It is an essential part of every business to keep cash flow at a healthy level and control debtors.
Failure to keep a tight grip on debtors could have disastrous consequences for any business. If your debtors do not pay, you will not be able to pay your creditors and the downward spiral begins which could eventually end in your or your companies’ insolvency. It therefore cannot be over stated that it is crucial the level of your business’ debts are maintained at a healthy level.
OUR SERVICES INCLUDE
- Debt collection
- Improve your cash flow
- Maintain your customer loyalty
- Reduce the risk of bad debt problems
- Prevention of foreclosure, repossession, legal action
- Assistance with knowledge and skills to help you make better financial decisions
When immediate action is required to recover your outstanding monies our service provides the facility to take legal action, the fees of which will be added to the costs recoverable from the debtor.
We offer a fixed fee personal service for undefended debts with constant contact being kept with our clients in order to update on progress. Our fixed fees for undefended claims are set out below.
HdS DEBT COLLECTION CHARGES FOR DEBT COLLECTION
(UNDEFENDED)
FROM 1 January 2022
ISSUE CLAIM
| DEBT (INC INTEREST) | COURT FEE(from 1 March 2019) | HdS Costs +VAT | Total costs + VAT | FIXED COSTS RECOVERABLE | TOTAL COSTS IF SUCCESSFUL | TOTAL COSTS IF UNSUCCESSFUL. |
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | £ | £ |
| 1-300 | 35 (25)* | 130 | 165 (155) | 35 (25) +50 | 80 | 165 (155) |
| 301-500 | 50 (35) | 140 | 190 (175) | 50 (35) +50 | 90 | 190 (175) |
| 501-1,000 | 70 (60) | 160 | 230 (220) | 70 (60) +70 | 90 | 230 (220) |
| 1,001-1,500 | 80 (70) | 180 | 260 (250) | 80 (70) +80 | 100 | 260 (250) |
| 1,500-3,000 | 115 (105) | 200 | 315 (305) | 115 (105) +80 | 120 | 315 (305) |
| 3001-5,000 | 205 (185) | 300 | 505 (485) | 205 (185) +80 | 220 | 505 (485) |
| 5001-10,000 | 455 (410) | 400 | 855 (810) | 455 (410) +100 | 300 | 855 (810) |
| 10,001-100,000 | 5% of value of claim (4.5%) | 700 | 5% (4.5%) of claim +700 | 5% of claim +100 | 600 | 5% (4.5%) of claim +700 |
| 100,001+ | 5% of value of claim (4.5%) | TBA | 5% (4.5%) of claim + HdS costs | 5% (4.5%) of claim + 100 | TBA | 5% (4.5%) of claim + HdS costs |
| 201,000+ | 10,000 | TBA | 10,000 + HdS costs | 10,000 + 100 | TBA | 10,000 + HdS costs |
* Amounts in brackets show the Court Fees if claims are issued in the Money Claim Online (MCOL).
DEFAULT JUDGEMENT
| DEBT (INC INTEREST) | HdS Costs +VAT | FIXED COSTS RECOVERABLE | TOTAL COSTS PAYABLE IF SUCCESSFUL | TOTAL COSTS PAYABLE IF UNSUCCESSFUL |
|---|---|---|---|---|
| £ | £ | £ | £ | £ |
| 25-5,000 | 75 | 22 – 55* | 20 – 53 | 97 – 130 |
| 5,000+ | 95 | 30 – 70* | 25 – 65 | 125 – 165 |
* The fixed costs recoverable will depend on whether judgement is entered in default of Acknowledgement of Service, in default of a Defence, on an Admission or Part Admission.
ENFORCEMENT
| DEBT (INC INTEREST) | ENFORCEMENT FEE(from 1 March 2019) | HdS Costs +VAT | Total costs+ VAT | FIXED COSTS RECOVERABLE | TOTAL COSTS IF SUCCESSFUL | TOTAL COSTS PAYABLE IF UNSUCCESSFUL |
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | £ | £ |
| 25-125 (Bailiff) | 110 (77)* | 100 | 210 (177) | 110 (77)+ 2.25 | 97.75 | 210 (177) |
| 125-600 (Bailiff) | 110 (77) | 100 | 210 (177) | 110 (77)+ 2.25 | 97.75 | 210 (177) |
| 600-5000 (HCEO) | 66 | 195 | 261 | 66 + 51.75 | 143.75 | 261 |
| 5000+ (HCEO) | 66 | 225 | 281 | 66 + 51.75 | 163.25 | 281 |
* Amounts in brackets show the Court Fees if claims are issued in the Money Claim Online (MCOL).
- We will automatically instruct the Enforcement Officer (HCEO) in every case over £600.00.
- The HCEO collect their charges from the debtor directly if there is a successful recovery.
- In the event of the HCEO being unsuccessful there will be an abortive fee payable which is generally £75 plus VAT (£90) in addition to the above charges.
WHAT TO DO NEXT
Complete the online enquiry form or contact us by phone or email