1st STAGE LETTER FLAT-FEE DEBT COLLECTION SERVICE 

LPL offers a unique Flat Fee Debt Recovery system ideally suited to those clients who operate current sales ledgers and experience slow payment on accounts between 90 - 120 days old. The service consists of three communications, including a Solicitor's Demand. This Debt Collection service advises the customer to remit payments direct to our client, speeding up cash flow and sorting out any problems relating to the account.

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2nd STAGE - DEBT COLLECTION - NO RECOVERY - NO FEE SERVICE

LPL's 2nd Stage/Option 2 Debt Recovery service, which is a follow on to 1st Stage Debt Collection service or is used as a stand alone service, catering for any type of commercial debt and will, based on a No Recovery - No Fee system, be successful using our controlled and direct approach.

Our dedicated team of Account Handlers will establish direct contact and whilst securing payment on your behalf they will ascertain the exact cause of non-payment, ensuring movement towards resolving queries, disputes, cash flows, and, of course, full collection.

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FAST TRACK 

Many of our clients currently using our 1st Stage Debt Collection service may feel that the money owed is critical or that the debtor requires a more urgent form of Debt Collection. LPL has now introduced a further tier to our Debt Collection services, which will allow clients to utilize our Flat Fee system whilst incorporating our more in depth 2nd Stage Debt Collection procedures. All as part of one instruction.

On successful collection, discounted collection fees apply.

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LITIGATION

Most debts are recovered without the necessity of legal action. However, it is occasionally necessary to commence legal proceedings to recover a debt. LPL are specialists in all areas of litigation and in conjunction with our carefully selected panel of solicitors, provide an excellent service of conducting legal proceedings in the County and High Courts.

LPL can offer essential advice on all types of actions including the issuing and presentation of Petitions for Bankruptcy of an individual or the Compulsory Winding Up of a debtor company. You can also rely on our expert litigation service if your debtor resides in Scotland, Northern Ireland or Republic of Ireland.

In addition, we can arrange legal representation in most countries around the world.

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TRACING

Why Discard 'Returned Mail' accounts? Using last known address, together with full individual name, LPL will ascertain a confirmed current residential or trading address using sensitive and thorough investigation to establish the current whereabouts of absconders.

Enquiries are carried out by our highly experienced tracing experts, who will examine relevant databases as well as carrying out in-depth telephone and, subject to the required level of instruction, relevant on-site investigations. This is reported back to you within the set timeframe, providing you with a confirmed current residential or trading address together with possible contact numbers, if available. All enquiries are carried out within current Guidelines, protecting your business and reputation, as well as ensuring the highest standards of professionalism and success.

LPL has several levels of enquiry available:

• Level 1: For a low fee of £35.00+VAT - No Find - No Fee, using last known address together with full individual name LPL will ascertain a confirmed current residential or trading address.

• Level 2: In-depth investigator reports - regionally based private investigators will usually visit the last known address, question neighbours, report on assets, include electronic record searches and full report. The comprehensive report will tell you exactly what the position is and whether further action is going to be cost effective.

• Level 3: Asset enquires, Pre-Sue reports, Due Diligence reports, designed to give you in-depth knowledge of a debtors ability to repay significant debt or give you further information for takeovers or sales projects.

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CREDIT REFERENCING

Business information searches - reports returned in under 15 minutes

Limited Companies and other businesses in the UK, and where applicable, internationally. Available in the UK filed information at Companies House including: Incorporation Details, Directors, Shareholders, Accounts, Public Information: CCJ’s, Decrees (Scotland), CVA’s, Insolvency - Petitions, Debt Searches including LPL Records, Analysis and credit conclusion.

Every precautionary measure available should be taken when offering credit facilities. By utilising Front End expert credit knowledge we can advise you how best to safeguard your credit applications.

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INSOLVENCY ADVICE

LPL offers a specialist service to Insolvency Practitioners for Book Debt Recovery. Our team of highly experienced operators are able to handle the collection of most types of sales ledgers. The realisation of book debt assets of a company in Liquidation, Receivership or in Administration hinges on non-interruption of the collection process. It is therefore essential that experienced and professional people handle the collections so that the maximum results are achieved.

LPL will liaise with factoring or Invoice Discounting companies and debenture holders and provide concise and detailed reports on the progress of each collection.

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WORLDWIDE DEBT COLLECTION

LPL is one of the leading Debt Collection agencies offering international debt recovery services. In conjunction with our network of agents around the world, we are able to provide a fast effective debt collection service at very competitive rates.

LPL offers specialist Debt Collection and Credit Referencing services anywhere in the world, for client companies based in the UK and for client companies based overseas. We welcome companies from outside the UK to contact us in respect of problematic accounts, arising from within the UK and elsewhere.

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INTERNATIONAL CLIENTS

LPL offers overseas and international clients the facility to collect overdue and problem accounts, owed by debtors based in the UK or elsewhere within the European Community.

If you experience late payment or you have outstanding accounts from companies or individuals trading outside the UK, contact LPL and we will advise you on the best course of action.

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TERMS AND CONDITIONS OF TRADE

A standard form of contract containing Terms & Conditions of Trade is possibly the most important single document in business.

It will in the course of time offer you the benefits of:-

• promoting confidence in those dealing with you
• adding more certainty to the contract, giving you greater protection
• assisting in reducing bad debts
• assisting with cash flow
• saving valuable time in negotiating business terms
• removing unwanted discretion from certain employees to negotiate business terms
• saving administration costs
• regularising internal procedures
• enabling you to more readily calculate and allocate risk
• reducing litigation by increasing the likelihood of success
• conveying professionalism to those who do business with you

In conjunction with our legal experts, LPL will produce Terms & Conditions which will safeguard your business for future years to come.

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CREDITORS MEETINGS

LPL will arrange representation at Creditors Meetings relating to debtor companies that have been placed into Liquidation, Receivership, Administration, CVA & IVAs.

This service is usually free of charge to clients and a report is produced on every meeting attended.

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DOCUMENT OUTSOURCING

As our relationships continue to grow, clients can rely on LPL to carry out high-volume services that include outsource operations on ‘own name’ chasing letters, membership subscription, statement and other mail-outs.

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