These Terms & Conditions represent the entire agreement between Nextgen Debt Recovery UK Ltd (hereinafter referred to as "Nextgen") and the party named and located on the accompanying document (hereinafter referred to as "the Client"). The Client hereby authorises Nextgen to pursue the specified debts, which may include personal loans, business debts, or other obligations, using any lawful means deemed necessary. This may include visiting the debtor's address as provided by the Client or any address traced by Nextgen. The Client is responsible for providing accurate and complete information regarding debtors. Nextgen will conduct its activities ethically and within the bounds of the law. This agreement is valid for 180 days from the date of acceptance and may be extended at Nextgen’s discretion if the debt is still considered recoverable with a realistic chance of collection.
These Terms & Conditions cannot be altered without mutual agreement.
Nextgen will offer debt recovery services under the following conditions:
Services will begin immediately upon signing this agreement, and the subscription fee must be paid as cleared funds right away.
The initial service period is 180 days. If no collections are made within this time, Nextgen may extend the contract at its discretion at no extra cost.
Nextgen will keep the client updated and informed throughout the 180-day service period. No updates will be provided after the contract has expired.
Nextgen is not responsible for delays in service due to:
Nextgen may cease services if:
Nextgen expressly excludes any responsibility for costs that may arise, be incurred, or awarded in relation to the efforts made to recover the debt owed to the client. This means that if any expenses occur during the debt recovery process—such as court fees, legal costs, or other related expenses—Nextgen will not be held accountable for those costs.
If circumstances prevent the successful recovery of the debt—such as being unable to locate the debtor or if legal reasons prevent the debtor from being able to fulfill the debt—Nextgen will provide a written report detailing the situation to the client upon request. This report will summarise the efforts made and the reasons for the inability to recover the debt. Following this, the contract will be concluded, and Nextgen will not be held responsible or liable for these events.
You may cancel this agreement at any time. The only cost incurred will be the subscription fee charged at the beginning of this contract. However, if you cancel and there is evidence that the debtor has made a payment as a result of Nextgen's efforts, or if the debtor pays the client directly while Nextgen is employed to collect the debt, you may be required to pay a 15% commission on the total debt amount, as this is considered a collected debt by Nextgen
In the pursuit of debt recovery, Nextgen may occasionally recommend that formal legal proceedings be initiated. In such cases, Nextgen will provide the client with an introduction to our company solicitors. Alternatively, if specifically instructed by the client, we will coordinate and communicate with our solicitors on the client's behalf.
If the client, or Nextgen on the client's behalf, instructs our company solicitors to act, all costs, fees, disbursements, and other associated expenses will be governed by the agreement between the client and our solicitors. Nextgen is not authorized to agree to, modify, or negotiate any costs charged by our solicitors during the handling of any matter referred to them.
Nextgen does not accept any liability or responsibility for the actions or conduct of our company solicitors regarding the client's instructions.
Any funds recovered or secured on behalf of the client from the date of instruction provided by the client (or Nextgen on the client's behalf) to our company solicitors will be subject to a commission charge by Nextgen. This charge will be at the rate agreed upon between Nextgen and the client at the time of the initial instruction, or any subsequent rate variation communicated in writing by Nextgen to the client.
The client agrees that our company solicitors will remit any recovered funds to Nextgen in accordance with this agreement.
If we are instructed by our clients to undertake any extra legal work that falls outside the scope of this contract, such work will be outsourced to our company solicitors. Charges for this additional work will be applied accordingly.
Nextgen shall, under no circumstances, become a party to any agreement made, reached, or created between the client, its employees or agents, and any debtor or third party, including their employees or agents.
Nextgen shall charge a commission rate of 15% on all monies recovered, unless a different rate is specified elsewhere in this agreement. If a debtor is on a payment plan, the commission will be due on the debt, Nextgen will manage the payment plan for its full duration, unless otherwise agreed with the client.
The client, along with its employees or agents, agrees to provide Nextgen, along with its employees or agents, written notice of any monies received in relation to debts placed with Nextgen for collection. This notice must be sent to Nextgen's registered office address and should occur within seven days of the client or its representatives receiving such monies. Additionally, the client must notify Nextgen immediately via phone call or email upon receipt of such monies.
The contracting party agrees to pay Nextgen all costs, interest, and agreed commission, along with any applicable Value Added Tax (VAT), on monies received by the contracting party. The rates for these charges will be determined by Parliament and may change from time to time.
Commission on the debt amount is due upon any sums paid directly to the client from the date of this contract. These amounts will be considered a collection, and our commission will be charged and immediately payable.
Nextgen reserves the absolute right and discretion to allocate funds into accounts as deemed appropriate for holding such monies. If the client consents to a debtor's request to settle sums due through an installment arrangement, fees and/or commissions owed to Nextgen will also be charged up to the total value of the agreed installments, in accordance with the current rates established between the client and Nextgen. All such charges will be subject to Value Added Tax (VAT).
Payment for these charges will become due from the client upon receipt of the first installment from the debtor.
In the event that a debtor defaults on an agreed installment, Nextgen will make every effort to recover the outstanding balance of the sums due. However, the client will not be entitled to any refund of commissions or fees, regardless of whether Nextgen is successful in recovering the balance of the monies due.
English law shall govern the construction, performance, and validity of these terms and conditions, as well as any contract between Nextgen and the client. Both parties agree to submit to the jurisdiction of the English Courts, as directed solely by Nextgen.
Nextgen will not discuss any part of this agreement with any third party. This contract is therefore bound by a Non-Disclosure Agreement (NDA). Both parties agree that no portion of this contract shall be disclosed to any external party, including discussions in the public domain during or after the contract period. This includes, but is not limited to, online forums, social media, and online review sites, without the express permission of Nextgen, in accordance with The General Data Protection Regulation (GDPR). Any breaches of this NDA will result in immediate injunctive relief and may incur significant cost orders.
