Debt Ltd Services
Collection Services
Do you worry about the debt that's owed you? Do you want to collect on the debt without court fees? Debt Ltd's Collection Services can help.
- Our agents will attend at your debtor's premises up to three times to obtain information as to why the debt has not been paid and ascertain the assets available to cover the debt.
- Our agents will attempt to collect all the monies immediately or try to put together a schedule of payments for your approval. When we have collected money for you, we retain 10% plus VAT & send the balance direct to your account.
- If monies cannot be collected you will receive our Report enabling you to make an informed decision as to whether to proceed with legal action.
- Clearly, there are many instances where there is no chance of collecting monies and our information will avoid you having to spend unnecessary, abortive legal fees.
Agents represent you at your late payers' address.
The costs involved
- £117.50 (£100 + VAT) up-front payment for attendance and report; plus,
- 10% + VAT of the monies collected in excess of £1,000.
Example: let's say you have a £3,000 debt you'd like us to collect. On a £3,000 debt the first £1,000 is charged the £100 + VAT report fee; this also includes the collection commission. On the balance of £2,000 the 10% collection commission is charged. So in this case, Debt Ltd would charge a total of £100 + 10% of £2,000 = £300 + VAT.
The up-front payment is made online on our website (why this is secure). The collection commission is deducted from the monies received. The balance is sent to you by BACS.
You can also contact your collection Agent at any time by e-mail. This will ensure continual dialogue for however long your case is open. Should you decide to proceed to court with the case our Agent is able to re-attend the debtor with a warrant.
In order for you to use Debt Ltd's Collection Services, we need you to send us as much information as you've got, including:
- Copy invoice(s);
- Your Terms and Conditions tip;
- Any relevant correspondence;
- Your Letter of Authorisation for us to act for you (supplied with our forms);
- Your payment of £100 plus VAT.
When we get these, we will pass them electronically to the Agent nearest to your debtor. The following pages are easy for you to fill in and give a step-by-step guide to starting the process.