Speak to a firm of "professional" debt collectors – if indeed there is such a thing. You could call Roxburghe on 01932 333800 or sales@roxburghe.com. They will as you have indicated you already know, pay you a fraction of the face value of the debt.

You say that the small claims court is not an option because your friend will bankrupt himself. However since this costs £500 to do, I doubt he would. More likely he will simply not turn up. You can have a judgement passed in his absence, then when he fails to pay 28 days later enforce using a firm of bailiffs. The best news – the bailiffs can at this stage collect enough goods to pay their fees too.

You are much better off going through small claims, and you can even kick the process off online at https://www.moneyclaim.gov.uk/csmco2/index.jsp

Hope this helps.

 

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