We would urge all of our clients to use our free debt collection service as it is more effective and after all why should you have to pay to recover your own money.
There may be circumstances however where we can't chase a debt under our free debt collection service. If the debt is owed by an individual (i.e. not a business) then unfortunately we can't apply the late payment legislation that allows use to chase it for free.
Other commercial debts such as retention monies or payments of refunds are also not always suitable for free debt collection.
Another example of where the late payment legislation would not apply is where you maybe in dispute with a debtor and you agree a full and final settlement offer after our involvement. If you are agreeing a full and final settlement offer than that would usually include any other fees such as late payment costs.
The good news is that on these types of debts we charge an industry low 5% on collection of any monies on a no win-no fee basis and if we don't collect anything then there is no charge.
The only term we have to this service is that we charge a minimum of £25+VAT on successful recovery.
So for example, a £1,000.00 debt collected from an individual (i.e. not a business) equates to a £50+VAT charge for the 5% commission. If you had a £100 debt owed by an individual that we collected on your behalf then the 5% charge would be under our minimum £25+VAT charge so it would cost you £25+VAT.
Obviously if we don't collect anything there is no charge.
Please get in touch if you require any further information.