Debt Collection Agency or Legal Proceedings?
In the modern day world of business, prompt payment has a very important role to play in the maximising of a company’s cash flow. For undisputed payments, a straight forward and expedited process will smooth the profitability of your company therein.
One situation that arises for some companies is whether it is deemed ethical, professional and indeed, cost effective to use Debt Collection Agency rather than seek alternate recourse such as issuing their own claim or appointing a firm of solicitors.
Some people think they risk ruining their business image by using a Debt Collection firm. This is not the case with Federal Management. We are always mindful of existing trade relationships and conduct all our activities in a compliant and ethical manner.
The facts are that less than 1% of the unpaid debt cases we deal with require court action so that may answer any many of the queries you have already but here are some of the commonly asked FAQ’s we receive in this area.
- Are you professional like a Law firm? Extremely. We are approved and regulated by the Financial Conduct Authority. Our high professional standing is demonstrated by our ISO:9001 accreditation and our Investors in People Award for high levels of staff training & development.
- Is it cheaper to use your services than instruct solicitors? – Yes. We are not fee earners nor charge costly disbursements. Our service is fully inclusive and there are no recovery costs to pay other than the agreed commission for a successful recovery.
- Will I get my money quicker using your service? – On average, yes is the resounding answer. The court process can be very lengthy and expensive with it. The sooner we recover your money, the better for all concerned.
- What if the debt is legally disputed? – If the debt is disputed, our Legally experienced Collection Officers will mediate a resolution where there is a civil burden of proof.
- What if the debtor can’t pay in full? We will negotiate the best repayment schedule for you and manage it till the debt is paid in full.
- What if you don’t manage to recover our debt, do we have to pay any costs? No, there are no costs to pay in the event we do not recover your debt or debts.
Where it is absolutely necessary to enforce payment, we can action court claims and enforce with our High Court sheriffs. We will always seek the most cost effective way to recover a debt and our values are based upon a principle over profit mentality. This is what makes us Number One in terms of results and cost.
Federal Management are the leading solution for Business Debt Recovery. We represent some of the most prestigious companies in the UK including top Football clubs, revered London organisations and even recover debts for some Law firms themselves.
In essence, we do not charge per hour or per action, we charge only for our success.
If you or your business are looking for a professional cost effective Debt Recovery solution, there really is only one option in the UK. For further information or for a free assessment of your Debt Recovery requirements, call our friendly New Business team today on 0333 043 4420