Before you take your debt recovery efforts to a small claims court, you know to familiarise yourself with the process and what doing so entails. This includes knowing the minimum and maximum amounts that you can claim. Knowing these could influence whether the small claims court is the right debt collection method for you. In this blog, you will learn how much can be claimed and what to do if you want to claim more.
How Much Can Be Claimed?
You can claim for amounts up to £10,000 in a small claims court, and there is no minimum amount. If your claim is related to personal injury and housing disrepair, you can claim up to £1,000. However, it’s important to remember that small claims court can be costly, so claiming for small amounts might not be worth the time and costs that you’re likely to be faced. It’s these limitations that deter a lot of people from pursuing a debt through a small claims court, and towards using a specialist debt collection team.
What if I Want to Claim More?
There are procedures in place for claiming larger amounts through the courts, but these procedures are generally slow and unreliable. There is no guarantee that you will be able to claim more, nor is there a guarantee that your claim will be successful. The other option is to use face-to-face debt collection services, which we offer at Cobra Financial. The minimum amount for this type of debt collection is £1,000 and we are confident in claiming debts that go beyond what a small claims court can handle.
There is no denying that taking a debtor to small claims court can be successful, but that’s not often the case. Often, it’s a time-consuming and stressful process. It’s likely to be costly, especially once you factor in the cost of hiring a solicitor and court fees. Therefore, a lot of people skip the small claims court process and go straight to enlisting the help of a debt collection agency.
At Cobra Financial, we pride ourselves on successfully recovering debts of all shapes and sizes. It doesn’t matter how much you are owed or who your debtor is, we go above and beyond to ensure that the debt is settled effectively and efficiently. To find out more about any of our debt collection services, contact our helpful team.