debt collection company UK Pounds Debt Collection Company
Company Debt Collection • Certificated Bailiffs • Debtor Tracing • Enforcement

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Pounds Financial Debt Recovery y Terms & Conditions

These terms and conditions apply to the collection of outstanding debts by Pounds Financial Debt Recovery y for the client.
In these terms and conditions, Pounds means Pounds Digital LTD T/A Pounds debt Recovery.
"Client" means any individual, Company, Partnership or Trader using the service provided by Pounds

Use of information and Confidentiality
All information given by the Client to Pounds will be treated as strictly private and confidential and will be subject to the regulations as outlined under the Data Protection Act.
All information provided by Pounds under these terms and conditions shall be treated in confidence by the client and shall not other than by County Court Order be communicated, copied or otherwise divulged to any person or party whatsoever.

Reports or information provided to the Client may, in whole or part represent expressions of advice or opinion based on data supplied by third parties, the accuracy of which Pounds will be unable to verify in every case. Pounds will accept no liability for any errors therein or omissions there from.
Pounds will not be liable for any loss or damage whatsoever as a result of the Client's use of any report or information supplied by Pounds.

Pounds shall be indemnified by the Client for any actions taken by itself, the debtor or its agents, if such actions prejudice Pounds's ability to collect. If such prejudice action occurs, Pounds reserves the right to charge such commission that would be due as if the debt had been collected in full.

Debt Collection
Pounds are authorised by and on behalf of the Client to collect payments and issue receipts in relation to the Clients debtor and to deduct and retain fees owing to Pounds for services rendered. Payment of the recovered balance (less the retained fee) will be issued to the Client 10 days after and being banked, allowing ample time for the payment to clear.

Or Pounds may choose to have the debtor pay the client direct. An invoice will be issued by Pounds to the client for the agreed fee. Payment shall be made to Pounds within 14 days of the invoice date. The client must inform Pounds within 48 hours on receipt of any funds from the debtor.

Accounts settled and any monies received via any source after intervention by Pounds are subject to commission fees at the prevailing rate. These fees must be settled within 14 days from the date of payment receipt.

Once a case is passed to Pounds and a part payment results in a balance outstanding, the case will remain with Pounds until the full amount is cleared. If you wish Pounds to cease debt collection services against a debtor you must give us 7 days written notice of your intentions.  The client must recognise that whilst every effort is made by Pounds to recover the outstanding balance, no guarantee is either expressed or implied that such money will be recovered.

The client must notify Pounds immediately if there is any change in the amount due in respect of any account passed to Pounds for collection.

If a case is recommended by Pounds for litigation, no action will take place without the Clients approval, and only after all legal tariffs have been discussed and agreed upon by both Pounds and the Client. It is the Clients responsibility to advise Pounds where any payment is received directly from the debtor after legal action has been instigated. Failure to do so may make it difficult for the solicitor to recover any advance court costs that may have been made. Pounds will not accept liability for any unnecessary costs, which might result.

It is accepted that the Client will be notified in advance of any additional costs resulting from legal action, or fees the Client is likely to incur whilst Pounds carries out the Clients instructions.
The time Pounds takes to perform any obligation under this contract shall not be the essence of the contract.
Where agreed in advance, Pounds will accept settlement of the debt by instalments. The agreed upon fee will be taken from each instalment collected (i.e. 4% of each part payment).

1 Pounds shall agree with the client prior to any action taking place a commission for full or part recovery of the debt. The commission charge will be levied on the amount collected.

2. The debt registration charge (currently £29.95 for tier 1 debts and  £100 for tier 2 debts) is not returnable in the event that no debt is collected from the debtor. It is however deducted from any debt recovery fee that we may charge in the event of a full or partial collection.

3. The client is responsible for all court fees and legal fees incurred in the recovery of the debt. However these fees will be detailed by Pounds to the client prior to any fees being incurred.

4. Should a charging order or attachment of earnings be successfully placed over the debtors property Pounds's agreed recovery fee shall be payable immediately.

5. A debt registration charge will be levied before Pounds commence recovery. This fee covers our initial costs and disbursements and is non refundable. The debt registration charge will be deducted from any success fee.

Law of Contract

This contract shall be governed, construed and enforced in accordance with English Law,
which shall be the proper law of this agreement. Both parties hereby submit to the non-exclusive jurisdiction of the English Courts.