Terms & Conditions - Cobra Financial Solutions Ltd

No-nonsense, straight-talking debt collection service


1. The following Terms & Conditions are the only Terms & Conditions, which Cobra Financial Solutions Ltd (hereinafter called ‘Cobra’) contracts with the party whose name and address appear overleaf (hereinafter called ‘the client’). The Client hereby instruct Cobra to pursue debt(s) by whatever means within the law it deems necessary including visits to the debtors address as supplied by the client or at the address which Cobra has traced

2. The Terms and Conditions of this agreement shall not be varied

The Service

3. In consideration of:-

3.1 The payments of the contract price as detailed overleaf and subject to strictly the terms and conditions herein Cobra, its servants or agents, shall provide a debt recovery service for the period of 120 days but not exceeding one year., or

3.2 The payment of the Subscription fee as detailed overleaf and subject to strictly the terms and conditions of Cobra its servants or agents shall provide a recovery service in relation to the individual debt as described and fully detailed within the recovery demand completed by the client, if there is more than one debtor on a completed recovery demand then this will be marked as a multiple case contract internally.

4. The service provided shall commence immediately upon the signing of this contract and the subscription fee must be credited immediately to Cobra as cleared funds.

5. For the purpose of this contract not being a yearly service we shall undertake your debt for a 120 day period if by this time there have been no collections we will at our upmost discretion have the right to extend the contract at no further cost to our client.

6. Cobra is under no obligation to provide interim written reports. We will provide updates on the case where an update is required to be given.

7. Cobra expressly excludes liability whatsoever arising for any delay in the provision of service where:-

7.1 The full and precise details of the debt and any other information pertaining to the debt have not been and/or are not able to provide to its servants or agents by the client whether expressly requested or otherwise:- or

7.2 Documents and/or letters issued are delayed and/or destroyed in circumstances beyond the control of Cobra its servants or agents:- or

7.3 The individual or company named as debtors in bankruptcy, liquidation or receivership, or any insolvency proceedings as defined by and/or pursuant to the insolvency act 1986, or any amendments to the act or subsequent act of parliament are reasonably believed to be immediately pending.

8. Cobra shall be under no further obligation to the client in respect of any debt placed for recovery with Cobra and pursuant to this agreement where:-

8.1 The debt has been paid to Cobra and account made to the client, its servants or agents, pursuant to the terms and conditions here under:-

8.2 The debt has previously been or is subject to court proceedings and/or commencement of the litigation process has been made pursuant to such proceedings:- or

8.3 The service to be provided by Cobra, its servants or agents has been exhausted., or

8.4 The client, its servants, has failed to respond to reasonable requests and/or correspondence from Cobra, its servants or agents; or

8.5 The debtor is / or becomes subject to the actions described under clause 7.3; or

8.6 In the opinion of Cobra its servants or agents there exists no reasonable prospect of discharging the civil burden of proof within the courts of England and Wales, or Scotland for this reason the debt is deemed such that there is no reasonable prospect of recovery; or the expiry of the term of this agreement

8.7 Expressly exclude any liability for the set-of and/or counterclaim arising from any action and / proceedings to recover the contracting parties debt

9. Cobra expressly exclude any liability for any cost arising; incurred or awarded as a result of the attempts of Cobra to recover the debt owed to the contracting party.

10. Should circumstances negate, or the debtors’ whereabouts prove insuperable, or in the event of the debtor not being, for legal reasons, able to underwrite the debt a written report outlining events in relation to the above will be issued to the client if so the client request, and will conclude this contract, Cobra will not be held responsible/liable for such events.

11. You may cancel this agreement at any time, the only cost therefore will be the subscription fee that has been charged at the outset of this contract.


12. From time to time, in the pursuit of debt, recommend formal legal proceedings to be taken. In such circumstances Cobra would offer to the client, an introduction to our company solicitors, or if expressly instructed by our client we would liaise with our company solicitors on the behalf of our client.

12.1 Should the client (or Cobra upon the clients’ behalf) provide our company solicitors with instruction to act upon their behalf all costs, fees, disbursements and other associate will be subject to agreements between the clients and our company solicitors. Cobra are not authorised to agree, vary or negotiate costs levied by our company solicitors upon the client during the course of their conduct if any matter referred. Cobra does not accept liability or responsibility in connection with the conduct of our company solicitors in respect of the clients’ instructions.

12.2 Any monies recovered or secured upon the clients behalf from the date of provision of instruction by the client (or Cobra on the clients behalf) to our company solicitors will be subject to a commission charge by Cobra at a rate equal to the rate agreed between Cobra and the client at the time of first instruction, or any subsequent written rate variation as notified by Cobra to the client. The client agrees that our company solicitors will account to Cobra in respect of any monies recovered.

12.3 If we are instructed by our clients for the purpose of any extra legal work outside of this contract then this will be outsourced to our company solicitors and charged accordingly.

Receipts & Payments

13. Cobra Financial Solutions shall under no circumstances become a party to any agreement howsoever made, reached or created between the client, its servants or agents, and any debtor / or third party, its servants or agents.

14. Cobra Financial Solutions shall charge a commission rate set at 15% of all monies recovered unless stated differently overleaf.

15. The client, its servants or agents hereby agrees to provide to Cobra, its servants or agents, at its registered office address written notice of receipt of monies pursuant to debts placed with Cobra for collection and subject to the terms and conditions here under and receive directly by the contracting party, its servants or agents, with seven days of receipt of such monies being received.

16. The contracting party hereby agrees to pay Cobra costs, interest and agreed commission and V.A.T. thereon, at a rate set by parliament from time to time prevailing on monies received by the contracting party.

17. Any sums paid to the client directly to the client from the date of this contract will be deemed a collection and therefore our commission will be charged and will be immediately payable.

18. Cobra reserve the absolute right and discretion to place funds into accounts, as it thinks fit for the purpose of holding such monies where the client consents to a debtors request to discharge sums due by way of an instalment arrangement, fees and/or commissions due to Cobra will also be charged up to the aggregate value of the total instalments agreed in accordance with the current rates agreed between the client and Cobra and all such charges, will be subject to V.A.T. Payment will become due from the client upon receipt of the first instalment from the debtor.

19. Where a debtor defaults upon an agreed instalment Cobra will endeavour to recover the balance of the sums due. In the event of which, the client will not be entitled to any refund of commissions or fees, whether Cobra are successful in securing the balance of monies due or not.


20. English Law shall govern the construction, performance and validity of these terms and conditions and of any contract between Cobra and the client. Cobra and the client shall submit to the jurisdiction of the English Courts, as Cobra shall in its sole discretion direct.

21. Cobra Financial Solutions will not discuss any part of your agreement with any third party and therefore this contract is bound as a Non Disclosure Agreement (NDA). Both parties agree that no part of this contract is to be discussed with any other party. No part of this contract is to be discussed within the public domain either during or after the contract has expired, this includes online forums, within social media and online review sites without the express permission of Cobra under The General Data Protection Regulation (GDPR). Any breaches of this NDA will result in immediate injunctive relief with an immediate significant cost order.

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