Frequently Asked Questions

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?

The easiest way to instruct us is to go to, register your details and complete one of our online forms. We are also happy to receive instructions in any format, by email, fax or post.

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 – For all commercial debts 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?

You can claim costs on consumer debts only if this is clearly stated in your terms of business. We suggest the following wording:

“Failure to receive full settlement of our invoices in accordance with our payment terms may result in the matter being referred to our debt collection agents, K2 Collections Limited, whose charges will be added to the debt and payable in addition to the original invoice debt”.

Alternatively, when sending out chasing letters or statements we suggest you add the following:

“If we do not receive full payment of the outstanding account balance within seven days we will be referring matter to our debt collection agents, K2 Collections Limited, whose charges will be added to the debt and payable in addition to the current outstanding balance”.

If you are unsure or would like more information, please contact us and we will be pleased to advise, but please remember even if you have no terms in place we can still collect your debt, less our fees.

You advertise ‘Zero Cost’ Debt Recovery. How does this work?

In most cases all costs can be added to the debt. This means that subject to successful recovery you will still receive full payment of the original debt.

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 the debtor does not have the means to pay?

We aim 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, at no additional cost to the client.

What should I do if my debtor has moved address?

No problem – We provide a comprehensive debtor tracing service. We only charge if the trace is successful. Furthermore trace costs will be added to the debt and are fully refundable subject to successful collection of the debt.

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, 0830 – 1800.

Any other questions?

If you have any other questions please ask. Call us on 0333 772 0278 or email [email protected] and we will be pleased to help you.