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Kings Ransom

Specialist in Debt Recovery

Here are some of the most frequently asked questions we're asked.

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Frequently Asked Questions

Here are some of the most frequently asked questions we're asked. Please contact us if you want to know anything else about debt recovery, credit control or about how Kings Ransom operate.

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Telephone Now
01275 857 399


Email Us
debbie.urch@kingsransom.biz

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Instruct Us Online

1. What size debt are you prepared to recover?

We will consider recovery of any size debt but if it is 170 or less a minimum fee applies.

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2. What information do I need to give you?

The full name and address of the debtor, the amount owed, copy invoices and statements, credit application forms, copies of correspondence relating to the debt, telephone and mobile numbers, email address and any other information you consider relevant including whether the account is not paid for a reason known to you.

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3. Can debts that have been outstanding for years be recovered?

Yes. You have a maximum of 6 years from the date of the first invoice to recover an unpaid debt.

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4. How long does the process usually take?

The pre-legal process can take up to 21 days although it usually only takes 7-10 days after we get involved for the debtor to make contact and start discussing payment.

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5. Is VAT charged?

No. Kings Ransom do not charge VAT.

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6. How much does Kings Ransom charge?

Each case is individually assessed and the fee agreed before we take it on. Our fees range between 5% and 15% of the debt recovered with a minimum charge of 25 to cover administration costs. For recoveries involving litigation there is an affidavit fee of 27 plus charges for court fees and attendance which vary depending upon where the case will be heard. If no litigation is possible and we are not able to recover your debt, we do not charge you!

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7. Can I reclaim fees or add interest to the outstanding debt?

Yes. All court fees can be reclaimed as these are added to your claim.. Interest is added at the statutory amount of 8% and is often used as a bargaining tool to get a fast recovery! For Business to Business debts you are also allowed to add charges for late payments.

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8. How will you collect the debt?

On the day you instruct Kings Ransom to recover your debt, the first letter will be sent to your debtor. A strict 7 days later a Final Notice will be sent if contact is not received and finally a letter from our Litigation Officer leaving the debtor in no doubt of the consequences for non-payment. We have been specifically and professionally trained to recognise and anticipate most types of bad debt account situations and specialise in negotiating speedy settlement without jeopardising your relationship with your customers.

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9. When do I get what's owed to me, after you've collected it?

All recovered monies, less our fees, are returned to you as quickly and cost-effectively as possible. We usually agree with you at the outset how and when this will happen.

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10. What happens if debtor disputes the amount owed?

We always negotiate on your behalf with the intention of securing a full recovery without having to use litigation. The most important aim is to get the debtor to start talking - even if it is just to dispute the debt! Once they start to talk to us, a quick settlement usually follows.

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11. Who decides whether the debt should go to court?

We do not accept instructions unless, in our experience of debt recovery, we are confident we can recover your debt - even if this means taking the debtor to court as a last resort. So if litigation is not an option you are prepared to consider, we will not be able to help you.

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