Someone owes me money and won't pay – What are my options? - Cobra Financial Solutions Ltd

No-nonsense, straight-talking debt collection service

If an individual, group or organisation owes you money and refuses to pay, there may be ways you can recover the debt. The action you take will pretty much depend on how large the debt is and your ability to prove that a certain sum of money is, in fact, owed to you.

In any case, it’s important to know what the next course action should be in case someone refuses to clear their debts with you:

Contact the borrower

If you are successful in contacting the person, then that’s good news. It means they are willing to pay, perhaps not now but at some point. Speak to them very politely and courteously, telling them that they are past due and that you need them to pay you back. Come to a formal agreement and ask them to give you their word in writing.

Sometimes, this may not go as planned so you might want to write a letter, reminding them:

  • The sum they owe you
  • How long they’ve owed you
  • What the sum was for
  • When they were supposed to pay you or the repayment terms
  • The steps you have already taken to contact them to try to get the money back


In addition, the letter should also have:

  • The name(s) of the person(s) and/or parties involved
  • Dated copies of all the paperwork pertaining to the debt
  • The date which they were supposed to pay
  • A request asking the debtor to reply to the letter clearly stating why they have not paid
  • Details of the steps you may take in order to settle the debt


With that said, do not use any threatening or intimidating language, as you do not want to get drawn into a heated argument. Also, avoid mentioning anything about legal action, as that should always be done as a last resort.

Ask the courts for help

If you can’t establish contact with the debtor or they simply refuse to acknowledge any of your correspondence, then you might register a claim in court. This, again, should be done as a last resort, so it’s always a good idea to seek independent advice first, such as that offered by a debt collection agency.

When filing a claim against unpaid debts, keep the following in mind:

  • It could be months before the court takes up your case
  • There’s absolutely no guarantee you’ll get your money back
  • If you lose the claim, you’ll have to pay legal fees for the opposing side
  • If the opposing side is out of work or declares themselves bankrupt, then it may be almost impossible to get your money back


Talk to a debt collection agency

Debt collection agencies have specially trained solicitors who have legal authority to do whatever is necessary in order to recover your debt. They may employ additional legal staff as well in order to strengthen your case and put the spotlight on the debtor.

Talk to Cobra Financial Solutions

If none of the steps above work, then it’s time to give us a call. Our approach to debt recovery at Cobra is unlike the above. We don’t believe in lengthy court battles, mudslinging and playground antics. We simply think that if you’re owed money, you deserve to get it back.

So, with this being always at the forefront of everything we do, our costs and approach to work are determined by the way we handle ourselves in these types of situations, and we are certainly not restricted by statutory court processes and exuberant solicitors’ fees. Call us now on 0151 526 4222.

Find out more about our awards and accreditations +