Low Cost / Free

Our collections fees are low, and we may even be able to collect your debt free...

"I am extremely happy that this collection was successful as I would never have seen a penny if you hadn’t sorted it out for me. I will definitely use your services again and have already recommended you to another company."
Tom Blake, Coventry PAT Testing Ltd

What Information do you need to recover my debt?

All we require is the debtor’s name, address, telephone number, the amount owed, the date payment became due and any other information which you think may be of assistance. If we require any further information we will contact you.

How do I instruct you to collect a debt?

Most of our clients prefer to complete an Account for Collection form. However we are happy to receive instructions in any format, by post, fax, email or telephone.

How much will it cost?

Details of our fees are listed in our published price list.

What is the difference between a ‘Commercial’ and ‘Consumer’ debt?

If the debt is owed by a business, either a sole trader, partnership, limited company or organisation, then the debt is classed as ‘Commercial’. Debts owed by one or more individuals, not connected with a business activity, would be classed as ‘Consumer’.

My debt is ‘Commercial’. Can I add your costs and interest to the debt?

Under current late payment legislation debt recovery costs can be added to the debt and recovered from the debtor. You are also entitled to claim statutory interest at a rate of 8% over Bank of England base rate.

Do I have to do anything to claim costs and interest from debtor?

No – We will automatically do the necessary calculations and make a claim for costs and interest on your behalf unless you ask us not to.

My debt is ‘Consumer’. Can I add your costs or interest to the debt?

The short answer is no – unless you have specific written terms and conditions which enable you to claim additional costs/interest. If you are unsure or would like more information, please call us and we will be pleased to advise you.

You advertise ‘Free/low Fee’ Debt Recovery. How does this work?

We keep our fees low, so our fees are very competitive for all types of debt collection. In addition, for all commercial debts and some consumer debts, collection costs can be added to the debt, and recovered from the debtor in full. The collection of costs and interest, if successful, can be offset against our fees, which means the net cost to you is much lower.

Do I have to pay anything in advance?

No – We work on a strict ‘no collection – no fee’ basis, so we don’t ask for any payment in advance.

What happens if you can’t recover the debt?

We are successful in recovering the vast majority of debts we are asked to collect, but if we can’t collect your debt for any reason, our ‘no collection – no fee’ guarantee means we don’t charge you for our efforts in trying. All we ask is that you do not withdraw the case before all collection activity has been concluded.

What happens if you only collect part of the debt?

If we are only successful in collecting part of the debt you just pay commission based on the actual amount collected.

What happens if the debtor does not have the means to pay?

We will always endeavour to collect the full value of the debt in one go. However if the debtor simply does not have the financial means to do this, we will negotiate settlement of the debt by instalments and will undertake to collect each instalment when due.

What should I do if my debtor has moved address?

No problem – We have a separate investigation department and can trace your debtor to his/her new address.

How will you keep me informed and will I have a named contact?

You will have your own designated case manager who will keep you regularly updated by email. You can also contact your case manager or any member of the client support team, by email or phone, Monday – Friday, 08.30 – 18.00.

Any other questions?

If you have any other questions please ask. Call us on 0333 772 0278 or email info@k2collections.co.uk and we will be pleased to help you.

Useful information

If you have any doubts abbout using a debt collection service or you want to know more about what happens, we have compiled the following pages for you.

When to use a Debt Collector Debt Collection Explained Late Payment Legislation Explained

Why choose K2

  • 30 years experience, high success rates
  • Full nationwide UK debt collection service
  • All debts considered, large or small
  • Commercial and consumer debt recovery
  • Debtor tracing service
  • Proactive - more than just a phone call
  • Fast and efficient - we know what to do
  • Low fee / no fee collections
  • We keep you informed of progress
  • We save you time and hassle

Our debt collection service is fast and efficient.
If you are owed money, we can get it for you.

Call 0333 772 0278 or email info@k2collections.co.uk