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Fixed-cost Debt Recovery

Find out how we can help

Fixed-cost debt recovery - from only £50 plus VAT

Whether your business has large volumes of invoices to recover, or the occasional debt, our fixed-fee undisputed debt service gives your business a clear, fast and cost-effective solution to recover the money you are owed.

We don't want you to throw good money after bad.

You to decide from the start exactly how much you wish to invest in recovering a bad debt and how far you are willing to take legal proceedings. There is no surprise bill for you to pay at the end and often, your debtor will make a contribution towards the cost of recovering what you are owed.

49% of businesses write off bad debt each year

Is the debt worth pursuing?

There is no point in pursuing a debtor for money you are owed if they are unable to pay. You can easily check their status through Companies House searches and bankruptcy checks.

43% of businesses have customers who are more than 90 days late paying their debts

When should you instruct us?

If the debtor is having trouble paying you - it is likely that they are experiencing financial difficulties and owe money to other creditors too. This which makes it essential you take action before it is too late.

Is court the best option?

Going to court has its place but is not always the best way to ensure debt is recovered. We use to the most effective and speediest pre-court methods to ensure recovery of the money you are owed.

Claiming Compensation from the debtor

Under the Late Payment of Commercial Debts (Interest) Act 1998 you are entitled to recover compensation from the debtor, due to their late payment. This compensation is in addition to their repayment of the amount owed and any interest.

If we are successful in recovering compensation, it will go towards covering the cost of instructing us to recover the debt on your behalf. We will always seek to recover compensation from the debtor: however, this can only be recovered where the debtor is a business.

The amount you are entitled to recover is dependent on the amount owed and the number of outstanding debts.

Download full details here

Our Fees

Stage 1

Solicitor's letters to your debtor threatening County Court or insolvency proceedings from only £50 + VAT

Stage 2

Issuing a County Court claim or statutory demand against your debtor from only £100 + VAT

Stage 3

Taking enforcement from only £75 + VAT

Download full details here

Our fixed-fee debt recovery service for undisputed debts includes:

  • No hidden charges - just a single fixed-fee
  • No commission payable on amounts successfully recovered
  • Advice on claiming compensation from the debtor
  • Advice from your lawyer at each stage of the debt recovery process

The benefits to your business:

  • Reduce the amount of bad debt your business writes-off each year
  • Improve cash flow
  • Discourage late payment by taking a consistent approach to recovering debts
  • Reduce the burden on your finance and administrative staff by outsourcing the process

WHY CHOOSE SPENCERS SOLICITORS?

Our Client Quality Rating
Spencers Employment Law Solicitors Client Quality Rating
4.2 out of 5 from
What Next?
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