There can be many cases where a company owes you money and there are routes you can take for this to be sorted, which will be presented below.
Mediation:
- Mediation is a way to sort out relationships when there is controversy at work or to do with a company owing you money.
- It can also allow everyone who is involved to have a sense of control of what in the end is agreed.
- In short terms a mediator is the neutral person, they tend to not take sides and lastly, they are there to help everyone involved in this dispute and find a solution for the dispute.
- Mediation tends to be a quick way to resolve things as it is less formal meaning it is not a typical court room setting.
- It is voluntary, confidential and it tends to not be legally binding.
- There are many benefits to mediation, but the important benefits in favor by many people is that it reduces stress and that you can avoid paying high costs for it.
- If your claim is £10,000 or less you will most likely have to attend a mediation meeting[1].
Court Action:
If a company owes you money you can also just go through the traditional way of going straight to court if you find the mediation does not work.
- Where the court may order for the money to be paid to the company directly.
Make an official demand for the money that you are owed:
You can also make a demand to the company meaning you do not need a lawyer also known as a statutory demand.
- If your demand is ignored or for some reason the company cannot pay you the money you can apply to court and make someone bankrupt (if you are owed £5,000 or more by a company)[2].
- You can even get the company wound up (liquidated) if you the company is owes you £750 or even more[3].
Costs may be high and there is not a guarantee that you can get your more back, but you can ask for legal advice before making a statutory demand if you are unsure about anything.
These are the options you can take if a company owes you money. If you have any queries, please contact us.
[1] https://www.gov.uk/options-if-youre-owed-money
[2] https://www.gov.uk/options-if-youre-owed-money
[3] https://www.gov.uk/options-if-youre-owed-money
