Debt Purchase

 

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Debt Collection

Debt Purchase are pleased to be able to provide a credit control function in relation to your full sales ledger, backed up by a specialised debt collection service on a pre-legal 'No Success, No Fee' basis, including monthly reporting, credit searches and debt tracing services if appropriate.

For further information on this service, please contact our team.

Debt Collection Fees

*Free Debt Recovery if the debtor pays our Collection Fees.

The Fee Structure below operates on a pre-legal 'No Success, No Fee' basis.

 UKEuropeWorldwide
Phase 1 Commission up to £3,00010.00%15.00%20.00%
Phase 1 Commission over £3,0005.00%7.50%10.00%
Phase 2 Commission up to £3,00020.00%30.00%40.00%
Phase 2 Commission over £3,00010.00%15.00%20.00%
Phase 3 Commission up to £3,00020.00%30.00%40.00%
Phase 3 Commission over £3,00010.00%15.00%20.00%
Minimum Commission£100.00£120.00£140.00
Phase 4 (Legal) = Court and Solicitors′ Fixed Costs Only (if debt is undisputed and undefended)
Free Litigation Support is provided by DP during the course of any legal action taken.
Phase 4 Commission (Legal)30.00%35.00%40.00%

The above commission rates relate to commercial pre-legal debts of less than six months old.

For post-legal and older debts, commission rates are available on request.

Commission rates on Insolvency Book Debts vary from case to case. Commission rates are available on request.

Fees for Status and Risk searches and all other services we provide are available on request.

The different ′Phases′ shown above relate to contact with the debtor by post, email & fax throughout the stages of the collection process.

*Late Payment Interest and Compensation on Commercial Debts is legally enforceable, our Collection Fees are not.

*If the debtor does not pay our collection fees, you the creditor are liable for our Collection Fees in the event of any recovery being made.

Debt Collection Terms and Conditions
  1. Debt Purchase (hereinafter referred to as DP) agree to provide the Client with Debt Collection Services. The acceptance of instructions by DP from the Client shall be deemed as acceptance of these Terms & Conditions by the Client.
  2. The Client shall agree to pay any commission charges for all accounts referred to DP and subsequently paid from the date of referral of the account to DP and on all payments received after this date. Any work undertaken by the Client and or third parties shall not affect the Client's liability to pay DP fees.
  3. All debts passed for collection will be subject to the commission rates shown on our website and unless stated otherwise are on a pre-legal 'No Success, No Fee' basis. (Rates are subject to change and will apply as at the date of instruction).
  4. On instruction the Client will inform all concerned within their organisation that with immediate effect they must not speak with, correspond by letter, email or fax with the debtor or anyone associated with the debtor.
  5. Once a debt has been passed to DP, all monies that are recovered by the Client from whatever source and whenever received are subject to commission at the stated rate.
  6. DP reserve the right to withdraw, refuse and discontinue our services at any time, or to refuse to accept any new collections by giving notice in writing to the said Client.
  7. Termination of the service by the Client in the matter will not prejudice the right to pay DP the commission in full based on the instructed debt and the stated rate.
  8. If a Client has agreed to accept goods or services in lieu of payment of the said debt, DP will invoice the Client based on the instructed debt and the stated rate.
  9. Any suggestions or advice given by DP shall be without prejudice and DP shall not be liable for any suggestions or advice given, or for any losses incurred by the acts or omissions of agents or lawyers appointed at the request of the Client by DP arising from circumstances of any kind beyond the direct control of DP. Neither shall DP be liable for any consequential losses by the Client.
  10. The Client will at all times be liable for any fees incurred by agents or lawyers appointed by DP on behalf of and with the consent of the Client.
  11. The Client shall settle accounts rendered by DP within 7 days on receipt of invoices.
  12. If the Client is a Limited Company or a Limited Liability Partnership and is unable to pay the invoice amount, then the invoice amount will be payable personally by the Directors or Partners.
  13. All losses, costs and disbursements incurred by DP through late payment by the Client will in all cases be charged back to the Client.
  14. If you do not pay us on the due date, then you will pay:
    *interest at 8% above the Bank of England base rate as prescribed under the Late Payment of Commercial Debts Regulations 2002 and the Late Payment of Commercial Debts (Interest) Act 1998; and:
    *compensation/debt collection costs as prescribed under the Late Payment of Commercial Debts Regulations 2002 based upon the amount outstanding (which are currently as follows:
    Debt up to £999.99 - £40, debts £1000 to £9,999.99 - £70, debts of £10,000 and over - £100)
  15. The above Terms & Conditions are subject to English Law and the exclusive jurisdiction of the English Courts.