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Help clients recover debt with a no-risk solution. You refer and we'll handle the complexity, legals and workflow.
Simple referral - fill out a form with case and client details and you're done.
The case will be evaluated and only accepted if deemed to have at least 60% chance of recovery
Once accepted, we will work directly with your client to progress the case
The first stage involves acquiring all the signed agreements and documentation.
The second stage we look for a solution without polarising the parties and incurring significant, unnecessary cost.
The third stage includes traditional legal processes. The goal remains to expedite settlement.
If there is a successful resolution, the fee is fixed at 30% of the damages recovered.
If there is a no recovery, there will be no fees or costs for your client.
All costs associated with the recovery (court
fees, expert fees and counsel fees) are covered and adverse cost protection is also provided. If there is no recovery, your client does not pay anything and is not liable for any costs from the other side.
This process reduces the duration of each case by 50% against the traditional approach. The main priority is a quick resolution but, if needed, the case can be taken all the way to the High Court - at no cost to your client.
Our key partnership with SRA-regulated Escalate means direct access to a dedicated team of top professionals - including corporate recovery specialists, litigation lawyers and sectors specialists.
While debt recovery can be a complicated process with several stakeholders, Recovery creates a centralised service. One referral grants access to a complete offering providing clients with an alternative to writing off debt.
Web developer recovers debt from a client after they refused to pay for an SEO project.
We have partnered up with SRA-regulated Escalate to offer a debt recovery and dispute resolution service on our platform. This case study, created by Escalate, shares a web developer's experience of recovering owed debt.
Value of Dispute: £30,000
A website developer had delivered a search engine optimisation project to a client that was refusing to pay for the work that had already been carried out.
The nature of SEO work is one of long-term reward rather than short term gain. This had been highlighted to the client at the start. However, the client asserted that no benefit had been gained from the work done. Many reasons were provided for not paying, but none seemed genuine and it was felt that the company was simply trying to avoid paying.
When Escalate took on the case, they were also turned down after first contact. In a second attempt to recover the debt, they drafted all of the court papers and gave the defendant one last chance to pay. In response, the defendant offered payment of 80%.
The defendant then asked to pay in instalments over two years. Escalate refused, and ordered that either full payment or the offered 80% balance needed to be paid within seven days or they would issue court proceedings. Full payment was made shortly thereafter.
If your clients need support recovering a debt or if you want to know more about adding Recovery to your firm's service offerings, just book in a call at a time that suits you.
Builder bought defective flooring from a well-known supplier of cementitious materials. The case was taken to court and costs were recovered.
We have partnered up with SRA-regulated Escalate to offer a debt recovery and dispute resolution service on our platform. This case study, created by Escalate, shares a flooring company's experience of recovering owed debt.
Value of dispute: £3 million
A flooring company purchased product from a well-known supplier of cement. Unfortunately, the product that was purchased was defective, which resulted in the customer's floors failing.
The flooring company was therefore faced with client claims and wanted to recover the value of those claims from the supplier. But, they did not have the resources to pursue a case against a large multinational.
After a year of failed negotiations, the company engaged Escalate in the process.
Escalate immediately moved to issue and serve proceedings. As the cement supplier attempted to delay the proceedings, Escalate made it known that they were contracted on a non-win-no-fee basis and that they would take the case all the way to the High Court, if necessary.
This change in dynamic between the two parties resulted in the successful case, after going to court in early 2019. The costs of the claimant were fully covered and a settlement figure agreed.
If your clients need support recovering a debt or if you want to know more about adding Recovery to your firm's service offerings, just book in a call at a time that suits you.
We launched Recovery three months ago into an unprecedented market. We have helped many of our accountants recover monies for their businesses and their clients businesses and we want to start sharing these lessons with you.
In the Recovery series, we will use current and past cases to highlight situations that could have been avoided with earlier action and hindsight. Through these learnings, we want to help you build a recovery service for your clients and get them the capital that they are owed and that is, so needed, for their business.
The first case involved a construction subcontractor, contractor and a large multinational material supplier.
Our client was owed a legitimate sum of money for sub-contract works undertaken on behalf of their debtor (main contractor), who was withholding payment due to non-payment from the building owners. Our client agreed to wait for a period of time to allow the main contractor the opportunity to resolve issues with the owners however, during that period fell into financial difficulty with their supplier of building materials.
The client had asked for leniency due to the circumstances that had transpired beyond their control however, the building materials company was unrelenting in their pursuit of the outstanding balance. A drastic but legal action resulted in a Statutory Demand being filed, swiftly followed by a Winding-up Petition.
All of the client’s money was tied up in this project, so they couldn’t fund a legal defence that may well have bought them some much needed time. The client’s business affairs are now being handled by the Official Receiver – effectively closing the client’s business and attempting to recover as much money as possible for creditors before proceeding into Dissolution proceedings.
As the Official Receiver was already involved we could not help, legal proceedings were already underway. However, we are still trying to help our client and have suggested that they negotiate with the Official Receiver to purchase the rights of this debt themselves for a nominal sum of money, which would enable them to progress this matter further. We also suggested that they speak to them about working hand in hand with the Official Receiver to try and maximise a recovery however this is unlikely at this stage.
If the case had been handed over before the Winding-up Petition, we could possibly have helped recover the money and pay all amounts due.
The key takeaway here is to check your client base for companies over extending costs on projects without payment, not progressing swiftly enough with action on recovery as they may face the sharp end of the stick from those you owe money too who won’t extend the same goodwill.
If your clients need support recovering a debt or if you want to know more about adding Recovery to your firm's service offerings, just book in a call at a time that suits you.
The first in a series of case studies with lessons to learn about debt recovery
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