Business to Consumer Debt Collection
Business to Consumer Debt Collection can take different forms and guises. Firstly, there is Private and Personal Debt Collection. This caters for debts that are owed personally by an individual. They can range from Unpaid Vets Fees to an invoice that has not been paid. The actions taken to recover Private Debts are very different that consumer debts.
Types of Consumer Debt Collection
Traditional methods of pro active private debt collection will include unlimited actions. These can include investigations of the debtors financial circumstances. Letters, Phone Calls, Texts, Emails and even visits. A more bespoke collection approach is applied to maximise recovery.
Consumer Debt Collection mainly categorises debts that are owed to blue chip companies. These will typically be Mobile Phone Companies, Finance Companies and Utility firms. They tend to operate more call centre based contact activities.
Call centre debt collection activity is very minimal and consists of limited processes. It is less bespoke and focuses more on number crunching. The Agencies normally involved in this type of mass debt collection do not apply bespoke debt collection methods. This results in a lower overall collection rate.
Debts that are founded on a credit agreement are regulated by the Financial Conduct Authority. They have set guidelines on the practices that a Business to Consumer Debt Collection Agency employ. Regular reports must be sent to the FCA detailing activities taken. They can also deal with issues arising from breaches of those guidelines.
Then there is also B2C Debt Collection on behalf of local authorities and the government. This includes council tax, DVLA penalties, parking fines and unpaid Tax.
Millions in unpaid consumer debt is collected on a weekly basis in the UK. It is a booming industry that is set to grow further. Some Agencies even purchase old book debt and try to collect for a profit.
Private Debt Collection for Small Businesses is a valuable resource. With court fees going up and increased compliance, it can be a minefield. Chasing unpaid invoices for services and goods provided is time consuming and stressful. Working with a reputable and proven Private Debt Collection Agency is a must.
Leading Private solution
Frontline Collections helps thousands of Sole traders and Self Employed get paid. Small Businesses such as dental practices or Vets turn to us for help. As a B2C Debt Collection Agency we can help recover unpaid fees and invoices.
A bespoke debt recovery service will support your business. Here is a link to some simple tips to try and effect a debt recovery yourself. If all fails then we can provide a bespoke Debt Collection service for your needs. A Professional Consumer Debt COllection service will recover what is due. A pragmatic and tailored strategy is always applied.
If you are seeking a Business to Consumer Debt Collection service, call us today for help. We provide a Free analysis of your needs and can offer the very best solution if appropriate.