Create a claim
1. Enter Claims
Depending on the settl.it service you use, you can enter claims individually, upload a spreadsheet containing multiple claims or settl.it can arrange secure file transfer from your data centre. Invoices and other relevant data can be attached to the claim.
Invite to Settl
2. Invite to Settle
settl.it emails the parties owing you money and invites them to settle or negotiate online.
This invitation can also be sent by post.
Negotiate
3. Negotiate
The other party has 3 chances to bid online and meet or exceed the minimum amount that you have set in advance. Your minimum will be kept a secret from the other party.
Settlement
4. Accept Payment
settl.it arranges a secure online payment to complete the settlement. This money is transferred directly to your bank account.
Fees
5. Fees
settl.it fees vary based on claims volume and the services you use, but are far below the costs of hiring a debt collection agency or solicitor as they will be no more than 10% of the amount paid by your debtor.