Our clients instruct Debt Collect UK on a no collection no fee basis and we do not charge any upfront fees or registration costs.
We also work in connection with a firm of solicitors who after carrying out a risk assesment on a business or individual that we are pursuing will present a Winding Up Petition or Bankruptcy Petition free of charge. If the risk assesment fails then costs vary for raising proceedings and can be provided on request.
Our rates are as follows –
Business to Consumer Debts – Debts under a year old 15% of the total amount collected, over a year old 25% of the total amount collected.
Business to Business Debts – Debts under a year old 10% of the first £10,000 collected and 5% thereafter, over a year old 15% of the total amount collected.
We use UK Government Late Payment Legislation for add feasible Debt Recovery Costs and interest from the due date of our clients invoices to the original sums owed for Business to Business debt recovery. If we can get a company to pay then we have a good success rate in the recovery of the costs and interest which take up a large percentage of our fees if not all of them.
We are currently unable to add any additional fees to Consumer collections in the UK due to a change in legislation. We can however add court and legal costs to the sums owed if we have to raise proceedings.