Scottish Debt Collection
Scotland Debt Collection
The collection of monies owed to Scottish based individuals and businesses has gone through something of a polar shift over the past few years. Many Businesses are now choosing an alternative route to the very costly and time consuming Legal route that used to be the only feasible recourse when dealing with unpaid debts.
Under the close watchful eye of the Debt Collection industry’s main trade association; ‘The Credit Services Association’, the levels of professionalism are higher than ever in most quarters and the level of accountability has increased tenfold.
Whilst there are still rogue operations and dodgy ‘no win – no fee’ vendors, the majority of Debt Collection Agencies are largely compliant with the code of conduct as laid down by the CSA as well as directives issued by the Financial Conduct Authority.
The fees involved in utilising the services of a professional debt collection agency compare very well with the traditional litigation route. Usually as they are heavily performance related. Most reputable debt collection firms will work on a ‘No Collection – No Costs’ basis so they represent a much more efficient method of collecting owed monies.
Once the debt has been paid, a commission fee of usually around 10-30% will be deducted from collected monies with possibly a higher commission for very old or low value debts.
Scottish Business and Commerce
Scotland is not just one of the most beautiful landscaped countries in the world, it has been voted ‘European Region of the Future’ twice in the past four years by the Financial Times Foreign Direct investment magazine. It also has more angel investments than any other country in Europe.
Scotland’s top five exports include Food and drink, Refined petroleum and Business services with the USA being the top export destination.
Debt Collection service for you or your Business
The word ‘Debt Collector’ still holds a stigma for some but that is not the case if you just apply some basic common sense.
Millions of pounds is recovered every month by Debt Collection firms across Scotland and indeed the UK.
In 2017, the Leading Debt Collection Agencies in the UK hold high levels of accreditation such as ISO:9001 and will always be members of the Credit Services Association. When choosing a Debt Collection firm to represent your interests, you need to source a top professional solution.
Typically the UK’s top choice for Business Debt Collection would be the Award winning Federal Management who have Scottish based offices in Oban (Argyll & Bute) which also hosts the UK’s leading Private Debt Collection firm, Frontline Collections.
If you or your business is dealing with the problem of somedoy who just does not want to pay what they owe you, speak to an expert Debt Collection professional today. A Professional Debt Collection Agency will always provide a free pre-action assessment of your situation along with a realistic guidance on the prospect of your debt being recovered.