Debt recovery | Services | What we do | B P Collins Solicitors
Services | Debt recovery

Late payments

Chasing up late payments is a regular chore for most businesses.

An effective approach to debt collection helps boost cashflow and reduce the risk of overdue payments turning into bad debts. B P Collins has been providing professional debt collection services since 1966, with experience of all business sectors and industries.

We provide a comprehensive commercial debt collection service to assist you in recovering your debts and our charges are very clear. To ensure our service remains cost effective, your business must have a minimum of five outstanding debts before our recovery process can begin.

Debt paid within 7 days:

If we recover any of your debt we will only charge you £5 (plus VAT) plus the amount of interest, late payment fee and costs we request from the debtor (deducted from the debt if you decide not to insist on payment of those sums from the debtor). You keep the balance.

Debt paid after 7 days (and before any court proceedings):

If we recover any of your debt we will charge you a percentage of the debt, according to our commercial debt collection service. We will also charge you the amount of interest, late payment fee and costs we request from the debtor (deducted from the debt if you decide not to insist on payment of those sums from the debtor). You keep the balance.

If none of your debt is paid:

We will only charge you £5 (plus VAT).

Debtors often take notice when a law firm gets involved - by using an established firm such as ours, we can ensure your debt is taken seriously. And, if your debtor still does not pay, we are permitted to issue court proceedings on your behalf - debt collection companies are not able to do so.

Our debt collection service can work hand-in-hand with your existing credit control procedures, minimising the number of late-payers of invoices, identifying bad debtors at an early stage and, more importantly, getting paid for the service or work you have provided.

How is your debt recovered?

Depending on the circumstances, we will try to secure payment from the debtor by sending them a letter of demand, threatening them with court action if payment is not made, followed up by telephone contact and further letter(s) as appropriate. Additional charges apply if court proceedings are taken.

Download our schedule of costs and further information

Stay in touch

Phone: +44 (0) 1753 889995

Email: enquiries@bpcollins.co.uk

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