Leaders in Commercial Debt Collection
Leaders in Commercial Debt Collection
2014 was a successful year for Federal Management and our clients as our recovery rates increased even further with further developments and pioneering practices within our accredited Debt Recovery services.
We welcomed a number of new partnerships with leading industry companies & PLC’s as well as further cementing our growing International reputation by recovering large debts on behalf of companies in China, Australia & Peru.
2014 also marked the start of new ventures where we began assisting a number of small regional Commercial Debt Collection Agencies in collecting debts they were having problems.
This boosts not only our reputation but provides a clear indication as to our ability to recover debts that other firms cannot with minimum fuss.
Also first choice for International Debt Collection, Federal Management are experts in recovering large debts quickly and cost effectively.
Wide range of Commercial Debt Collection services
We offer a range of services including debt purchasing to make sure that you get all the help you need to collect on your debts. We have experience dealing with clients from around the world so can provide assistance in multiple languages and currencies ensuring a smooth process every time.
Our flexible payment options allow for payments also thus increasing recovery rates.
Last year saw the renewal of our ISO9001 accreditation, the renewal of our Investors in People with a recommendation that we go for the gold standard and acquiring of the Credit Services Association’s CAI award with a fabulous 100% pass rate.
2015 promises to be an even bigger year with discussions to commence partnerships with two large PLC’s for us to manage their bad debt ledger.
We also plan to strengthen our legal team and introduce fast track procedures to ensure we recover monies as swiftly as possible, further enhancing our reputation as the UK’s leading Commercial Debt Collection organisation.
What is Commercial Debt Collection?
Commercial Debt Collection is the recovery of money owed to a company by another party, usually a customer or client. This kind of debt can arise from unpaid invoices, late payments, or breach of contract. It’s important for businesses to collect this debt as it allows them to maintain positive cash flow and continue operations smoothly.
Why use a Commercial Debt Collection Agency?
Using a commercial debt collection agency can help businesses recover debts quicker and more efficiently than if they attempted to collect the debts themselves.
Collection agencies typically have extensive experience with recovering debt, so they are able to pursue such claims with greater success than an individual or company might be able to achieve on their own.
Additionally, using an agency may also lessen the strain of having to deal with the debtor on a personal level, as all interaction can be handled by the collection agency.
Finally, debt collection agencies are also able to identify any additional assets or funds that may be available to help settle outstanding debts. This helps businesses recover more money than they would have otherwise been able to do without assistance.
Overall, using a commercial debt collection agency helps businesses of all shapes and sizes.
What is the cost for Commercial Debt Collection?
The cost of commercial debt collection will vary between agencies and there are several factors to take into account. These include the size of your outstanding debt, the difficulty in collecting it, how quickly you need the money back, and any additional services required.
In some cases, a small instruction fee may be charged for using an agency’s services, as well as a nominal commission for any successful collections. It is therefore maybe necessary to research different commercial debt collection agencies and get a clear understanding of the total cost involved before making a decision.
Some Debt Collection Agencies costs are as much as 50% of the debt value. At Federal Management, our commission rates for Debt Collection start from only 6% for larger and high value debts.
Whatever route you choose, it is essential that your rights as a creditor are respected and that the debt is collected in accordance with relevant laws and regulations. A reputable commercial debt collection agency will make sure this happens.
Can I use a Commercial Debt Collection Agency?
Yes, you can use a commercial debt collection agency to collect unpaid debts.
However, it is important to understand the process before making a decision and find an agency that fits your needs – taking into account factors such as how much you owe, what type of debt it is, who owes you money, and whether or not the debtor has already been contacted.
You should also consider the cost of using a debt collection agency and weigh it up against your options.
Using an agency can be usually quicker than other forms of debt recovery, but it may not always be the most effective solution. Depending on the circumstances of your case, you could also look into legal action as a more suitable option. It is important to research all possibilities and costs involved beforehand.