Elite Small Business Debt Collection

Small Business Debt Collection

Are you the owner of a small business that has fallen victim to clients not paying invoices on time?

It should give you peace of mind to know that you are not alone, as thousands of businesses experience the need for small business debt collection yearly.

When goods or services are not paid for, this can impact the cash flow of the business and affect longevity.

Small business debt collection can often mean financial survival and is responsible for the durability of thousands of UK businesses alone.

Knowing how to recover any overdue amounts effectively can be a challenge, but options are available.

You may wish to take legal action in the county court, or try and recover this independently.

If you or your small business are looking for a debt recovery agency, then the solution is  Federal Management.

We specialise in providing cost-effective B2B debt collection solutions and empower thousands of small companies to recover their money.

Since 2004, we have provided support to many UK business owners with a low fixed cost service for debt collection.

For a free and frank assessment of your Debt Collection requirements, speak to one of our expert advisers today.

Preventing the Need for Small Business Debt Collection

It is always recommended that you have adequate credit control measures in place to reduce the risk of not getting paid.

Sometimes, sending a debt collection letter or making phone calls to your debtor is not enough to produce prompt payments.

After all, telephone calls and letters that you may send as late payment reminders to the debtor are easy to ignore.

There are several ways these can be implemented, and we have created a guide for “Business Credit Control Tips

One of these could include running credit checks on all of your customers, regardless of whether they are new or existing.

The credit rating of a business can change randomly and without warning, so it is always best to check these regularly.

Doing this may prevent some debts from being accrued in the future, but will not eradicate them all.

Payment terms are also great for preventing the need for debt collection and are common in most business credit control teams.

These terms and conditions indicate when you are to be paid, which is usually 30 days following the invoice date.

Unpaid invoices can be avoided by implementing these types of procedures within your credit control efforts.

Our specialist team of officers have hundreds of years worth of combined commercial debt collection experience.

We are all too aware of the challenges facing small businesses that have not received payment in Great Britain today.

Debt Collection Agency for a Small Business

The focus of most business owners is concentrated on acquiring new business for the company.

New business is ultimately responsible for the growth of the company and is vital to its success. Chasing those who do not want to pay for goods or services is a timely and stressful experience. Often an unrewarding task that costs in many ways.

Business Debt Collection is primarily what our experts at Federal Management specialise in. Every day we recover thousands of pounds on behalf of small businesses across the UK guaranteeing maximum cash flow.

We provide our clients with a success rate of 90% and above on average, boosting the chances of a successful recovery.

Our award-winning Debt Collection solution is guaranteed to save you time and money compared with other lesser debt collection services!

Since 2004 we have delivered our Premium Debt Recovery service helping small businesses collect what is rightfully owed.

We are also regulated and authorised by the Financial Conduct Authority. As a FCA regulated Debt Collection company, This provides a clear example of the high level small business debt collection service you can expect.

Whether you just need a single account or multiple debts to be collected, then Federal Management has the solution.

It is no secret that small business debt collection is a stressful situation to have to experience.

As such, we ensure to provide a professional solution that means existing relationships are not damaged during recovery.

For a free and frank assessment of your Debt Collection requirements, speak to one of our expert advisers today.

Commonly asked queries

What is a Small Business?

A small business is any company or organisation with fewer than 50 employees. This includes limited companies, sole traders and partnerships.

What is a Debt Collection Service?

Debt collection services are designed to help businesses recover debts that are overdue and unpaid. Our team of experienced debt collectors will work with you to ensure that the best outcome for your situation is achieved.  We use a variety of methods to try and encourage payment, such as telephone calls, letter writing and court action.

Why Should I Use Professional Debt Collection Services?

Debt collection can be a time consuming and costly process for small businesses. Professional debt collectors have the experience and expertise to ensure that your debts are recovered quickly and efficiently. They also have access to relevant data and legal resources which can help to increase the chances of recovering your debts.

Who Can Benefit From This Service?

Our debt collection service is available to businesses of all sizes, including limited companies, charities and not-for-profit organisations. It can also be beneficial for individuals such as landlords and self employed people, as well as sole traders and partnerships.

What is the cost for Small Business Debt Collection?

The cost for small business debt collection will vary depending on the size and complexity of the claim. At Federal Management, our low fees are fixed and transparent so that you know exactly what costs you need to budget for. There are no recovery fees to pay if we do not recover what you are owed.

Our commission rates start from only 6% for larger values with a nominal instruction fee payable at outset. This fee can often be added to the full sum claimed back.

Posted on March 15, 2018