Asset Recovery Finance

Asset recovery finance is a niche market and not many firms on the south coast practice Consumer Credit law, which includes asset recovery finance.

It is frustrating when hirers enter into finance then decide not to pay their monthly instalment whilst retaining possession of the asset. At Frettens we help you to deal with this, in many cases after you have exhausted all in-house endeavours to recover possession. Ultimately, your asset is depreciating daily. We take a very robust, but polite, approach in recovering assets on your behalf.

We use a case management system which is specifically designed for return of goods and money claims. This allows our clients to view the progress of their claims online and enables us to operate a 24 hour turn around policy for each new instruction received, whether received electronically or via the post. We work with you, the court and repossession agents to ensure that your claims are progressed efficiently, quickly and thoroughly without time delays.

We have a thorough working knowledge of different types of finance agreements, regulated and unregulated, the implications of registering a default notice and ultimately terminating the agreement together with the Consumer Credit Act. For this alone we have a strong reputation on the south coast in recovering assets from hirers.

Court
Following the notice of intended legal action requesting voluntary surrender within 7 days, county court proceedings will be issued on the 8th day if the asset is not recovered. We will speedily progress your claim ensuring that your hirer returns your asset with or without a judgment for delivery of goods order.

Defence
If your hirer files a defence to the claim, the file will be transferred to the Defended Team for further progression.

Conversion
Once the asset has been recovered and if there is a shortfall figure we shall convert the proceedings into a monetary judgment seeking to recover the further liability figure.

Sundry
Frettens have expertise in fast and multi-track claims, innocent private purchaser claims, injunctive relief, retention of title claims and fraudulent claims.

More information on General Debt Recovery.