Business Debt Recovery
Business Debt Recovery in the UK
Business debt recovery involves the utilisation of a debt collection agency to recover an outstanding debt. These agencies often use a multitude of resources and methods to do this.
Most debt collection agencies have well-trained staff who are versed in the art of negotiation which enables them to perform business debt recovery professionally.
Generally, debt collection agencies will also have a legal department who handle debts should county court proceedings be required. For those businesses that don’t have the time, resources or know-how to collect their debts or unpaid invoices then business debt recovery is the way to go.
As the majority of businesses do not wish to go to court, either for the negative publicity or to have CCJ’s registered against them, generally they will be more than willing to resolve the debt prior to it being passed for court proceedings.
As part of the business debt recovery solution, the debt collection agency will attempt to find the best solutions to recover the debt without the need for expensive court proceedings.
This can be through a variety of methods such as sending demand for payment letters, utilising self-employed debt collectors to visit the premises which both give the chance for a debtor to resolve the issue without the negative impact it could have against their company if court proceedings were issued.
These methods are considered to have the highest success rates in the collection of a debt. Other business debt recovery services that you may be provided with can include regular updates via email or by fax which will keep you in the know on what is happening with your case.
A business debt recovery service need not be expensive, either, as you will generally pay a small administration fee, or a fee upon collection and these fees can sometimes be added to the debt.
Using a business debt recovery agency can be a very smart move for any business large of small.
Key benefits of working with a Business Debt Recovery Agency.
– Speed: Debt Collection Agencies know how to recover debt quickly and efficiently. They will contact the debtor and go through all legal requirements to ensure you get your money back as soon as possible.
– Professionalism: As experts in their field, they understand the law and use the necessary procedures for each situation. A professional approach also helps to save time, as debtors are more likely to take the task seriously.
– Cost Effective: Debt Collection Agencies save businesses on staff costs and legal costs, as well as other expenses associated with recovering debt. They also ensure that all debts are collected in a cost effective manner.
– Knowledgeable: By working with an experienced and knowledgeable agency, businesses can be confident that their debt is being handled in the right way. They have a wealth of experience and can provide advice on how to recover your debts quickly and cost effectively.
– Reliable: Federal Management have been in the collection industry for nearly 20 years, meaning they understand all aspects of debt recovery and take pride in getting results quickly and efficiently.
– Proven Track Record: Federal Management have a proven track record of success when it comes to collecting debt from individuals and businesses. Their team use the most up to date techniques and technologies, coupled with an in-depth knowledge of the law, to make sure that debts are recovered quickly and efficiently.
– Professionalism: When dealing with customers who owe money, Federal Management understand how important it is to be professional. Their team of experienced professionals will liaise with debtors in a courteous and respectful manner, while still remaining firm and persistent in their demands for payment.
– Affordable: Federal Management provides a low fixed fee service. There are no hidden fees to pay and no abortive costs if we are unsuccessful.
– Effective: Federal Management has an impressive track record of recovering debts with a high proportion being paid in full where possible. We use a range of tools to ensure that debtors are put under pressure to settle without recourse to legal action where possible.
– Security: Federal Management understand how important it is for customers to feel secure when dealing with a debt recovery service. We are also a FCA regulated Debt Collection company unlike most others.
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Business Debt Recovery Frequently Asked Questions
Do You Just Deal With B2B Debt Recovery?
We are the UK’s leading Business Debt Collection specialists but can also help with Private Debt Collection.
What Is Your Recovery Rate?
We collect as much as 90% on undisputed Business debts.
What Are Your Commission Rates?
Our Commission rates start from as little as 6% upwards dependant on the value, volume and complexity of the debts.
Are You A Professional Company?
Yes, we are a Multi-Award Winning FCA Regulated Debt Recovery Agency that has operated since 2004.
Do You Have A Minimum Debt Value You Will Act-On?
It depends on the nature of the debt. Normally £500+ but we can usually help or give advice for smaller amounts.
A Foreign Customer Owes Us Money, Can You Help?
Yes, we have a network of trusted, accredited Debt Collection partners around the world and have recovered millions for our clients. Cross border debt collection is one of the solutions we offer.