Debt Collection and Recovery - Business
Improve your cash flow with our debt collection services. Bad debts and slow payers are a common problem in business - but don't drain your resources further by turning to a debt collection agency. Take advantage of our cost-effective system which has been tried and tested over many years with banks, credit card and finance companies.
No debt is too small or too large for our debt collection team. All you have to do is send us a copy of the relevant invoices. We enter the details on our system and a demand letter is sent immediately to the debtor requesting payment within seven days. In default of payment, court proceedings will be instigated incorporating a claim for interest, costs and fees. Each step in the process, from judgement to enforcement, is taken automatically at the earliest opportunity to enhance the prospects of recovery.
In this section you will find information on:
- Commercial Debt Collection
- Property Debt Collection
Chartered Legal Executive
020 8461 6166
Illustrative Examples of Fixed Fees for the Recovery of a Business to Business Debt That is Undisputed
These costs apply where your claim is in relation to two unpaid invoices which are not disputed and enforcement action is not needed, following our entry of a County Court Judgment and payment secured. If the other party raises a genuine/significant dispute to your claim at any point, we will discuss any further work required and provide you with revised advice about costs if necessary. This may involve continuing under our fixed fees formula, or at an hourly rate if more extensive work is needed.
Anyone wishing to proceed with a claim should note that:
- The VAT element of our fee cannot be reclaimed from your debtor.
- Interest and compensation may take the debt into a higher banding, with a higher cost.
- The costs quoted above are not for matters where enforcement action, such as a bailiff or High Court Enforcement Officer is needed to collect your debt.
Our fee includes:
- Taking your instructions and reviewing documentation
- Undertaking appropriate searches
- Sending a letter before action
- Receiving payment and sending onto you, or if the debt is not paid, drafting and issuing court claim
- Where no Acknowledgment of Service or Defence is received, applying to the court to enter Judgement in default
- When Judgement in default in received, write to the other side to request payment
- Accounting to you if payment is received, or providing you with advice on next steps and likely costs
In a Business to Business debt matters usually take 5-8 weeks from receipt of instructions from you to receipt of payment from the other side, upon the entry of judgment. This range will depend on whether or not it is necessary to issue a claim. This is on the basis that the other side pays promptly on receipt of Judgement in default. If enforcement action is needed, the matter will take longer to resolve depending on the enforcement routes taken, the defendants reaction to them and the inter-action with the court office.