Debt Recovery

Did you know that we offer a no collection, no fee debt collection service?

Chasing late paying customers takes a huge amount of time and resource away from businesses. Through our sister division, My Debt Recovery, we can help you take back your time, allowing you to focus on growing your business.

Using a professional debt collection specialist, like My Debt Recovery, is a proven way of collecting outstanding debts. They have a proven track record of recovering debts quickly and efficiently on behalf of their clients. As they operate on a no collection, no fee basis, you can rest assured that they will make every effort to recover your debt.

The specialist team at My Debt Recovery will begin the process by reviewing your debt(s) to assess the likelihood of successful recovery. They always give honest advice so if they don’t think there is a possibility of successful recovery, they will tell you. If they think they can help, they will then move to engage with your debtor.

If your debt is being disputed, don’t worry, My Debt Recovery are part an innovative dispute resolution process called Escalate. This means you may not have to worry about the upfront costs that accompany commercial disputes.

My Debt Recovery in Action

Case Study 1

Interior Design & Shopfitting Company

Debt: £13,000

Challenge: Our client was unable to collect monies owed to them by a contractor for 9 months. Their work was not in dispute; the contractor just wouldn’t pay.

Solution: On our client’s behalf, we obtained a County Court Judgement. We applied further pressure of enforcement/winding up petition.

Result: A payment plan over a short period was agreed and a total of £16,000 (including costs) was collected within 3 months.

Case Study 2

Financial Services Consultancy Firm

Debt: £98,000

Challenge: Monies were due to our client for over 6 months, in respect of consultancy services. There was an internal shareholders dispute within debtor company and this hindered the collection of the debt.

Solution: With broken promises of payment, we filed a Winding Up Petition under a conditional fee agreement.

Result: Following negotiations, a payment of £92,000 was received, just 24 hours before the Petition was due to be advertised. Had the company been placed into liquidation, it is unlikely that a sum like this would have been recovered.

Case Study 3

Marketing Agency

Debt: £60,000

Challenge: Our client was unable to collect monies owed to them for 8 months. The debt related to a marketing company which incurred numerous third party costs.

Solution: We managed to engage the debtor in meaningful dialogue, which highlighted that cash flow issues prevented the settlement of the debt. Instigating court or insolvency proceedings were unlikely to see our client recover their monies. The debtor agreed to enter into an instalment arrangement, with an initial payment of £10,000 and the balance to be collected at £,1000 per week over 50 weeks.

Result: Full debt of £60,000 collected.

Visit My Debt Recovery

Do you need help with a debt owed to you?