Debt Recovery
Related Information
Debt recovery FAQs
Frequently Asked Questions [FAQs] about Debt Recovery
What is an LBA?
A Letter Before Action is a pre-legal letter which informs the debtor that we have been instructed. It states specifically what is outstanding (including interest and late payment penalty, if relevant). It informs the debtor that we are dealing and that contact should be made to ourselves. Invoice numbers of the outstanding invoices are included (if relevant) and if the matter is for dishonoured cheques then notice of dishonour is given pursuant to Section 48 of the Bills of Exchange Act 1882.
What do you charge for an LBA?
See our non-contested fixed debt recovery fees. For UK-based debtors, to send an LBA we charge £7 plus VAT.
Is this refundable if it is not successful?
No. This is a charge to cover the administration of setting up the file, sending the letters and carrying out preliminary checks on the debtor. This cost is only recoverable from the debtor where you have terms that expressly state that you are able to recover your legal fees.
How successful is sending an LBA?
This is an impossible question to answer. It depends upon a magnitude of variables, including the debtor’s current financial position and their cashflow, whether they are used to being sued, whether there are genuine queries or whether they are just burying their heads in the sand.
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- Please call 0845 603 1057
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Testimonials
Furley Page is recommended by The Legal 500 for expertise in advising on Debt Recovery.
The Legal 500 2011 : Debt Recovery
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