Debt Recovery FAQ’s
If you still have a question that’s not answered below or you need a point clarifying in more detail, simply contact us for an informal chat.
- What is your success rate for collection?
- Why do you charge a debt registration fee?
- What is the process you employ?
- The debtor seems to have disappeared can you trace him and how much does this cost?
- Who decides if the debt is to proceed to Litigation?
- The Debt is disputed can you help?
- I already have a County Court Judgement can you enforce collection for me?
- The debtor company is in Receivership/Liquidation or Bankrupt, can you help?
- When do I have to pay your fees?
- If there is a trial or hearing will I need to attend Court?
- Can I recover the court fee / enforcement fees from the debtor?
- Can I recover your fees from the Debtor?
- What information do you need to start recovery action?
- What area of the UK do you collect debts in?
- I am a creditor / claimant not based in the UK can you still help?
- Do you collect Business to Business debts?
- Do you collect personal / consumer debts?
- I have a question not answered in this section what should I do?
Currently 88% for full collection. 60% of these have been settled without court action.
We have introduced a debt registration fee to reduce the frequency of spurious claims, to aid our own internal money laundering regulations and to cover initial costs like tracing, land registry searches and company searches. The debt registration charge is payable in advance but is deducted from any final success fee we charge. The success fee will only be charged on a full or partial recovery.
For operational and security reasons we do not detail the exact process on our website, however the basic procedure is as follows: In the case of a LTD company debtor we will check their trading status with Companies House, if this search shows a “Proposal to stike off” we will send you a draft letter (free) to send to Companies House to suspend the striking off for 6 months, this will allow us time to recover the debt.
The first demand is made by letter compiling with the pre action protocols of The Civil Procedure rules, and telephone and email. This gives the debtor a 14 day period in which to pay the debt or contact us regarding any dispute or payment proposal. We run certain checks and searches on the debtor to get a fully detailed background. If the debt is not paid within 14 days or no payment proposal agreed then we will advise you as to the next stage, usually either a Court Summons or Insolvency proceedings.
A standard electoral roll trace is part of our service and there is no additional cost for this. If the debtor cannot be found using this system we may recommend using a professional trace service which utilises financial data from the three main credit reference agencies. If a pro trace is required it is conducted on a no trace no fee basis with prices starting at just £40.
We will advise you of the various litigation options, the likely costs and outcomes. The ultimate decision whether or not to proceed with litigation is yours, based on our advice and experience. We only give sound advice, sometimes its what we don’t do that is invaluable to our clients as there is no point spending further funds on legal action if the chance of a successful recovery is low.
Yes, we in fact over 60% of our debts fall into this category. We aim initially to negotiate a settlement between both the Creditor and debtor. If this is not successful we will advise our clients on the likelihood of a successful claim should the matter proceed to court.
Yes we have an excellent reputation within the industry for enforcing Judgements, contact us to discuss or see HERE for further details
Not usually, if the debtor (LTD company) is in administration then they are protected from their creditors. If they are in Liquidation then the chance of receiving full payment is very low. If an individual debtor has entered into an IVA or Bankruptcy again we will probably not be able to help. You should contact the administrator / liquidator / Insolvency Practitioner or Official Receiver direct.
Only if we collect all or a proportion of the debt. Our fee is levied on what we actually collect less court costs. Please see our terms and conditions for full information.
If the case is defended you will have to attend or send somebody that dealt with the case to explain the nature of the debt to the court.
Yes if you are awarded judgement.
No, unless you have a written contractual agreement with the debtor relating to this, so change your terms for future debts. For business to business debts we will add statutory compensation for you this varies from £40 – £100 per overdue invoice. This compensation is designed to cover your debt collection costs but in most cases it is inadequate
Use our “Instruct us to collect” form to supply the basic information, we may request further details if required. We require your details, the debtors details, debt amount, invoice numbers and a brief outline of what the debt relates to. We do not at this stage need to see copy invoices or agreements unless requested.
We only collect from debtors based in either England or Wales. If your debtor is outside these areas we are unable to help
Yes, a large percentage of our clients are based abroad
Yes, B2B debts are our main area of expertise.
Yes we can assist in these cases.
Simply contact us by phone, or email, we are happy to have an informal no obligation chat.