Our Debt Recovery team provides a highly efficient and cost effective service, providing essential support to a rapidly growing number of clients.
We have extensive experience in the provision of streamlined Debt Recovery services, particularly in dealing with undefended claims. We administer high volume debt recovery for blue chip clients, and provide appropriate reporting. The debt recovery team delivers the highest possible level of service at economic rates.
The overriding objective in any debt recovery process is to proceed quickly to maximise the chances of recovering money in an economical way. This necessarily involves responding quickly to instructions, taking the action which is appropriate to the circumstances, and selecting the methods of enforcement which are most appropriate to those circumstances.
We offer a wide range of debt recovery services at extremely competitive* prices. We have a case management system for handling all our clients’ debt recovery needs. It has enabled us to increase efficiency and so reduce charges. Key features of this service are:
- 7 day demand letters are issued for a flat fee of £10 per letter irrespective of the size of the debt;
- two forms of statutory demand - a 48 hour demand (limited company only) and a 21 day demand (limited company or individual) issued for £50;
- undefended bankruptcy or liquidation petitions issued for £450;
- registration of English court judgments (including monitoring of payments) carried out for £90
- We can accept instructions by e-mail, and in the case of £10.00 letters, e-mailed instructions by 4.00pm will result in a demand being sent off that day.
Should you choose to litigate, we can draft, lodge and initiate an action on your behalf in the appropriate sheriff court. For undefended debts up to £3,000 (Small Claims) we charge a fixed fee of £110 plus Late Payment compensation if applicable, for undefended debts between £3,001 - £5,000 (Summary Cause) a fixed fee of £175 plus Late Payment compensation if applicable applies and for undefended debts over £5,001 (Ordinary Action) a fixed fee of £250 plus Late Payment compensation applies.
Should the court action be defended, costs can often escalate, particularly if matters become protracted. With that in mind, we offer a capped fee of £950 in Small Claims actions, to cover all work from the case becoming defended to concluding the case; £1,250 in Summary Cause actions (on the same basis), and in defended Ordinary Actions our costs are charged on a time basis at £180 per hour.
NB: * All fees are subject to VAT and outlays where appropriate (e.g. court costs).
Full details of our Debt Recovery service are available by contacting Jane Lewis, Credit & Recovery Manager, or call +44 (0)141 303 1100.