Court Summons
This case study shows the sequence of events and costs involved if a debtor does not comply with a Letter of Claim.
After introducing the Pengillys Midas Corporate Debt Recovery service, a Letter of Claim is sent to the debtor. The client is owed £500.00 and so far has failed in reclaiming the bad debt.
Payment is still not received even after the debtor has received the Letter of Claim.
Pengillys Midas Corporate Debt Recovery team issue a Court Summons and obtain a Judgment on your behalf, resulting in payment.
Example amount recovered after Court Summons
| Debt due to you: | £500.00 |
| Add: reclaimed fixed costs: | £50.00 |
| Less: our costs: | £50.00 |
| Less: VAT | £8.75 |
| Net benefit to you: | £491.25 |
Note: the above figures do not take into account interest, which you are entitled to claim.
