There are two forms to fill out called “appointment of a commercial agent” and our “terms and conditions”. Once we receive those forms (or click here to submit your debt online), we also need copies (if available) of the following;

  • Purchase orders
  • Invoices
  • Credit applications
  • All contact details for the debtor including email
  • Deliver dockets
  • Any email from the debtor to the client where they have mentioned a dispute or acknowledgement of the debt.

Once we receive the above information, the client is loaded onto our system. All the debtors’ information is loaded and scanned and we send out an initial demand letter the same day we load the account. You can fill these forms out on-line of contact our office and fax or email the back.

 

What is our debt collection process?

On day one, we issue a letter of demand to the debtor giving them 7 days to pay the debt. Whilst our operating system generates this letter, we start conducting background searches on the debtor including.

  • Asset searches
  • Company searches
  • Personal directorship searches
  • Trading information on the business

We start looking for motivation for the debtor to make payment and locate any assets that the business or Director may lose personally if they fail to pay the debt. Within the first month, we will have sent a minimum or 3 letters to the debtor as well as contacted them on average twice a week.

We will manage all settlements as well as any payment arrangements. We never accept any payment arrangements without your prior consent.

 

What happens if you can’t collect my debt?

If we are unsuccessful in recovering your debt, we will give you three options.

  1. The debt is uncollectable and we advise you to write the debt off.
  2. You should give consideration to commercial settlement
  3. If legal action makes commercial sense and the debt warrants it, we will explain the legal process and the expected costs involved.

Should you not wish to proceed, we will close our file and the exercise has cost you nothing.

 

What are the legal costs?

The legal costs vary depending on the course of action. We will advise you on what we believe the best path of action is to take. We encourage you to use your own Solicitors; however we will provide you with a quote from the law firms that we recommend.

The law firms we recommend go through a stringent process to be on our panel of solicitors. They must be competent and they must be commercial. The law firms we use, charge on an event basis and not an hourly rate. All costs are capped and quoted so it is easy to budget for the expected costs. You will find we have negotiated the better rates than you will be able to find elsewhere.

 

What if you only collect half the debt or a part of the debt?

We only charge half the commission or we only charge the agreed commission rate on the funds recovered.