Using a Professional Debt Collection Agency
In the modern day world of commerce, using third party Debt Collection Agencies is very much common place within most major companies and organisations.
Standards within the Debt Collection industry have dramatically increased over the past 10 years and we have been at the very forefront of the massive increase in levels of professionalism in terms of Commercial and Business Debt Collection across the UK. Despite huge advancement within the industry as a whole, some still have the negative mindset that there is very little to be gained from using a Debt Collection Agency (DCA).
The major trade association for the Debt Collection industry is the Credit Services Association and they work tirelessly to improve the image of the industry, introducing guidance and frameworks for improvement. Within the past couple of years, the Financial Conduct Authority has also stepped in to heavily regulate certain parts of the industry and this has helped improved things dramatically. That said, obviously there is a minority of unethical and unprofessional companies out there but the very same can be said for any industry.
Still, despite these unprecedented industry improvements. some still worry that using a DCA will either cost the earth, tarnish their reputation and deliver no real benefit. We believe this could not be further from the truth of the matter. Within this article, hopefully we will dispel some of the negative myths regarding Debt Collection to help people make a fair and diligent judgement.
At Federal Management, we operate a completely transparent fee structure in the fact that there are No hidden fees! Our Industry low commission rates start from as little 6% for bigger debts and obviously increase for smaller debts. Invoice finance starts from around 10% so you do the maths. Our pricing policy is extremely fair and we pass on any disbursements to the debtor where possible thus minimising the cost to our clients.
Some Debt Collection Agencies do operate hidden fees and will make you liable for all disbursements therein. Some companies also will use the gimmick of No win – No Fee claiming there is no risk. No risk? Really! So the £xxxxx you are owed has no value? The risk is your debt, your reputation and your business. If something seems to be too good to be true, its because it is but you already know that.
At outset, we provide a free risk analysis of your debt or debts. If we believe there is no reasonable prospect of a recovery, we will advise you and the reasons behind our decision. Our mission is to recover as many debts as possible and we provide the free initial assessment as part of our own due diligence and to provide transparency.
Professionalism is not a word many may associate with a Debt Collection Agency. Our accreditation say otherwise. We have been ISO:9001 accredited since 2009 and have held the Investors in People award since 2010. We are also long serving members of the Credit services association and regular contributors in the media when Debt Collection is the subject topic.
As an Award winning debt collection agency we pride ourselves on delivering a bespoke service that is designing to maximise results for our clients. Every debt we deal with is treated on its own merit. We do not operate call centres or conveyor belt procedures nor do we operate a service that seeks to monetise every action or task we perform.
We are ethical forward thinking and pioneering company that prides itself on delivering a quality service that has been loved by British Businesses since 2004.
If you or your business is owed money, speak to us today about a realistic solution to a very real problem, you will be glad you did. Call our friendly New Business Team now on 0333 043 4420