Debt Collection Agency in Birmingham
Debt Collection Agency in Birmingham
Birmingham is not only the largest and most populous British city outside London, it is also the economic powerhouse of the West Midlands. Birmingham has the largest employment centre in Great Britain. According to Birmingham City Council, in 2017 the total number of businesses in the city rose from 4,585 to 44,395.
As Birmingham continues to dominate and grow, individuals are looking to save time and money. It is no different when it comes to the problem of recovering debts. Instead of the expensive and prolonged processes of legal action, many businesses are now looking to professional Debt Collection Agencies.
Financial Conduct Authority
Many people have misconceptions surrounding Debt Collectors. This should not be the case anymore. Modern Specialised Debt Collection Agencies in Birmingham run under the guidance of the Financial Conduct Authority (FCA). Every day these companies are helping businesses control their credit and cash flow so they can keep trading.
There is of course a time and a place for using a solicitor. However, to collect payment right at the start of a debt collection process, a solicitor may not be the most cost-effective. Plodding down the well-trodden legal route is also a time-consuming way to go about it. A good debt collection agency should be able to support you throughout a legal process if needs be.
The success of a Debt Collection Agency will be results-driven. Most reputable debt collection firms work on a ‘No Collection – No Costs’ basis and represent a much more efficient way to recover the business debt.
The commission fee for a debt that has been paid is usually around 10-20% (average 15%). Any variation will be based on factors such as the value and age of the debt in question. Also if the Business debt is disputed or an overseas customer.
Today, as Birmingham’s economy, is dominated by the service sector and economic growth accelerated each successive year. Birmingham City Council plans to make 2018 a city of inclusive growth where the opportunities and benefits of progress and investment are felt by all.
With this economic growth, there are a number of professional and licensed debt collection agencies in Birmingham. Some have achieved their reputation accountability by getting their work done quickly, professionally and by conducting themselves in a customer/debtor friendly way.
When it comes to procuring a professional business debt collection agency in Birmingham, you need to be sure you are dealing with professionals. Only use a licensed, accredited and Debt Collection Agency.
Debt collectors should always act in a professional manner. Normal methods of contact will be via email, phone or letter. Staff should be trained to listen, find a solution and/or determine if the debtor has the capital to pay the remaining debt. Harassment of a consumer is against debt collection guidelines and is also ineffective. Using an unprofessional and unlicensed Debt Collection Agency in Birmingham could well land you in trouble with the Law.
Always make sure the agency is licensed by the Financial Conduct Authority (FCA) and is a member of the Credit Services Association (CSA). It is acceptable to ask for a copy of the agencies licence.
The top award-winning business Debt Collection Agency in Birmingham is Federal Management. For Private Debt Collection matters, people’s first choice is Frontline Collections.
If your business is encountering cash flow issues as a result of non-paying customers, there is recourse. Debt Collection Agencies are becoming increasingly the most viable option for companies across the United Kingdom. From providing Debt Recovery services for the Football industry to Debt Collection for Small Businesses, we can help any type of company.
There are a number of benefits to hiring and A Professional Debt Collection Agency in Birmingham. By providing a pre-instruction assessment, we can measure the realistic prospects of a recovery. Also, we advise you on the basis of the findings.
Federal Management is the UK’s most accredited Debt Collection Agency in Birmingham. As well as being authorised by the FCA, Federal Management is the only Agency to be awarded accreditation by the National Skills Academy for Financial services in addition to holding accreditations from Investors in People and the Credit Services Association.
We also hold ISO:9001 accreditation for our high level of internal performance.
Our Low-Cost service has been used by thousands of businesses in Birmingham. Federal Management is second to no other in terms of cost, service and professionalism.
Call our friendly New Business Team on 0333 043 4423 to discuss your requirements and you will discover the benefits of working with the UK’s leading Debt Collection Agency.
Federal Management Ltd – Midlands Office Address: Office 1, Izabella House 24-26 Regents Place, Birmingham B1 3NJ – Tel: 0333 043 4423