Business Forums : Legal Issues for Business

Debt Collection...

By: Chris Thompson [1-July-07 11:27PM]
427 posts

Hi all

Interested to hear what you think the average percentage you will pay of the debt owed when using a collection agency. Some of you may have used them before whilst for others it'll be a total guess.

Let's say the debt you sold on was for Ł20,000 - what percentage would you expect to have to pay of that as the fee for them to collect a debt that otherwise you don't feel you would be able to recoup?

Post your guesses!

Chris

Re : Debt Collection Thomas [20-July-07 11:24AM] 111 posts
Hi Chris No idea - as a total guess I would reckon you would lose something in the region of 15% in collection fees etc when selling on the debt - am I anywhere near? Thomas

Re : Debt Collection Lianne West [28-July-07 1:31PM] 453 posts
Probably around 20% - no idea either! Lianne

Re : Debt Collection Lianne West [1-August-07 10:41PM] 453 posts
Chris... do we get the answer?!

Re : Debt Collection Chris Thompson [5-August-07 8:21PM] 427 posts
Tends to be in the region of 15-20% yes, Lianne, of course you should pass the fees on to the client.