Business Debt Recovery, Commercial Debt Recovery, Surrey, London, Dorset
Business Debt Recovery, Commercial Debt Recovery, Surrey, London, Dorset
AVC Debt Recovery, Surrey and Dorset
AVC Debt Recovery, Surrey and Dorset

Commercial Debt Recovery & Business Debt Recovery Fees

  • It's simple:our standard offer is no collection no fee. We only charge if we are successful in recovering monies - not by the hour.
  • We will look at recovering any business debt over £600.
  • Our fees are typically 15% of the monies you are owed from the debtor.  
  • We deliver you a percentage of something as opposed to 100% of nothing so delivering  a service that adds value to your business.
  • Where the matter is bound for the court you pay any charges or disbursemnets, but we manage the process to ensure your monies are in your account not someone else's.
  • Any reasonable fees we add on to the amount owed to recover the debt and any interest due  are all paid by the debtor under the Late Payment of Commercial Debts (Interest) Act 1998 and subsequent amendments.
  • Any court fees (if required), tracing fees or disbursements (if requested by you) or special instructions are payable by you. It really is that simple.

 

Please call us on 0333 121 0161 to receive an immediate complimentary no obligation debt recovery/debt collection consultation; or use our 

contact form.

 

At all times we keep you posted on all matters and we will not advise you to take court action if the chances of you getting paid are not good.

 

Unlike other agencies we do not advise court action or take large legal fees if we feel the debtor has no assets, or court action that will leave you better off in principal but worse off fiscally (we always advise clients never to go to court on a matter of principle).

Here we apply the 3 Ps

Payment Precludes Principle.

We apply all facets of the law that recovers your invoiced monies.

 

 

Our pro-active approach is to get you to the top of the list for payment.

 

  • We have covered all businesses and worked with and recovered from sole traders right up up to multinationals
  • We have enacted debt recovery negotiations in UK, BRIC, LATAM, EMEA, USA, Canada and Australasia.

 

Our purpose in Business Debt Recovery is to put you at the front of the queue and we only act for you not any other creditors there might be. To successfully recover any debt our experience has told us to tell you that it is vital to act decisively and quickly.

 

AVC Debt Recovery Process

  1. Contact us.
  2. Discuss your requirement.
  3. Sign AVC Debt Recovery Form of Authority to enable us to collect your debt.
  4. Send to AVC Debt Recovery copies of all issued invoices, exchanges of correspondence and agreements.
  5. AVC Debt Recovery initiate telephone contact with debtor.
  6. Negotiation/Clarity
  7. Initial letter/demand.
  8. Final Demand.
  9. Discussion on total process (payment plans etc guided by the client).
  10. Legal Action.

UK Business Debt Recovery 0333 121 0161 or use our contact form.

 

We also offer a follow up contract law advice service e.g. credit checks,  improvement areas in payment terms and contractual insertion of payment terms.

Please see our In House Debt Recovery Packages

 

UK Business Debt Recovery Dorset, UK Commercial Debt Collection Surrey No win No Fee UK Debt Recovery

DEBT RECOVERY/COLLECTION FEES

The Late Payment of Commercial Debts (Interest) Act 1998 and subsequent amendments is an Act enabling businesses to charge other business customers interest on overdue accounts and to obtain compensation on the debt recovery process. The Act extends to Scotland and Northern Ireland.

 

The UK Parliament and the EU have recognised the detrimental effects to small businesses and therefore the economy of poor payment and have amended the legislation several times since 1998. The most recent amendment came in 2013 when the provisions to allow the recovery costs of a third party to be claimed from the debtor.

 

Late Payment Compensation

 

Unpaid Debt                                    What you can charge

Up to £999.99                                     £40

£1,000 to £9,999.99                            £70

£10,000 or more                                 £100

 

You can cover the cost for doing so from that customer, as long as you adhere to the rules set out by the Late Payment Legislation.

 

The following is the Government’s own guidelines relating to what a late payment is, and what you can do about the cost of recovery.

When a payment becomes late

You can claim interest and debt recovery costs if another business is late paying for goods or a service.

If you haven’t already agreed when the money will be paid, the law says the payment is late after 30 days for public authorities and business transactions after either:

the customer gets the invoice

you deliver the goods or provide the service (if this is later)

You can agree a longer period for payments from one business to another – but if it’s longer than 60 days it must be fair to both parties.

 

Interest on late commercial payments

The interest you can charge if another business is late paying for goods or a service is ‘statutory interest’ – this is 8% plus the Bank of England base rate for business to business transactions. You can’t claim statutory interest if there’s a different rate of interest in a contract.

You can’t use a lower interest rate if you have a contract with public authorities.

The current Bank of England base rate is 0.50%, so statutory interest for a recent debt would be 8.50%.

 

Example

If your business were owed £1,000:

  • the annual statutory interest on this would be £85.00 (1,000 x 0.0850 = £85.00)
  • divide £850.00 by 365 to get the daily interest: 22.60p a day (85.00/ 365 = 0.2328 p  23 pence per day)
  • after 50 days this would be £11.64 (50 x 0.23 = 11.64).
UK Business Debt Recovery, Business debt Recovery Dorset UK Business Debt Recovery, UK Business Debt Collection

 

REQUEST A CALL BACK

Worried a late payer may become a bad debt? Call us to receive a complimentary no obligation business debt recovery consultation.

 

 

For UK Business Debt Recovery  that delivers for you use our

contact form

or call 

0333 121 0161

 

FREE no obligation consultation on  how we can deliver your monies into your account.


Visit our partner company for any contractual issues

CW Contract Law and Legal

 

 

Offices

Head Office

AVC Debt Recovery Dorset

60 The Esplanade
Weymouth

Dorset DT4 8DE

 

AVC Debt Recovery Surrey

19 High Street
Great Bookham

Surrey  KT23 4AA

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