Debt Recovery Fees – how it works

You don’t want getting your money back from clients and customers to turn into a bigger problem than you originally anticipate, If necessary, debt recovery solicitors are on hand to help you recoup the monies owed to you. You may not have considered it before, but by finding an efficient and professional online solicitor, you could begin the process of debt recovery in a matter of minutes.

Many online solicitors will require you to create an account with them; a painless process that doesn’t take long, but should allow you to better communicate with them. Just having a solicitor send a letter before action detailing the amount owed to you should not cost you a lot, neither should a late payment demand. The Thomas Higgins Partnership charges one £2.00 plus VAT for a letter before action no matter how much the debt is. However, should the case go to court then, naturally, there are further cost and fees. If the amount you wish to claim back is under £100,000 then you will proceed through the Claims Production Centre, which is a cheaper process than going through your local County Court.

Debt recovery should be a part of your right as a business because without it you may have to write off a significant amount of money from your company. It is important you choose debt recovery solicitors that you feel you can work with and will best help you to recover the money that is owed to you. There is always likely to be a cost involved when using such a service, but choose the right one and those costs will be minimal.

Leave a Comment