Terms of business

HK Commercial Debt Recovery

HK Commercial Debt Recovery is a trading name of HK Credit Services Ltd (Company Number 17265874).

Registered Office:

167-169 Great Portland Street
London
England
W1W 5PF

Email: casemanagement@hkcommercialdebtrecovery.co.uk

Website: www.hkcommercialdebtrecovery.co.uk

These Terms of Business govern the provision of debt recovery services by HK Credit Services Ltd ("HK Commercial Debt Recovery", "we", "us" or "our") to the instructing client ("the Client", "you" or "your").

By instructing us to act on your behalf, you agree to these Terms of Business.

1. Our Services

We provide commercial debt recovery services for business-to-business debts within the United Kingdom.

Services may include:

  • Debt recovery and collection activity

  • Telephone and written recovery action

  • Negotiation of settlements and payment plans

  • Final demand letters

  • Statutory demands

  • County Court claims

  • Enforcement referrals

  • Liaison with solicitors and other recovery professionals

We reserve the right to decline instructions at our discretion.

2. No Win, No Fee

Our debt recovery service operates on a genuine no win, no fee basis.

If no monies are recovered from the debtor, no commission will be payable to us.

No administration fees or setup fees apply.

Commission rates will be agreed with the Client before recovery action commences.

Commission is calculated solely on the principal debt amount recovered and excludes any interest, compensation, legal costs or other charges.

3. Authority To Act

By instructing us, you confirm that:

  • You are legally entitled to recover the debt.

  • The information provided is accurate to the best of your knowledge.

  • The debt is owed to you or your business.

  • You authorise us to act on your behalf in relation to recovery of the debt.

We may request additional documentation at any stage.

The Client may provide authority electronically, in writing or by completing our online instruction process.

4. Client Responsibilities

The Client agrees to:

  • Provide accurate information and supporting documentation.

  • Notify us immediately of any payments received directly from the debtor.

  • Notify us immediately of any contact from the debtor.

  • Notify us immediately of any contact made with the debtor.

  • Notify us of any changes affecting the debt.

  • Cooperate with reasonable requests for information.

Failure to provide accurate information may affect our ability to recover the debt.

5. Payments Received

The Client authorises HK Commercial Debt Recovery to receive payments on its behalf.

Where payment is received into our account:

  • We will deduct any agreed commission.

  • We may deduct any funded recovery costs recoverable under Clause 8.

  • The remaining balance will be remitted to the Client.

  • Payment will normally be forwarded within 7 working days of cleared funds being received.

If payment is made directly to the Client, the Client must notify us immediately.

Any commission due remains payable where payment is received as a result of our recovery activity.

6. Legal Recovery Action

Where appropriate, we may recommend legal action.

No legal action will be commenced without the Client's approval.

We may:

  • Act as a litigant's agent where appropriate;

  • Assist with the preparation of legal proceedings;

  • Refer matters to external solicitors where necessary.

Any recommendation regarding legal action represents our opinion only and does not constitute legal advice.

7. Funded Recovery Action

At our discretion, qualifying cases may benefit from funded recovery action.

This may include:

  • Final demand letters;

  • Statutory demands;

  • County Court claims;

  • Other recovery-related costs approved by us.

Funding is assessed on a case-by-case basis.

We reserve the right to decline funding or withdraw funding where circumstances change.

The Client shall not be liable to reimburse any funded recovery costs where recovery action is unsuccessful.

8. Recovery Of Funded Costs

Where HK Commercial Debt Recovery elects to fund legal or recovery-related costs on behalf of the Client, those costs shall remain the property of HK Commercial Debt Recovery.

We may seek recovery of those costs from the debtor where legally recoverable.

Where monies are recovered from the debtor, any funded costs recovered shall first be applied towards reimbursing HK Commercial Debt Recovery for costs incurred.

Where only part of the debt is recovered, recovered monies shall be allocated proportionately between:

  • the outstanding principal debt owed to the Client; and

  • any funded recovery costs incurred by HK Commercial Debt Recovery.

The remaining balance shall then be distributed accordingly.

The Client acknowledges that funded recovery action is provided at our discretion and that any recovery of funded costs forms part of the commercial basis upon which such funding is offered.

9. Settlements And Payment Plans

We may negotiate payment plans or settlement agreements on your behalf.

No settlement reducing the principal debt amount will be accepted without the Client's approval.

10. Withdrawal Of Instructions

The Client may withdraw instructions at any time.

No fee will be payable if the matter is withdrawn before a recovery outcome has been achieved.

However, commission shall remain payable where, prior to withdrawal:

  • Payment has been secured;

  • A payment plan has been agreed;

  • A settlement has been agreed;

  • The debtor has confirmed in writing an intention to pay; or

  • Recovery has been achieved as a direct result of our involvement.

11. No Guarantee Of Recovery

Whilst we will use reasonable skill and care in providing our services, we cannot guarantee:

  • Recovery of the debt;

  • Recovery within any specific timeframe;

  • Recovery of legal costs;

  • Recovery of interest or compensation;

  • Recovery following legal proceedings.

Every debt recovery matter carries an element of risk.

12. Limitation Of Liability

Our liability shall be limited to the value of any commission paid by the Client in relation to the relevant matter.

We shall not be liable for:

  • Consequential losses;

  • Indirect losses;

  • Loss of profit;

  • Loss of business opportunity;

  • Debtor insolvency;

  • Incorrect information supplied by the Client;

  • Court decisions or enforcement outcomes.

Nothing in these Terms limits liability where such limitation would be unlawful.

13. Confidentiality

Both parties agree to keep confidential all information obtained during the course of the recovery process unless disclosure is required by law or is necessary to pursue recovery of the debt.

14. Data Protection

We process personal information in accordance with UK data protection legislation and our Privacy Policy.

Information may be shared with:

  • Solicitors;

  • Courts;

  • Enforcement agents;

  • Insolvency practitioners;

  • Tracing agents;

  • Other parties reasonably required to assist with recovery of the debt.

A copy of our Privacy Policy is available on our website.

15. Complaints

If you are dissatisfied with our service, please contact:

casemanagement@hkcommercialdebtrecovery.co.uk

We will investigate all complaints fairly and aim to provide a response within a reasonable timeframe.

16. Governing Law

These Terms of Business shall be governed by the laws of England and Wales.

Any dispute arising from these Terms shall be subject to the exclusive jurisdiction of the courts of England and Wales.

Last Updated: [07-06-2026]