Debt Recovery
Cash flow and the recovery of money owed is vital for all business, as well as for individuals.
The failure to pay bills and invoices when they fall due can threaten the very existence of a business or cause severe financial hardship to an individual. Chasing debts also diverts valuable time and resources away from doing other things that benefit and enhance your business. For these reasons, controlling the recovery of debts is essential for the financial wellbeing of a business or an individual. We are here therefore to help you achieve an organised and structured approach to how your debts are managed.
Why ask us to assist you to recover unpaid sums?
At David Crosby & co we recognise that our clients do not wish to spend their time and resources having to chase payment when they could be working on more profitable matters. As such we operate a straight forward and practical debt recovery service that seeks to recover monies owed quickly and with the minimum of protracted correspondence and cost.
What do we do?
We recover unpaid bills and accounts for individuals and businesses. We do so with an efficient and straight forward approach that minimises cost and time and maximises the amount of money recovered.
A commonsense approach
Our debt recovery service is underpinned by two important beliefs. Firstly that ‘money in the bank’ is what our clients want achieved and secondly, that ‘throwing good money after bad’ is to be avoided. Managing your expectations properly is an essential aspect of the service we provide. We can provide a range of pre debt recovery investigations that will indicate if there is a ‘reasonable’ basis for believing that a debtor has the financial means to settle the debt if the claim succeeds. By understanding our clients, we know that what really matters is money recovered, not unenforceable court orders.
What we are unable to do!
We cannot guarantee to recover each and every debt that we are asked to. Put simply, until we know what the debtor will say, there is a chance that there is a valid reason for non payment. However, what we can guarantee is that where a debt is not recovered, it will not be for any lack of trying on our part.
Our Fee structure
We believe that simplicity and clarity in relation to fees is of paramount importance to our clients. Our fee structure is set our below. We hope that it is clear but please do not hesitate to contact us if you would like to discuss it further.
Debt Type 1
Debt of £5,000 and under and not disputed by Debtor. Payment received without the need for Court proceedings.
£50 plus VAT of £8.75. Total fee to you is £58.75
Debt Type 2
Non payment of debt, Issue of Claim Form at County Court required. Debt subsequently admitted or Judgment in Default obtained.
| Amount of debt | Fixed Legal costs (*) | Court Fee | VAT on costs |
| £0.00-£300.00 | 50.00 | £30.00 | £8.75 |
| £300.01-£500.00 | 50.00 | £50.00 | £8.75 |
| £500.01-£1,000.00 | 70.00 | £80.00 | £12.25 |
| £1,000.01-£5,000.00 | 80.00 | £120.00 | £14.00 |
| £5,000.01-£15,000.00 | 100.00 | £250.00 | £17.50 |
* please note that the fixed legal costs above represent the sum that the Court can order the debtor to pay towards your costs.
Debt Type 3
Where the Debtor disputes the debt from the outset (in full or in part) and indicates an intention to defend any Court proceedings that have been issued, then our Fees are based on an agreed hourly rate. Details of our hourly rates are provided to all clients at the appropriate time and require agreement before any action is taken on your behalf.
In disputed cases we cannot give you certainty as to the level of legal fees that will be incurred as we do not know the basis of any proposed Defence and/or counterclaim. We will however give a realistic estimate and regular updates so that you can make informed decisions at all times.
