Top 10 F.A.Q.s
- Q1: Where are you actually based?
- Q2: What makes Federal Management the UK's Number One for Debt Collection over other Debt Collection Agencies and/or solicitors?
- Q3: What are your commission rates?
- Q4: I have heard of the great work you have done and we want to instruct your company in relation to our bad debtors
- Q5: How long will it take to collect our debts?
- Q6: What licences and accreditations do you hold?
- Q7: What do you actually do with the cases/accounts that we pass to you?
- Q8: Are there any disbursements or up front fees?
- Q9: I have heard of these 'No win - No fee' companies. Are they as good as they seem?
- Q10: Do you provide a Credit Checking and tracing facility?
Federal Management's Head Offices are based in Skelmersdale, Lancashire. We also have Collection Offices in Manchester & London and are shortly to open a new office in Scotland. Our services cover the whole of the UK & Northern Ireland and we are also able to collect in over 83 different countries via our network of partners and associates.
What makes Federal Management the UK's Number One for Debt Collection over other Debt Collection Agencies and/or solicitors?
In summary, We operate a Low Fixed Cost comprehensive service that offers the Lowest Commission rates in the UK. We are results driven and have no interest in protracting the collection of your debts as the sooner we collect the debt, the quicker you get paid and the quicker we get paid.
There are literally hundreds of reasons why companies choose our services but here are what we consider to be the top reasons why:
What we do offer
- Up to 87% Success rate on Undisputed Cases.
- Lowest UK & International Commission rates.
- Dedicated Experienced Account Manager.
- Online Client Access for Multiple Accounts.
- Fixed Cost - No Hidden Fee Service.
- ISO9001 Accredited Organisation & CSA Members.
- International Partners in over 83 Countries.
- Legal Dispute Resolution & Mediation Team.
- Debt Collection Officers to visit Debtors.
- High Court Enforcement & Bailiff Partnerships.
What we don't offer
- We have no ties to Insolvency Companies that help your debtors go bust.
- We do not operate Drip pricing policies or hidden fee earning structures.
- We do not charge ridiculously high commission rates, as high as 50% in some instances.
- We do NOT invoice you for our costs if we do not collect.
- We are not simply a marketing front for expensive Solicitors.
- We do not drag out a claim so as to charge you more in fees.
- We do not pretend to have resources we simply do not.
- We do not operate Call centres or conveyor belt procedures.
- We do not take on just any debts without a full pre-action assessment.
- We do not keep any payments recovered for any longer than specifically necessary.
They vary from 6% - 20% dependant upon the value and amount of debt that you are looking to place with us. We also take into consideration the type of debt it is as certain types of debt are much harder to collect than others. We have to manage the potential costs incurred to ourselves in the collection of a debt which can literally run into thousands of pounds.
I have heard of the great work you have done and we want to instruct your company in relation to our bad debtors
All enquiries are subject to a vetting procedure from outset. Unfortunately, we cannot guarantee that we will take your accounts/debts on and regularly decline instructions on portfolios of debt that are deemed to be unsuitable. This can be for a number of reasons i.e.. Lack of supporting evidence to substantiate the claim, the type of debt is not appropriate for our services, too low values etc Because of the amount of work that goes into our procedures for Debt Recovery, we regularly spend thousands and thousands in the pursuit of just one debt so we apply due diligence from outset in relation to any potential instructions that we receive.
We offer a free risk assessment on all multiple account enquiries with a Senior Collection Consultant who will make a fair and frank evaluation the debts you are wishing to pass to you. Call the New Business Team on 0800 043 6922 for further information.
We cannot place any guarantees on how long it will take to collect the debt in full however, we maximise the potential of a successful recovery as quickly as possible as obviously it is a far more cost effective exercise for us to recover monies sooner rather than later. We aim to recover a part payment, if not full payment within 30 days where possible.
We are licensed by the Office of Fair Trading, ICO and we are ISO9001 Accredited. We believe in delivering the best service possible and our ISO9001 Award gives testament to that. In addition we are long standing members of the Credit Services Association, Members of the UK Debt Collection Bureau and members of various regional Chambers of Commerce around the UK.
From instruction, we apply our vigorous pre action protocols and apply due diligence on each case we receive. We will verify all the information you have supplied us, ensure the details are correct and carry ID & address verification checks on each debtor. We also data cleanse all the information you provide us and search out any new and available contact telephone numbers prior to the commencement of our actions. We will also investigate the background of the company in question or verify their employment details where possible.
Only once all these pre requisites are completed do we then begin our robust Debt Collection procedures to recover your money. These pre action investigations are usually completed within 24-48 hours of us receiving the instruction and allow us to apply the most appropriate and effective methods in the collection of your debts.
Federal Management operates a fixed fee - no hidden cost policy and we do require an initial fee that goes a small way towards the costs that we incur. We do not label it is a 'membership fee' nor do we make an empty promise that it will be refunded after 12 months. As our services are the most robust in the UK, we leave no stone unturned in the pursuit of your debt and we accrue considerable costs accordingly. We are not fee earners and do not charge you for every action we do, we simply request that you pay a nominal sum in relation to the amount owing to you. There are no hidden or extra costs and we do not invoice you if we are unsuccessful in our efforts unlike many of the 'no win - no fee' organisation.
The administrative fee payable is in direct relation to the amount owing as our practices change accordingly. The fee that is paid is simply absorbed into the considerable costs that we incur as we offer the UK's only fully Comprehensive Pre Legal Debt Collection Service and hence why we are cited by the Business media as having by far the most Cost Effective Debt Recovery solution in the UK.
We boast a number of large law firms who actually outsource their Debt Recovery work to us, such is our success rate and reputation within the Industry.
No is the simple answer and there are thousands of Businesses and individuals across the UK who would testify to this.
We refer you to the "What we don't offer" part of the answer in Question 2. We are and will continue to be the Number One for Debt Collection in the UK. Our commission rates are the lowest and our recovery rates the highest. Any other choice could be a financial landmine.
Our sister company is Creditsure, one of the UK's leading online Company Credit Checking service providers. If you are a new Federal Management client, they will provide you with 5 FREE checks. They also provide a Tracing service and can perform Tenant Checks for Letting Agents and Landlords.