Debt Collection Firms

Abstar

Is there a stigma attached to working in a solicitors' firm that specialises in debt collection? Is work experience in such a firm something that would do more harm than good in the long run to someone's prospects of becoming a trainee solicitor in a top tier firm? Or is that just snobbery? Is any experience better than no experience?

Just something a friend asked - I don't even know what to think! Anyone (potential trainees, esteemed members of the legal profession(!)) got any insightful views?!

McCrack

Not at all it's a growth area and there are some practices doing very well off this area. Any experience in legal is experience so I wouldnt be too concerned the fact that the work is debt recovery.

Be warned though it is very tedious work I'm afraid and unless the amounts are at least in the Circuit Court scale the returns are pretty small.

Tom Young

My view is that this is great experience with easy in roads into a number of areas e.g., Summary Procedure, Payment into Court, Costs, Taxation, Receivership, Examinerships, Liquidations etc.

There are relatively pro forma aspects of the summary and full judgment processes including commercial court judgment procedures which are frankly completed incorrectly so often it's not funny.

OP: I would ignore that. Many of the best commercial seniors at the Bar and Senior Junior and indeed senior solicitors have spent their time in the debt collection trenches. If you think about it, it is the type of work which focusses the mind on getting proofs in order, prosecuting or defending a claim, negotiating same etc.

I think it's a great area to be in. I'd go so far as to recommend that anyone who has aspirations of working in litigation particularly company to get into this. Revenue collections fall into this area for example - that is not going away any time soon:eek:

Practically, if you can earn while taking the FE1s and get that experience, you have a practical talent which can be applied to a larger litigation practice, say in the top 5 etc.

I say don't worry about it.

Tom

focusing

Obviously get something more general / high powered if you can, but if that's the best offer you have: grasp it with both hands!

There will always be work in debt collection, and it's a good introduction into basic litigation.

Abstar

Thanks for the input folks!