Q. What is the minimum and maximum debt amount you will work on?
Q. What do I do to get started?
Q. How long shall I give my debtor before transferring the debt over to you to collect?
Q. Shall I take my debtors to Court or use a Debt Recovery Company like Harley Legal?
Q. I already have a Court Judgment on a debtor, but he still wont pay, what do I do now ?
Q. After I send you in some debts to collect, how will I know what progress is being made and how long does it take you to collect?
Q. We suffer from bounced cheques, but cannot trace the debtors. Can you help ?
Q. What is the minimum and maximum debt amount you will work on?
A. We do not have a minimum debt value. However, we have a minimum charge of £35 per debt collected (of course payable only if we recover). We also have no maximum debt value. Generally, debts we work on are usually valued between £100 and £100,000. As an established agency, we have the capability and capacity to collect any size or volume of debts. Some clients submit 1 debt every so often, while others will send us a list of hundreds of debts for collection.
BACK TO QUESTIONS
Q. What do I do to get started?
A. Its easy - we have 2 options. If you only have a few debts that need collecting, then we suggest you simply submit the debts online so we receive the debts without delay. We usually start working on your behalf the same day you submit the debts. If you have a list of debts then simply download our Debt Collection Instruction Form & post, fax or scan and email the form to us, together with a separate list of your debtors (either printed or in an Excel or CSV file) or you can simply send us copies of your unpaid invoices or statements. We are flexible and can work with you to make the process as easy for you as possible.
BACK TO QUESTIONS
Q. How long shall I give my debtor before transferring the debt over to Harley Legal & Collections Ltd?
A. When it comes to debt collection, time is of the essence. We strongly recommend that you use a debt recovery company as soon as you sense even the slightest problem. The reason for this is simple, if you have money owed to you, chances are the person or company avoiding payment has cash flow or financial problems of some sort. The debtor will obviously pay the most important payments first while leaving the less pressing ones last. Our job is to make sure the debtor will pay YOU first before their other creditors and before it becomes too late. Its a well known fact that 1 out of 3 small business fold in the first 2 years of trading in the UK and it is sometimes too late to collect anything. You could end up LOSING ALL YOUR MONEY. Time is the single most important factor of Debt Recovery and we urge our clients to stop thinking about it and simply submit the debt immediately. After our commission, receiving 85% of your monies back is obviously better than getting 0% if you leave it too late.
BACK TO QUESTIONS
Q. Shall I take my debtors to Court or use a Debt Recovery Company such as Harley Legal?
A. Obtaining a Court Judgment does not guarantee successful recovery. You are also never guaranteed to win. The only thing you are guaranteed is an outlay in advance, together with substantial legal fees and a long delay before court proceeding take place (with extra delays if the debtor disputes all or part of the debt). Even if you are successful and are awarded Judgment, you have to enforce the debt which will cost you even more money and once again take time. Debtors can still avoid or delay paying you, even if you do have Judgment logged against them. Unfortunately, there are many legal twists and turns available to debtors and if they know the system, you are unlikely to recover anything. Debt Recovery Companies such as Harley Legal & Collections Ltd will use swift pre-court methods initially, as we want to recover your monies as swiftly as possible. If the debt is still uncollected and all our regular efforts are used, we will re-investigate the profile of the debtor and the feasibility of recovering our costs with Legal and Enforcement procedures. As we are extremely experienced, you can be assured that whatever course of debt recovery action we will take for your particular debts, it will be the best possible method to collect as swiftly as possible whether pre-legal or legal with full enforcement procedures.
BACK TO QUESTIONS
Q. I already have a Court Judgment on a debtor, but he still wont pay, what do I do now ?
A. We will help you to enforce the debt swiftly. Please submit the debt to us for collection and we will firstly investigate the profile of your debtor then immediately proceed with action. As each case has to be judged on its own merits, the type of debt collection action will depend on certain criteria such as the amount of the debt, the profile of the debtor and the feasibility of recovering our costs. We will utilise some of the following options to recover your Judgment debts including (but not limited to):
- Bailiff Services
- Oral Examinations in Court
- Warnings and subsequent data exchange with Credit Reference Bureaus
- Investigations for any assets
- Investigations for any illegal or criminal business activity by the debtor
- Statutory Demands towards the petitioning for a winding up order
- Bankruptcy for individuals or the Winding Up of limited companies
Again, we will take whatever action we feel is necessary and cost effective on a No Success = No fee basis to recover your debts as swiftly as possible.
BACK TO QUESTIONS
Q. After I send you in some debts to collect, how will I know what progress is being made and how long does it take you to collect?
A. As soon as we have positive or negative news, we will contact you. You can also contact us by email or phone whenever you wish for an update. We will be able to advise you of our progress immediately as we are completely computerised. With regard to the length of time we need to recover, some debts we manage to collect within a few days if the debtor co-operates with us and wishes to avoid enforcement action while hardened debtors can take a few months to pay up. However, our average collection time is usually within a month. You can always email or call us should you require a progress report.
BACK TO QUESTIONS
Q. We suffer from bounced cheques, but cannot trace the debtors. Can you help ?
A. Not usually a problem for us. We can usually make contact with your debtors through various methods as long as we have a copy of the cheque.
BACK TO QUESTIONS
|
