The cost of recovery must always be balanced with the size of the debt and the chance of success. Sometimes it is better to cut your losses and move on. Debt-Recovery-UK will help you make the best decision for your particular case.
The information on this page can help you weigh up the risks.
You can call for free advice on 020 8906 1327
When instructing us, to proceed for debt recovery, we need a breakdown of the debt you are owed, copy of invoice, account breakdown etc, so we have the information to proceed.
What are the chances of recovering your debt?
- The very first stage is to determine the chances of recovering the debt to see if it is best to pursue action or cut your losses.
- After weighing up the cost of recovery with the size of the debt, we will be able to put a strategy in place for you to recover your money.
In our experience, most cases are resolved at this stage.
- Debtor Tracing
If the whereabouts of your debtor is unknown and there is no guarantor, our dedicated tracing team can track them down so that we can pursue them. - Initial Negotiations
We will contact the debtor and try and negotiate a settlement prior to taking legal action. We only pursue legal action as a last resort. - Letter Before Action
If initial negotiations with your debtor are unfruitful, we will draft a Letter Before Action indicating that if the debt is not paid in full within seven days, court proceedings will be issued without further notification.
Depending on the strategy of debt collection, we provide a number of services to help you recover your debt.
- Small Claims Summons£299
- Attachment of Earnings£399
- Charging Order£499
- Bankruptcy Demand (against individuals)£449
- Winding Up Demand (against companies)£449
If we cannot locate the whereabouts of your debtor, we will refund this fee.
Once the court has ruled in your favour, if the debtor still does not settle the outstanding debt, our registered bailiffs can be instructed.
Alternatively, you can ring our friendly advisors who can help you determine which service is best for you on the Debt-Recovery-UK free advice line, 020 8906 1327.