Frequently asked questions
Every case we deal with is different and it depends on how to the debtor reacts to our debt recovery methods, but we will know within the first three to four weeks if the debtor is going to pay us without the need for court action.
Yes, we can deal with all types of legal action against debtors if our debt recovery methods are unsuccessful, from litigation, Winding Up Petitions, raising a Judgment in England and Wales, or a Simple Procedure Action or Decree in Scotland. We can also get Judgments or Decrees enforced for you using High Court Enforcement Officers in England & Wales or Sheriff Officers in Scotland.
Yes, we will charge any legal and court fees back to you at cost so we make no profit on these fees, we simply charge you what we are charged to raise the proceedings. We will outline these costs to you clearly and carry out some due diligence on the company we are pursuing for you to advise you if we think it is worth raising proceedings in the first place. If you wish to proceed we will raise and invoice and ask you to pay this upfront as we are asked to pay these fees upfront by the courts before proceeding with any action.
Yes, we are very experienced in presenting Winding Up Petitions against companies or Bankruptcy Petitions in England & Wales and Sequestration Petitions in Scotland if we are pursuing individuals. All of these actions come with a cost, which again we make no profits on and charge back to you at cost. We work with a panel of excellent, experienced litigation solicitors and insolvency professionals who can arrange this for you.
Yes, we use The Late Payment of Commercial Debts Regulations 2013 https://www.legislation.gov.uk/uksi/2013/395/contents/made to add feasible debt recovery costs and interest at the Bank of England base rate plus 8% from the due date of your invoices to the original sums you are owed. If we can make a recovery from a company then we have around a 75% success rate in recovering these costs for you, which will take up a large percentage of our fees if not all of them.
Yes, we will pursue the costs and interest for around two weeks from the Principal Sum being paid in the same way we pursue a debt. If a recovery of these additional costs can’t be made then we will raise an invoice to you for our fees for the collection. You are welcome to raise your own proceedings against the debtor to recover the costs and interest as it is law that they pay these costs.
No, only some debt collection agencies need to be regulated by the Financial Conduct Authority in the UK. It depends on which type of debt collection work they are carrying out for their clients. Any Debt Collection Agency collecting debt which relates to Consumer Credit Agreements such as Credit Cards, Loans or Utility Debts against individuals or who buy debt need to be registered with the FCA to carry out this type of work. Debt Collect UK specialise in Business to Business Debt Collection so we have no need to be registered with the FCA, although we are members of the Credit Services Association https://www.csa-uk.com/ and also The Chartered Institute of Credit Management https://www.cicm.com/ who regulate our industry and other credit professionals.
No, some Debt Collection Agencies will ask you to pay an upfront fee or registration cost to collect your debt for you. Debt Collect UK would strongly advise you not to pay any of these upfront costs, as from experience they are just trying to rip you off. They will take your money and you may not hear from them again, this leaving you further out of pocket.
Yes, all our cases are instructed on a no collection no fee basis and we do not charge any upfront fees or registration costs. This means that we will not charge you a penny until we have collected your debt for you. This gives you some additional peace of mind that you are not going to be ripped off and also that we will work tirelessly to recover your debt as we don’t get paid until you do!
Yes, we can. Our tracing agent has over 35 year’s experience in finding people and businesses that may have just disappeared. Our traces are also instructed on a no trace no fee basis and should we locate their whereabouts we will provide you with a detailed Trace Report.
The more evidence you have the better before you instruct a debt collection agency. If you have a written signed contract or credit application form to supply goods or services then this is some excellent evidence for debt collection agencies. However we are aware that not everyone will obtain this, so an invoice or statement along with any contact details you have for the debtor will suffice.
No. Once you are awarded Judgment or Decree (either because it is undefended or because a dispute has been resolved in your favour) this does not guarantee payment, a lot of people have a misconception that it does. We will need to take further steps to recover the Judgment if it remains unpaid through High Court Enforcement, Bailiffs, Bank Arrestment, Attachment of Earnings, Charging Order, Inhibition or Winding Up Petition, which we can arrange for you and talk you through the process.
Yes, we can collect debts in any major countries in the world. Please contact us for International rates which we can provide on request.
We can collect debts from £2000.00 upwards, we regularly collect business to business debts for millions of pounds for our clients.
