How much collection agencies charge will vary from agency to agency, different types of debt collection agencies have different fees and rules. At Forbes Collect, we work on a 'No Recovery, No Fee' basis.
This means that you will only pay a fee if we succeed in recovering the debt. We have developed a cost-effective system that keeps our fees transparent from the outset. Our fee structure leads us to conclude your debt recovery as quickly and efficiently as possible, with a focus on pre-litigation action, whenever possible.
To help maximise your return, we add statutory late payment interest and, in the case of business debt, compensation. The statutory late payment interest is charged at 8% above the Bank of England base rate for business debt, and at a flat 8% for individuals.
Compensation for business debt is calculated in the following way:
The compensation and late payment interest goes a long way to help cover the cost of collecting the debt.
Another way we help you to save money is to issue County Court claims online through the County Court Business Centre. This means court fees are up to 18% less that the more traditional method of issuing County Court claims.
If you are pursuing debt from a company in Scotland or Northern Ireland, this is considered out of jurisdiction and thus a different fee structure applies. Out of jurisdiction claims that are resolved during the pre-litigation phase will be charged on a 'No Recovery, No Fee basis'. However, if a County Court Claim needs to be made, taking enforcement will be charged according to our fixed fees, as the process is more complicated.
If you want more information about our fees, contact Forbes Collect today on 0800 689 4176 and firstname.lastname@example.org.
01 Nov 2018
Back in August the shocking news that Mike Ashley's Sports Direct agreed to buy the House of Fraser department…
We have found Forbes to be efficient, informative and effective in all our debt collection cases
KM Accountants have worked with Forbes for just over 12 Months. During this time we have gained a great working relationship and I feel Forbes understand our business needs
On behalf of everyone here at EvolveU we just wanted to say a massive thanks for all of your help and assistance with the Traffic Engineering and Management Services Limited
We are delighted with the Professional manner in which Forbes Solicitors deal with all our legal requirements and would not hesitate to recommend this Company.
Trident Fire & Security Group Ltd
We asked Forbes Solicitors to help when a client would not pay his bill. I sent an email to Katy, received a reply straight away, we were advised of the action that would be taken
Abby Welding Ltd
I contacted Alison at Forbes Solicitors regarding an outstanding debt which we were having problems getting paid for I would just like to say what a very quick and professional service she provided
Thermal Hire Ltd
The Woodscape Group have been relying on Forbes Solicitors for over thirty years and the work carried out by Alison Nelson and the team over the last few years has only strengthened
DPFOC relies on Forbes for all legal advice. We find the service to be professional, well-informed and affordable.
Eddie O' Driscoll
I was owed money for plumbing services provided and despite several conversations with the debtor to request payment, he was dishonestly claiming that he had paid despite their being no evidence
Back on Tap Plumbing
Alison and her team have worked with us on a number of occasions now - so much so that we see them as an extension of our business!
Higher Access Limited
Forbes have helped me immensely with bad debt recovery over the past few years.
Able 2 Ltd
I have used Alison Nelson for a number of years for debt collection. I would strongly recommend her for similar work.
Consultant Plastic Surgeon
The professional and speedy way that Forbes dealt with this resulted in a very quick settlement of the matter. I can assure you that I will recommend Forbes for matters such as this in the future.
D&M Creative Limited
We have used Alison's services on a number of occasions and have always received the desired results!