Our fixed price policy
Our fixed price legal service policy is aimed at clients who have internal debt collection processes and have made the commercial decision to sue. We only recommend legal action where we believe that it will have a strong chance of resulting in a successful recovery.
How we are different
The difference between Principal Lawyers and your traditional debt recovery service is that we provide a comprehensive legal service as well as your standard debt recovery service. We guarantee that every legal action is firstly vetted by a qualified solicitor who undertakes the overall responsibility of the matter. We do not outsource matters and our debt recovery and litigation services encompass all areas of debt collection. For instance, we will not hesitate to phone your debtor or draft a letter of demand and where necessary we will proceed to litigate and have your matter dealt with in Court.
For undefended claims we guarantee to take your matter right through to the judgment stage for one all inclusive cost.
So, in addition to providing a quality debt collection service we have the advantage of having a qualified solicitor look after your matter.
Will I need to go to court?
Over 95% of our debt recovery matters result in either a default judgment or a settlement and in these circumstances there is no hearing and no need for evidence to be given at Court.
For our clients who provide volume matters, discounts apply.
What is involved?
Principal Lawyers will draft a statement of claim and all supporting documents necessary to enable default judgment to be entered in your favour. Prior to the issuing of any statement of claim, we will write to the debtor and furthermore we will send a letter after service of the statement of claim in an attempt to settle the matter without further expense. If the matter cannot be settled, we will pursue the matter until a judgment is entered in your favour.
What happens if the debtor does not pay on the judgement?
Once we have a judgment entered in your name by the Court and a debtor refuses to pay, it is then necessary to take separate enforcement procedures.
Principal Lawyers will discuss these enforcement options with you if and when the need arises. If in the event those enforcement proceedings are necessary, our lawyers will endeavor to tailor the best option to suit your individual circumstance.
In a nutshell, we offer the following enforcement procedures:
- Bankruptcy Proceedings (for Individuals)
- Statutory Demands and subsequent Company Wind Up
- Examination orders and summonses
- Writs for levy of property
- Garnishee of earnings and/ or bank accounts
As is our policy, we offer a fixed rate for each enforcement procedure. If you would like further information on the above please contact Principal Lawyers to request our Fixed Price Enforcement Procedure Brochure.
What happens if the debtor defends the action?
Legal proceedings for recovery of debts are carried out under a procedure which allows judgment to be obtained by default. In these circumstances there is no court hearing, no requirement to give evidence and no additional cost. However, if the debtor defends the action and a settlement cannot be negotiated, the matter will proceed to a court hearing. Our fixed cost legal service does not extend to defended matters. However, our lawyers will contact you if a defence is filed to discuss your options, which may be to either withdraw your file or have Principal Lawyers proceed with your claim.
If a defence is lodged, it does not mean that it is a valid defence to a claim. However it will mean that a default judgment cannot be entered and will involve in further legal costs. In saying that, less than 5% of legal matters initiated by us result in a defence being lodged
Allow us to help you with debt recovery
We understand the commercial reality behind each and every one of your debts and noting the financial hardships brought about by the Global Financial Crisis, we aim to conduct our matters in a timely and cost efficient manner.
This is not an idle statement and we stand by what we say. To fulfil this promise Principal Lawyers has established the following protocols:
- A maximum two (2) business day turnaround from your initial instructions and the preparation of letters of demand and any statement of claim.
- Return calls on the same day.
For further information or to speak to a solicitor contact us.