Our Services

Service Charge

Debt Collectors

We provide a professional service charge debt collection service to property and block management companies. We also work directly with RMC or RTM companies.
The first step
Firstly we would need to carry out the usual identification/anti-money laundering checks and issue you with our Terms of Business.
You can instruct us by going on the website www.principaldebt.co.uk or sending an email to info@principaldebt.co.uk 

We would appreciate if you could send as much information as possible when instructing us on the case. We would require:

  • Claimant name (management company name/Freeholder)
  • Debtors Full Name
  • Property address
  • Debtors – correspondence address
  • Debtors email address
  • Debtors telephone number
  • Service Charge/Ground Rent Statement. Please go back as much as you can, or ideally when the balance was last at £0.00. 

We will than automatically keep you updated on the progress on the case.

Service Charge

Debt Collection

We offer debt collection services to all companies in the U.K. 

We work with a range of different companies of all sizes and can assist them in the recovery of debt.

We work on the basis of No Win No Fee. 

Our first instance is to recover the debt and our fee from the debtor. The full payment is paid to us and we would transfer the full amount without deductions to you.

If the debt is paid in full but they haven’t paid our fee, we would request this is paid by the client.

Service Charge

Arrears Process

You could automatically instruct us to manage the credit control function of the company.

Depending on the system you use, many clients decide to add a user on to their system as a reader only to monitor the arrears cases. When charges are overdue by 30 days we would automatically send an arrears letter to the debtor. This saves the managing agent time and greatly improves the service the managing agent provides to their clients. They can constantly update their clients that arrears cases are promptly dealt with as standard.

This reduces the workload for the property as we would have some access to the system in order to proceed with the collection.

There is no charge to our clients for dealing with this as any charges raised are paid 100% by the debtor.

If clients prefer they can continue manually instructing us by either visiting our website or sending us an email.

We are here to work with you.