No Collections No Fees
Differences in language and culture, but particularly the differences in legislation, make debt collection more complex internationally. However, CTQ group has network of trusted group of attorneys and paralegals from around the world. We provide you a complete solution to all your debt collection problems in United States as well as internationally. If we do not recover any money, we charge you nothing.
Our Debt Recovery Rates:
A.Extrajudicial debt collections:
1) Debtor pays at least the principal amount
a) You will have at least 85% or maximum 100% of the principal amount paid. Exact amount will depend on how much interest and collections cost we have been able to recover.
b) Legislation regarding this varies from state to state as well as internationally
c) Itâ€™s our mission to recover as much of the costs from debtor as possible, in such cases, 95% of principal amount can be paid out.
2) Debtor pays less than the principal amount
If debtors is not able to pay complete principal amount (due to dispute or insolvency),we wil charge you fee on a below scale. In addition, we will administrative cost of $150 exclusive of taxes. This cost includes, credit report cost, translation cost, file charges etc.
- Over the first USD 25,000 â€“ 25%
- Between USD 25,000 â€“ USD 50,000 â€“ 20%
- Between USD 50,000-USD 100,000 â€“ 15%
- USD 100,000 plus â€“ 12%
- Legal Litigation â€“ 30%
3) Debtor pays nothing
If debtor pays nothing, we charge you nothing.
B. Judicial debt collection
1) Fee for a default judgment (no defence)
If, despite our repeated written and telephone demands, the debtor does not proceed to effect payment, then we will advise you regarding the subsequent course of action.
This can be advice to close the file, for instance, because of negative credit information or because the costs outweigh the benefits.
It may also be that we advise you to conduct accelerated proceedings or common proceedings.
In the afore-mentioned cases, we will ask you in writing whether or not you wish to receive advice regarding litigation. If you would like to receive legal advice, then we will research which court has jurisdiction in which State/country and which law is applicable. We will also advise you which legal proceedings are most suitable for your claim. In addition, we will explain how these legal proceedings work and what the costs are. For conducting the legal proceedings themselves, we will charge a previously indicated hourly fee or a fixed amount, so that you always know in advance what to expect. We can also agree to a contingency fee for most accelerated proceedings, this is a fixed sum of $900 excl. taxes, plus third party costs. Of course we will recover as much of these costs from the debtor as possible.
In most cases, if the claim is awarded by the court and the debtor satisfies the judgment, then the file will be settled in such a manner that after deduction of our costs you will be left with 85% to 100% of the principal amount. This partly depends on how much interest and costs will be awarded, as this varies from jurisdiction to jurisdiction.
2. Fees for contentious proceedings
For legal proceedings we will usually be able to agree upon a fixed amount for the entire proceedings, so that you know what to expect. An agreement based on a contingency fee is also an option. These costs will be recovered from the debtor as much as possible. If your claim is fully awarded by the court and the debtor satisfies the requirements of the judgment(s), then we expect to be able to settle the file in such a manner that, after deduction of the costs, you will be left with 85% to 100% of the principal amount. For smaller claims, this percentage will not always be feasible.
We will always request your written permission before carrying out any activities based on an hourly fee or a fixed fee.
3. Returned goods
In the event that, after you have instructed us to collect your claim, goods are returned, then we will charge you 50% of the aforementioned scale over the value of these goods.
TERMS AND CONDITIONS FOR CLAIMS
1. The above rates do not apply to claims which have been handled in the past by another debt recovery intermediary.
2. The recovered amount is considered to be all that is received after we have sent our first demand letter, regardless of who has made the effort and irrespective of when the debt recovery is terminated.
3. Our debt recovery attorneys work in accordance with the guidelines as set out in accordance with the mention laws
4. In order to settle files swiftly, by instructing CTQ Group to collect your claim, you give us permission to apply the moneys paid by the debtor into the CTQ Group account for payment and settlement of (third party) invoices, legal fees, and costs. Our firm may send interim (third party) invoices if necessary. Although, we usually ask debtorâ€™s to pay directly to your account and we will bill our fees to you in subsequent invoices.
5. Any liability is limited to the amount paid out under our firmâ€™s professional liability policy in the matter concerned.
6. In the event of a dispute with a client, place of jurisdiction will be United States District Court for the Eastern District of Wisconsin