Debt Recovery
Debt Recovery
Our Success rate for debt recovery is very high and is due to a tactful, direct and swift approach to wards debtors. The intervention of a third party is one of the most effective means for a company to collect overdue debts.
Our Collectors are highly trained and motivated individuals who have many years experience in the debt collection industry.
Key features of our commercial debt collection service are:-
Dedicated Account Manager for each client
Clients have a dedicated Account Manager so that they know who is dealing with their debts at all times. Each Manager is highly trained and capable. They learn the background to each matter and apply the most appropriate course of action. Useful advice and guidance can therefore be given to clients at each stage of collection.
Bespoke action paths depending on the debt age, type and criteria
No two debts are the same. To achieve the best chance of recovery, each debt must be treated individually and the most effective collection techniques used depending on the age, type and criteria of each matter. Debt information is analysed on receipt and a decision taken as to the quickest recovery procedure to be used.
Proactive collection by telephone
By far the most important step in collecting debt is contact with each debtor by phone. Our team of highly skilled collectors use all methods of persuasion at their disposal to ensure maximum returns for their clients. Excuses are overcome and disputes resolved.
Personal visits
Where a more persistent approach is needed, the debtor can be visited at home or work. If necessary, legal proceedings can be personally served to ensure maximum impact. Focus on insolvency procedures resulting in early payment
By applying our philosophy of debt collection the “can’t pays” are quickly separated from the “won’t pays”. The latter category is then chased using insolvency procedures, rather than traditional methods, Debtors are advised personally of the implications of insolvency, normally resulting in a successful recovery.
Extensive payment methods for debtors and remitting to clients
It is important to ensure the debtor has no excuse not to pay. We therefore take all methods of payment including cash, cheque, bankers draft, BACs, CHAPs, Standing Orders, credit and debit cards. Cleared funds are remitted to clients each week from our audited client account in whatever format our clients require.
Regular progress reports in multiple formats
It is important clients are aware of what action is being taken on their cases and are kept informed of progress throughout. Our automated system ensures this happens in every case. Clients are notified on each case as developments occur and receive regular reports on their entire portfolio of debt placed with us for collection.
Dispute resolution service
In the current economic climate, debtors try to avoid payment by raising spurious or vexatious disputes. Sometimes the amount concerned can be a fraction of the total debt value outstanding, and yet the debtor withholds the entire sum overdue. Our team of collectors are fully trained in the art of negotiation and quickly establish the facts of each matter. Disputes can then be overturned and matters settled quickly without the need for lengthy litigation through the Courts.