Master Club has been designed to ensure bad debts do not become an added business expense. By addressing bad debt concerns before they happen you can effectively manage your credit and debt collection activities.
In one year Master Club saved a business £6,031 in legal fees on debt recovery, enforcement of CCJs and dispute resolution (savings on CPR fixed costs and solicitors hourly rates).
Master Club gives you access to: -
Call us on 0333 456 0374 to find out how being a Master Club member can help you collect your outstanding debts.
Master Club membership reduces the cost of litigation and based on a desktop survey solicitors cannot compete with the benefits membership offers:
|Legal action or other||Solicitor||Master Club|
|Letter of claim||£7.50 + VAT||No collection, no fee|
|Pre-legal correspondence and telephone calls||£165 + VAT per hour||No collection, no fee|
|Credit report||£120 +VAT||Nil|
|Preparation of County Court Claims £200+||£80 to £730||Nil|
|Enter a CCJ and issue of warrant of control||£22 - £30||Nil|
|Application as follows:|
|For order for information||£115||Nil|
|Attachment of earnings||£95||Nil|
|Third party debt order||£750||Nil|
|Issue a warrant of possession (property/land)||£505||Nil|
|Defended actions||£190 + VAT per hour||See note 1 below|
|Legal Advice||£190 + VAT per hour||Nil|
|Instructing councel and agents||£165 + VAT per hour||Nil|
Note 1 - Defended Actions
To avoid disproportionate costs for claims up to £10,000, costs are fixed.
For claims at £10,000 or above top city solicitors at discounted rate of £180 plus VAT an hour.
Master Club will make even greater savings for businesses that issue more than two claims a year because legal cover is unlimited.
Master Club costs less than half of what a business would usually be charged by a solicitor for one complex defended action worth £3,000.
TLC is an electrical wholesaler and distributor with 23 branches nationwide and an annual turnover of £43 million and has been a Master Club member for four years. In that time we collected over £64,000 worth of bad debt, including old debts that had formerly been placed with a well-known firm of solicitors in Liverpool which could not collect. TLC utilise full range of debt collection services from no collection no fee debt collection to the issue of county court claims and enforcement of CCJs.
A debtor owing £1,649 tried to avoid paying because he said his father who owned the business was dead and the business had nothing to do with him. Master Collections query management service discovered that the mother inherited the business and then passed it onto her son. As a result we were able to challenge the dispute and pin liability on the son with the result of full recovery of the outstanding balance.
Based on 24 county court claims issued and 22 judgments enforced, including legal advice TLC achieved a cost saving of approximately £6,031.
What our client said
We have used Master Collections since 2008 and they have become an integral part of our debt collection process. In particular the experience of Carlo Pegna has been invaluable when dealing with more challenging debtors with whom he has needed to negotiate a settlement. We are pleased with the service that they offer and the results that they have obtained.
Lynda Stevens, Company Accountant, TLC (Southern) Ltd
Please get in touch if you want to get more information about any of our services, or to discuss an outstanding debt and how we might be able to collect it for you. Please call us or complete the form below and we'll get back to you.