contractual debts and retentions

Contract Recovery Solutions assists businesses, advisers and insolvency practitioners in the recovery of contractual debts and retentions, which can be notoriously difficult to collect, particularly in the construction sector. We have a proven track record in Construction Debt Recovery, we work hard to get you what is rightfully yours. Why not learn more about what we could recover you with our FREE initial review.

All too often a smokescreen is thrown up by main contractors and work in progress, stage payments, variations to the contract and retentions can prove a minefield to collect for all but the experienced specialist. This is where CRS steps in.

Instructing CRS at the earliest available opportunity will ensure that the construction debt recovery is maximised. Contracts at various stages will be assessed and where funds permit and a better outcome achieved, CRS will recommend which contracts can be completed. We secure the contract documentation and ensure that the correct paperwork is in place to support contractual and legal procedures. We quickly assess sums which are justifiably due and which can be collected (so long as the debtor has the ability to pay).

Construction Debt Recovery

FREE Initial Review

CRS provides a FREE initial review of the ledger, detailing the total amount of book debts, work in progress and retentions outstanding from each debtor and a predicted recovery based upon the information provided and the status of the company.

No win no fee collections

Once the report has been submitted CRS will work on the collection of the sums owing, on a fee scale basis – calculated on the sums actually recovered, so as to present a SELF FINANCING COST; the fee scale depending upon the size and complexity of the ledger.

Any fees collected by CRS will be transferred to the client within 7 days of receipt, accompanied by our invoice for the agreed fees.

Reporting

CRS are aware that our client needs to be kept up to date with the progress we are making and we provide a detailed monthly report on each case we take on. Alternatively we can tailor our reporting dates to suit your own needs.

Advisory

As part of our desire to maximise recoveries, we encourage clients to take advantage of our advisory services. We will attend the initial meeting with you as part of your team, to provide specialist advice from the outset of the assignment. We add weight to your credibility and to the success of the assignment.

Check out our Advisory Service which is available for both construction debt recovery and commercial debt recovery.

Legal Claims

Contractual debts are often vigorously defended even when the debt, or at least a significant part of it is due and payable. Spurious counterclaims are raised, often from wealthy contractors in the hope that the claimants run scared for fear of not having sufficient resources to pursue the claims.

CRS have specialist in-house Quantity Surveyors who are trained in pursuing genuine claims and fighting the spurious counterclaims. We have access to After The Event Insurance so that the claim doesn’t cost our client a penny!

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