Recovering Debt...
Discussion
coyft said:
To find out which yours is simply take them to the small claims court, you can do this online and it's relatively cheap. .
Money Claim Online is your friend 
https://www.moneyclaim.gov.uk/csmco2/index.jsp
Everyone in the office has put their 2p in so have a couple of questions... (someone is going through the FAQ's etc of that site although wanted some advice)
The company is a not a cant pay or a wont pay, they just 'havent got round to it'!
The debt is 15 months old ish.
The owner is extreamly hard to get hold of I have had people calling 24 /7 all day long. Finally got through and ' i'll get that sorted' They get a statement every month and also have sent threatning letters by recorded post. (The owner signed for these)
Now, we fill out the online claim and he receives a pack, (hopefully this will prompt him to pay) althouth the courts then try to claim the money from him?
We worked out it will cost us about £80 to do. Does he pay this?
Are there any extra fees at all?
Does it matter that he is in Scotland?
How long does this process take?
Thanks.
The company is a not a cant pay or a wont pay, they just 'havent got round to it'!
The debt is 15 months old ish.
The owner is extreamly hard to get hold of I have had people calling 24 /7 all day long. Finally got through and ' i'll get that sorted' They get a statement every month and also have sent threatning letters by recorded post. (The owner signed for these)
Now, we fill out the online claim and he receives a pack, (hopefully this will prompt him to pay) althouth the courts then try to claim the money from him?
We worked out it will cost us about £80 to do. Does he pay this?
Are there any extra fees at all?
Does it matter that he is in Scotland?
How long does this process take?
Thanks.
coyft said:
Ok I'll stop being a lazy git 
sam.r said:
Jokes aside lol could i still do that online claim to a business in Scotland?
A company I used to work for in Scotland used to use two different methodsfor smaller values a debt collection company who took 10% of monies collected there or there abouts (they were quite good with domestic customers and small businesses) (http://www.transnationalgroup.co.uk/debt_collection.htm) although it has been a number of years since I used them.
For larger values £2k plus I had another method for getting money in.
Arresting money due to them by other companies, (Bank arrestments were rarely successful as they didn't have money, but most companies had Debtors you just have to identify them) Local solicitor did this by issuing a 7day letter, court summons rarely contested, then the arrestement (which recovered the solicitors fees also)
good luck!
If he loses he pays the court fees and interest on the debt (which you have to claim for on the initial application) along with the principal sum.
Small Claims is supposed to be a lawyerless forum of dispute resolution so you wont get legal costs awarded if you engage a lawyer.
Basically if you win you get the debt, the interest and the cost of formal recovery back from the defendant.
Small Claims is supposed to be a lawyerless forum of dispute resolution so you wont get legal costs awarded if you engage a lawyer.
Basically if you win you get the debt, the interest and the cost of formal recovery back from the defendant.
AndyAudi said:
...solicitor did this by issuing a 7day letter, court summons rarely contested, then the arrestement (which recovered the solicitors fees also)
http://www.thomashiggins.comLetter Before Action (LBA - as 7 day letter above) = £2
About a week after letter sent you will be sent a form. If you would like to proceed with court action, fill it in and send it off.
might be worth speaking to your bank in future, when they get over their problems at least
Most banks offer debt factoring, i.e they pay you a percentage of the invoice then their credit departments chase the outstanding debts and take recovery action as required.
they do charge for this service but 80 percent of something is better than 100 percent of nothing, and in my experience big banks credit departments are exceptional at putting the shits up small companies and non payers.
Most banks offer debt factoring, i.e they pay you a percentage of the invoice then their credit departments chase the outstanding debts and take recovery action as required.
they do charge for this service but 80 percent of something is better than 100 percent of nothing, and in my experience big banks credit departments are exceptional at putting the shits up small companies and non payers.
RichardD said:
You pay peanuts, you get monkeys.Thomas Higgins are dire.
Lurking Lawyer said:
RichardD said:
You pay peanuts, you get monkeys.Thomas Higgins are dire.
I will give that online claim a go .....
Lurking Lawyer said:
RichardD said:
You pay peanuts, you get monkeys.Just so you are 100% about the costs recovered thing,
You can recover your court fee
You can charge interest on commercial (B 2 B) debts
You can claim statutory compensation.
You cannot claim for debt recovery costs unless that provision is expressly contained within your T&C's / contract.Or that contract came into force after 7Th August 2002 (scotland Only) http://www.debtcollectioncompany.co.uk for more info. or http://www.debtcollectionletters.co.uk 10 x more expensive than Thomas Higgins but there is a very good reason why.
You can recover your court fee
You can charge interest on commercial (B 2 B) debts
You can claim statutory compensation.
You cannot claim for debt recovery costs unless that provision is expressly contained within your T&C's / contract.Or that contract came into force after 7Th August 2002 (scotland Only) http://www.debtcollectioncompany.co.uk for more info. or http://www.debtcollectionletters.co.uk 10 x more expensive than Thomas Higgins but there is a very good reason why.
Edited by jamesuk28 on Saturday 13th October 22:47
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