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Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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A UK-based Timeshare Debt Recovery agency is claiming "costs"

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A UK-based Timeshare Debt Recovery agency is claiming "costs" as a percentage of the amount owed. I dispute that these are not "costs" at all, and therefore unfair.
Your comments please....
Hello my name is ***** ***** I will help you with this.
IS it a % rather than a fixed amount for time spent etc?
Customer: replied 2 years ago.

They have said "The costs in question are based on a calculation of 17.5% of the principal sum and interest"... The interest the resort added was 15%

Seems unfair to me that someone with much lower debts pays less, even though the amount of work is substantially the same..

I agree. The work is the same whatever it is the value. In any event they are only entitled to try and charge 8% under the County Court Act 1984 but even then it is at the discretion of the Court.
They can't claim a flat rate, they can only charge for work done. This would be a term deemed to be unfair.
Can I clarify anything for you about this today please?
Customer: replied 2 years ago.

Thank-you Alex.... just as I thought.

Please clarify the "...entitled to charge 8%.." is this in addition to "costs" or instead of ? And they would need to go through the courts to claim this ?


8% on the principal debt and yes they would need to go to court to get this Dave,
Does that help?
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Customer: replied 2 years ago.

Question answered, thanks... and already rated.