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I have a situation with a former tenant owing about £2,500 in rent. I have court judgements against both the tenant and their guarantor. However, neither have paid up and there is a large waiting list for the court bailiffs. Any advice on the most practical and quickest way to recover this debt would be much appreciated.
Rural Practice Chartered Surveyor. Experienced in estate management, residential investments, planning and development and rights for utility apparatus. All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
As painful as it may be and as wrong as it is, if you have posession back i would write it off... unless they have obvious assets you will throw good money after bad and wind yourself up even more
As you have applied for bailiffs to collect the debt, the debts will now become registered CCJs. Unfortunately collecting debts through the court court using bailiffs is a bit of a thankless task, as they are overworked and underpaid. You could transfer up to the High Court and use a High Court Enforcement officer, who are more pro-active and are on commission, so more incentivised. If your Guarantor is a home owner you could apply for a charging order?
Founder of Landlord Action and Brand Ambassador for Hamilton Fraser
I'd have to agree and suggest writing it off is the most stress free approach. You won't be the only one chasing them for funds I'm sure.
Sadly I was in the same position last year. Just glad to get the property back in the end !!!
Ben I would say to you give it some thought . Listen to Paul .
I have always got my money back with the judgements .
Make sure the judgements are registered too .It at least warns others when they apply for another tenancy .
If it was done with MCOL they register automatically I believe.
Thanks for your replies everyone.
I will look at the options suggested.
I do wish to see if the arreas can be obtained, especially as I am as far as having judgements. I personally do not find this stressful, just part of running a rental business for me and I am fortunate that it is a rare thing to deal with. For the additional time it will take I should see if I can recoup the lost rent. So far little time has been incurred, just an hour or so of my time as the agents did the court submissions. I'll let update you on what I do.
I know of a company who can help place the client into debt management and as the creditor you would be entitled to money back at a minimum of 10p in the £.Not sure if that is a route you would go down howeverJim