Fees

Debt Recovery

 

We aim to make our collection process simple and cost effective. All our debt recovery fees are on a ‘No Collection – No Fee’ basis.

 

The success fee is based on the value of the debt as shown in the table below:-

Debt Value

Success-based fee (plus VAT)

Up to £299
15%
£300 to £499
14%
£500 to £999
13%
£1,000 to £1,499
12%
£1,500 to £2,999
11%
£3,000 to £4,999
10%
£5,000 to £9,999
9%
£10,000 to £199,999
8%
£200,000+
7%

Pre Litigation Debt Recovery

 

The Pre-Litigation service includes:-

 

  • Initial administrative costs
  • Commercial credit report check
  • Tracing debtor (additional fee)
  • Series of phone calls, SMS and emails
  • Series of letters including a letter before action (LBA)
  • Advising you of responses received.

 

Wherever possible, for commercial cases we will claim interest on the debt and late payment compensation on your behalf.  Pursuant to the Late Payment of Commercial Debts (Interest) Act 1998, we will add a fixed amount proportionate to the debt as per the table below, along with statutory interest that has accrued to date, at the rate of 8% above the Bank of England base rate per annum.

Debt Value

Amount

Up to £999
£40
£1,000 to £9,999
£70
£10,000+
£100

For multiple invoice recovery and outsourced credit control, we have flexible charging structures to reflect each client’s specific needs. Please contact us on 0333 344 8230 to discuss your requirements in more detail and obtain a quote.

 

*Unfortunately at this time, under this service we cannot collect debt arising from Credit Agreement, Consumer Hire Agreements or Regulated Peer-to-Peer Loans.

 

Debtor Tracing

 

We provide in-house debtor tracing services as well as partner with leading UK tracing agents, to assist at any stage of the order-to-collections process and provide our clients with detailed and factual reports.

 

Our debtor tracing service is provided on a no trace – no fee basis with a successful trace costing £40.00 + VAT

Our professional debt recovery team confidently provides bespoke solutions for our clients, no matter how big or small...

 

Call us today on 0333 344 8230

Lackfords provides a proactive and innovative debt recovery service, which is designed to deliver a first class client experience. With over 15 years’ extensive experience and success in the debt recovery industry, you can trust Lackfords to achieve results.  Whether you have individual or multiple invoices you are concerned about or looking for a longer term partnership, our expertise will allow you to focus on running your business while we act quickly to minimise the impact on your cash flow.

15 years of successful debt recovery and credit management

Our professional debt recovery team confidently provides bespoke solutions for our clients, no matter how big or small. That’s just one reason why we’re regarded as one of the top debt collection and credit management companies in the UK.

 

Call us today on 01803 320959

Need assistance collecting a UK based debt? Get in touch…

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