Debt Collection 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?
My
debt is less than your
minimum fee or within a few
hundred pounds of it can you
still Collect my debts?
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?
I have a question not
answered in this section
what should I do?
What is your success rate
for collection?
Currently 88% for full
collection. 60% of these
have been settled without
court action.
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Why
do you charge a debt
registration fee? 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.
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My
debt is less than your
minimum fee or within a few
hundred pounds of it can you
still Collect my debts?
Actually YES we can we have
another service designed
specifically for these
charging a one off fee of
£24.95 with no further
recovery costs.
CLICK HERE
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What is the process you
employ?
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.
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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.
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The
debtor seems to have
disappeared can you trace
him and how much does this
cost?
Tracing
debtors is all part of our
service and there is no
additional cost for this.
While we cannot guarantee we
will be successful in every
case we do have a very good
trace rate.
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Who
decides if the debt is to
proceed to Litigation?
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.
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The
Debt is disputed can you
help?
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.
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I
already have a County Court
Judgement can you enforce
collection for me?
Yes we have an
excellent reputation within
the industry for enforcing
Judgements, contact us to
discuss.
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The
debtor company is in
Receivership/Liquidation or
Bankrupt, can you help?
Not
usually, if the debtor (LTD
company) is in
administration then they are
protected from their
creditors to a certain
extent. 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.
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When do I have to pay your
fees?
Only if we collect all or a
proportion of the debt. Our
fee is levied on what we
actually collect less VAT
and court costs. Please see
our terms and conditions for
full information.
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If
there is a trial or hearing
will I need to attend Court?
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.
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Can
I recover the court fee /
enforcement fees from
the debtor?
Yes
if you are awarded
judgement.
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Can
I recover your fees from the
Debtor?
No,
unless you have a written
agreement with the debtor
relating to this, so change
your terms for future debts.
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What information do you need
to start recovery action?
Use our "Instruct
us to collect" form to
supply the basic
information, we may request
further details if required.
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I have a question not
answered in this section
what should I do?
Simply contact us by phone,
we are happy to have an
informal no obligation chat.
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