Legal Notice

Name of company

Money Collectors Limited

Registered Office

61 Bridge Street, Kington, Herefordshire HR5 3DJ

Contact details


01544 294224

Company Registration Number





     MONEY COLLECTORS                              LIMITED

Terms and Conditions that apply on instructing Money Collectors Limited to attempt recovery of debts 
1. Hereafter the agency, Money Collectors Limited will be known as MCL, the instructing entity/person or their representative utilising any of the services will be known as the client. 
2. This is a binding contract between MCL and the client and the Laws of the United Kingdom shall apply.
 3. All Terms shall apply from the time this Client Agreement Form is signed by the client. 
4. All debts passed for collection will be subject to the commission rate(s) agreed in advance by written instruction. 
5. Whilst every effort is made by MCL to recover outstanding debts, no guarantee of recovery is either made or implied. 
6. MCL shall be indemnified by the client for any actions that may prejudice MCL’s ability to collect, taken by itself, the client, the debtor or its agents, due to but not inclusively, the supply of inaccurate or incomplete debt information. If such prejudiced action occurs, in addition to the client indemnifying MCL fully for any ramifications, MCL reserves the right to charge such commissions that would be due as if the debt(s) had been collected in full. 
7. Once a debt has been passed to MCL, all monies recovered by the client in relation to the debt from whatever source are subject to commission at the stated rate(s). 
8. If the client ceases to pay its debts in the ordinary course of business, or cannot pay its debts as and when they become due, or being a limited company, is subject to a winding up petition or order, liquidation or receivership, or being a non limited concern, is subject to bankruptcy procedures, MCL, without prejudice to other remedies, shall have the right to (i) not proceed with the contract or any other work for the client and is entitled to charge for the work already carried out (whether completed or not) and such charge(s) are an immediate debt due, (ii) contra from monies held in respect of all unpaid debts due from the client. 
9. The time for MCL to perform any obligation under this contract shall not be the essence of the contract. 
10. Once a debt has been passed to MCL for collection, if it is withdrawn prior to a collection being made for any reason whatsoever, if recovery procedures are hindered due to the lack of response from the client for requested information or incomplete or inaccurate information is supplied by the client, or if a debt is withdrawn prior to MCL recommending termination of action, commission will be due at the stated rate(s), as if the debt had been collected in full. 
11. MCL reserves the right to accept settlement of any debt(s) by instalments. Where instalment payments are received each payment is subject to commission at the stated rate(s) or at the discretion of MCL a 5% surcharge or £20 minimum charge per instalment may be applied. 
12. Any additional services (tracing, credit checking, pre-legal reports etc) requested by the client will be chargeable by MCL to the client at the stated rate/charge. 
13. No debt will be passed for cost work without the prior written consent of the client. 
14. Foreign rates apply to Eire.
 15. Where goods that relate to a debt are subsequently returned to the client after the date of instruction of MCL, or a balance is written off, or a credit is issued, MCL reserves the right to charge the commission that would apply as if the debt had been recovered in full. 
16. All invoices issued by MCL are due for settlement 7 days from the invoice date. Unsettled accounts, not withstanding any remedies that are available under current UK legislation relating to late payment of invoices, shall attract at the discretion of MCL, a penalty of 2% per month, or part thereof, until settled in full. 
17. Where a cheque made payable and banked by the client to settle a debt fails to clear upon presentation and is invoiced by MCL, a credit will only be raised when notification in writing is given to MCL within 7 days of the cheque being returned to the client by their bankers. 
18. MCL reserves the right to decline to work any debt(s) without having to give a reason.
 19. MCL is hereby authorised to receive cheques and other instruments of payment on behalf of its clients, to bank such money into their Collection Accounts, allowing at least 14 days for clearance, remitting such sums, subject to deduction for commissions due, costs, disbursements, out of pocket expenses and any other outstanding sums due to MCL or its associates by the clients. 
20. MCL accepts instructions from clients within the EU on the basis that they comply with all Country and EU legislation and are registered under the relevant Data Protection Act to both pass information and receive response from MCL.
 21. MCL reserves the right to pass debt details to third party agencies where such intervention will assist the recovery process. Notice of transfer will only be given to the client if such transfer affects the commission rate or there is a cost implication to the client.