Step 1: Register for your free Ko-bolt account (Swoop discount automatically applied).Step 2: Once registered you can place a debt. Step 3: Ko-bolt reviews your information for, amount other things, regulatory compliance.Step 4: Ko-bolt issues your customer with a written request for payment, which summarises the debt value, plus interest and charges.Step 5:  Ko-bolt’s debt resolution team contacts your customer by phone to discuss their liquidity position and negotiate the best solution for all parties.Step 6: If your buyer has not responded Ko-bolt issues a written final demand – this is the final opportunity for your customer to respond before Ko-bolt engages a solicitor to recover the debt.Step 7:  Ko-bolt’s specialist legal partner sends a Letter Before Action (LBA) to your customer, at no cost to you. This is a legal requirement before legal action can take place and is very effective at engaging the customer.Step 8: If you still haven’t been paid, Ko-bolt pursues payment via legal action, which may involve the issue of a Statutory Demand or a County Court Summons. A solicitor will review your file before making their recommendation on the best course of action – they will not take any action without your authority.