The majority of businesses, at some point, will face a customer who does not pay on time. Consequently this may result in your business experiencing cash flow problems and having bad debts. These customers are usually facing their own financial difficulties and prioritising other creditors over you. This is likely to result in you seeking a Debt Collection service.
Free Commercial Debt Recovery
First of all, recovering a debt can be a stressful and challenging situation. Frequently, the debtor usually ends up ignoring all requests for payment or offering numerous excuses. As a result, making you more frustrated.
Our uniquely tailored no win no fee business to business debt collection service comes completely risk free! In the unlikely event that we cannot successfully recover your money, we do not charge you a penny. Our team are fully aware of the pressures and stresses that come with the Debt Recovery package. We use our experience to obtain the results demanded by our clients.
We do not discriminate on debt size, therefore if your debt is £20.00 or £2,000,000.00, we are happy to help. However, we do have two restrictions to this service:
- Your debtor must be operating within England and Wales.
- Both you and your debtor must be either a Limited Company, Partnership or Sole Trader.
To recover a commercial debt it is critically important to take action quickly. If your debtor continuously makes excuse after excuse, they will likely be prioritising their other creditors. Our debt collection service will make you priority number one so that you are at the front of the queue.
The First Step in our Free Debt Collection Process
We understand that it is important to protect future business relationships and opportunities. Therefore while most other debt collection agencies push towards using the court service. We take a more cost effective and straight forward approach. Our highly trained, professional agents not only recover your money, but also safeguard these relationships.
Firstly, we write to your debtor introducing ourselves. Also, we clarify that they have limited time to settle before we take legal action. We explain that this is due to their failure to comply with their responsibilities. This initial debt collection letter outlines that they have 7 days to pay or respond.
Our aim of this initial letter is to open communication with your debtor and arrange a swift settlement. We will negotiate an instalment plan if your debtor is unable to pay in full. We will not accept any payment plan until we obtain your approval. When corresponding with your debtor we include any costs associated with the Late Payment of Commercial Debts (Interest) Act 1998.
If we do not manage to open communication with your debtor after the first initial letter we take further action. We will firstly send up to four more letters in the hope that this will prompt them into responding. We will also call your debtor if you are able to supply us with the relevant details.
Our Free Debt Collection service lasts for a maximum of 30 days. In the rare occasion that there is no conclusion within this time we would propose that we progress further. The next approach we would suggest to take would be Litigation.
Consumer Debt Collection
Unfortunately, we cannot offer a Free Debt Collection Service if you or your debtor are an Individual. We do, however, offer a wide range of services that can assist you. To find the one that best suits your situation, please click here.