What Happens If the Debtor Contacts Me after a Debt Is Submitted?
This is quite common, and is actually often a positive sign as it shows the debtor is now paying attention to your credit. We require that you make no statement other than to direct the debtor to us. This is to ensure that all regulations regarding debt collection are observed (failure to adhere to regulatory requirements can potentially render a debt legally unrecoverable), and that all contact is correctly logged should it be needed for litigation purposes.
How Do You Collect Your Commission Once My Debt Is Collected
How Much Is Your Commission?
What Happens If the Debtor Is in Liquidation/Receivership?
If a debtor is genuinely in liquidation or receivership, no debt collection agency will be capable of recovering the funds. It is, unfortunately, not unheard of for debtors to claim they are in receivership when they are actually still actively trading. Should a debtor be verified as genuinely in liquidation, the debt will be returned to you and no charge will be incurred in line with our no-win, no-fee commitment.
Should You Need to Take My Debtor to Court, Will I Need to Attend?
What Exactly Do You Do When Collecting a Debt?
Can I Recover the Costs of Debt Collection?
That depends on a variety of factors. If in the credit agreement with your debtor you stipulated that they are responsible for the costs of any recovery action, then the debtors can be held responsible for our fees. However, even if this is not a term of your agreement, we can still add some charges onto the debt in line with the Late Payment Act.
Are There Any Upfront Retainer Fees or Ongoing Charges?
If a Judgement Is Awarded, What Is the Actual Likelihood of Receiving a Payment?
Unfortunately, across the UK the statistics are not great. However, this is largely influenced by debt collection agencies and creditors taking debtors to court despite the debtor genuinely being unable to pay. We believe county or sheriff court action to be only valid should the debtor be able but unwilling to pay, and our profiling enables us to identify cases where this is appropriate at an early stage.
We do not store credit card details nor do we share customer details with any 3rd parties.