Catia training course center in England U.K

Debt Collection

licensed under the Consumer Credit to recover debit
1. Debtor / Creditor

Debtors (customers) must be commercial and based in the UK (i.e. debts must be business to business). Creditors (suppliers) can be from anywhere in the world.

2. Suitability

We reserve the right to refuse any debt.

3. Termination

We reserve the right to terminate the collection process, if we feel there are disputes that will not allow us to pursue the case successfully or if it is uneconomical to pursue the case or unlikely to be recovered within a reasonable period, without liability to Quest

4. Conduct

Quest will determine the method of debt collection

All costs will be agreed upfront

5. Cancellation

Should you cancel your instruction before the debt has been collected, and you have not spoken to/or contacted your debtor, there will be a cancellation fee of £50. However, if the debtor has paid you direct, or you come to any arrangement with your debtor without our involvement, the whole fee will be immediately payable to Quest

6. Our Fees

The fees payable, only on successful recovery, are as follows:

7.5% of the outstanding balance where the date of the invoice is up to 360 days (approx.12 months) from the invoice date.

15% of the outstanding balance where the date of the invoice is more than one-year from the invoice date.

There is a minimum fee charged of £50 on all amounts recovered unless the amount is under £150, then the minimum fee is £25.

Our fees are always shown on the debt case request form.

All payments are requested to be paid direct to Quest Connect Limited and will be paid out as soon as the payment clears our bank.

We do this to ensure:

a) the cheque is cashable, and if not we can take immediate debt collection action,

b) the debtor will pay us (the debt collector) quicker than paying you (the creditor) direct,

c) we can act quickly if the debtor does not respond to our collection efforts,

d) it saves you time and money as we deal with the case from start to finish: i.e. you just bank our cheque.

If late payment interest charges are negotiated by us, on your behalf, there will be a 25% charge for this service on all interest collected.

7. The Debt

All debts must have been invoiced to the debtor a minimum of 30 days prior to requesting Quest to collect any debt. A copy invoice must be available at all times, and produced within 48 hours of a request by ourselves. All queries must be disclosed at the time of ordering our services, and by not informing us, you are stating that no query exists between the creditor (you) and the debtor (your customer/client).

Please Note:

Unless we are instructed to charge Late Payment Interest, we will only collect the invoice amount. However, we do encourage the use of the Late Payment of Commercial Debt (Interest) Act (1998).

For more detailed information on late payment click here

8. Liability

Quest will not accept any third party liability due to non-disclosure of all/any contentious or damaging information be that intentional or unintentional. Therefore, Quest reserve the right to seek damages and costs from the creditor (you) where the debtor suffers any loss due to our involvement and the debtor seeks damages.

9. Our Service

We will write to your debtor explaining our relationship to you and making a formal demand for payment,

We will contact your debtor by telephone, twice if necessary,

If payment is not received we will pay for a Solicitors letter to be sent, or, with your agreement, a winding up order (no fee payable by you).

In 85% of debts the above action will result in settlement. Failing payment, we will offer you our best advice. We will advise you of options and costs BUT if this involves solicitor's further work and court fees, we would negotiate stage payments with you if you personally authorize further action to be taken. You can at this stage cancel your debt recovery order without cost to you. If you cancel your order prior to Quest completing the free 'no collect, no fee' stage (and the debtor has not paid you) the full fee is payable (as if the debt was recovered in full). Of course, payment of the debt by the debtor at any time will also result in a full fee charge.

10. Represented Cheques

In the event of a cheque bouncing and being represented then clearing the banking system, there will be a one-off charge, to the creditor of £8.00 for each cheque.

If the cheque does not clear the banking system then there will be no charge.

11. Payout Error

If we collect a debt by way of a cheque from your debtor and we pay you out in error (say, the banking system took 10 extra days to send the cheque back to us as 'unpaid' or 'refer to drawer') you must immediately repay all amounts that we have paid to you upon request. We do not become the principal debtor under any circumstances.

IMPORTANT

If you disagree with any of our terms you must not request our services. You should check our terms on each occasion you use our services as they may alter in some administrative way. Our current rates will always be seen on the debt request form.

All figures exclude VAT.

UK Consumer Credit Act 1974

Data Protection Act 1998