Debt Recovery

• What is Debt Recovery?
  Debt recovery is one of the many services offered to businesses by Curwens. "Prompt Pay" is a specialist unit established by the firm, devoted entirely to collecting debts in a prompt and cost effective way. As a law firm we are able to offer you far more than the services of a debt collection agency, at no greater cost. We can:
  
  Advise on how to avoid bad debts in the first place, by drafting your terms and conditions of trading.
  Advise on your chances of recovering your debt. If we think you are wasting your time and money we will tell you so.
  Involve our highly experienced litigation team if the debtor files a defence or fails to honour a judgement.   
  
  Personal and flexible
  By combining the personal touch of an experienced team with modern communication facilities, we can tailor the Prompt Pay service to the needs of a small business with a single debt or a large company with multiple debtors.
  
  Why do you need Prompt Pay?
  Have you had enough of the EXCUSES?
• "There's no one in to sign a cheque today."
• "The cheque's in the post."
• "There's a query on that invoice".

Then you need Prompt Pay.

Have you ever asked yourself any of the following questions?

• "Can I charge interest to customers who are slow payers?"
• "One of our customers has gone out of business but still has our goods. Can we get them back?
• "Is it worth attending a creditor's meeting of one of our customers who has just gone out of business?"

Then you need Prompt Pay

How does prompt pay work?

The Prompt Pay service has been specially designed to recover your money promptly and cost effectively. Give us details of your debts and we will take care of the rest. We will:

• Issue a solicitor's seven day letter demanding payment in full.
• Start legal proceedings to recover the money if the debtor does not pay within this time.
• Follow through proceedings to judgement and advise you on the options for enforcement.
• If the debtor fails to honour the judgement or files a defence we will pass your case to our litigation team.
• Report to you regularly. We will tell you how much we have recovered and how much we have had to pay out on your behalf.

How much will it cost?

As our communications carry a sense of urgency and authority most debts are recovered by sending a solicitor's letter. If we fail to recover any money, you pay only the £40 plus VAT., unless you instruct us to issue proceedings.

1. On instructing our Prompt Pay Unit
£40 plus VAT. We issue a 7 day demand the day we are instructed.

2. If Court action is necessary you pay:
(a) the Court fee (e.g. £120 on debts between £1,000 and £5000) and
(b) the Prompt Pay fee for issue of proceedings £120.00 plus VAT and a further £75 plus VAT on entry of Judgement.
Fixed costs, fees or interest recovered are paid to you and in many cases will equal or exceed the fee paid to Curwens.

3. Enforcing a Judgement
If it becomes necessary to enforce a Judgement against your debtor we will explain the various options and the cost and benefits of each.

4. If the case becomes defended it will be passed to our Litigation Department for further advice on costs and procedures.