Can I Use A Debt Collection Agency?
Can I Use A Debt Collection Agency?
Both small businesses and private individuals find themselves in the position of being owed money every day in the UK.
There are many reasons why this can happen which can factor into the collections process.
For example, private individuals may have loaned money to a friend or family member who is refusing to pay it back.
Those who are self-employed can sometimes find themselves in the position where they have completed work for a client who then does not pay them.
In the case of a small business, customers who do not pay can become a very big problem.
Money people owe you could be vital to keeping the business running, and you must take all matters about debt very seriously.
Regardless of the circumstances surrounding the creation of the debt, you should collect it as quickly as possible.
There are several options to help people do this.
For example, some people choose to attempt to recover a debt by themselves.
Another option is by instructing a debt collection agency.
The question is, which option is the best to choose?
In this article, our debt collection experts will answer the question “can I use a debt collection agency?”…
…and which is better – recovering a using a debt collection agency or independently collecting a debt.
Can I Use a Debt Collection Agency – What Are My Options?
If someone owes you money, using a debt collection agency is the best option.
If you are unsure if using a debt collection agency is something that you can do, here are a few points that might help.
Anyone can instruct a professional debt collection agency.
This is regardless of whether they are a business or a private individual.
There are many specialist debt collection agencies, and doing some research will give you a few good options.
We specialise in recovering debt for both businesses and private individuals.
Our debt collection experts have recovered thousands of debts since our opening in 2005.
As such, we are experts in every industry sector possible.
One of the best parts of our service is that we offer a completely free debt assessment.
During this, one of our debt collection experts will examine your debt and the circumstances surrounding its creation.
This assessment exists to discover if the debt can be recovered – if it can be, then there is a very good chance that we can enforce it.
The benefit of this is that our clients get a clear impression of if their debt can be recovered or not.
Independently Collecting a Debt – Is It a Viable Option?
When people first face the issue of someone owing them money, most will seek to recover the money themselves.
The perception of this option is that it is the quickest and cheapest way to recover your money.
In the case of private debt, many people will not realise that using a debt collection agency is even an option.
In some cases, recovering a debt independently can be a viable and effective solution.
This may work if the debtor has forgotten to pay what they owe to you.
In this case, a polite reminder is enough to prompt payment.
In most instances, collecting a debt independently is far more expensive and time-consuming than using a third party.
For example, most people are not familiar with the laws surrounding the collection of a debt and what you can and cannot do to complete this.
To learn these skills can take years.
At Frontline Collections, our in-house debt recovery agents deliver the best service possible.
If you wish to recover an unpaid debt alone, then you must have a similar level of expertise.
Without this, not only are you putting your time and money at risk but if you breach a debt collection law without knowing, you can be held accountable.
Ignorance is not an excuse and a determined debtor who does not want to pay will use every tactic possible to avoid doing so
For businesses and those who are self-employed, the time required to learn these skills and then later to collect the debt can cost a lot of time, and money.
Indeed, it may be tempting for many businesses to write the debt off once it has cost more than it is worth to recover.
Whilst this is understandable, you should never abandon a debt under any circumstances.
As well as this, you must also invest the time necessary to chase and enforce the debt.
During this process, you will need to send letters, emails and make phone calls to the person who owes you money.
Having a proper debt collection procedure and process in place is crucial to success…
…something which in itself represents a significant time investment.
In some cases, recovering a debt alone is a viable option.
For the majority of the time, it costs far too much both in time and money to be a scalable and permanent solution.
As a result of this, you may be asking yourself…”can I use a debt collection agency?”.
In most cases, using a debt collection agency is a preferable decision.
Can I Use a Debt Collection Agency? – The Benefits
Using a debt collection agency is the best solution if someone owes you money.
Professional debt collection experts will handle your case.
They will ensure that they recover your money as quickly as possible.
Frontline Collections, for example, is the UK’s leading private debt collection agency.
Our expert debt collection agents take every step possible to ensure that they handle your case in the most professional manner.
This also comes at a low cost, with our commission rates beginning at 8%.
Frontline Collections has an average recovery rate of 90% on all undisputed debts.
This means our service is one of the most effective in the country.
The benefits of these qualities mean that for a nominal cost, we will enforce and collect your debt in a swift and professional manner.
We will resolve all matters as amicably as possible, leaving future business opportunities as a viable option.
How to Use a Debt Collection Agency
If you are asking, “can I use a debt collection agency?”, the answer is usually yes!
If you are considering using a debt collection agency, the best way in which to do so is to simply contact them.
If you are owed money, speak to one of our friendly debt collection experts today.
Can I Use a Debt Collection Agency? Frequently Asked Questions
Can I use a Debt Collection Agency to collect Private Debts?
Yes, we are the leading solution for collecting Debts owed by individuals. As the No1 for Private Debt Collection in the UK, we have helped thousands of People and Businesses collect what is owed to them.
Does your Debt Collection Agency help individuals as well as Businesses?
We have helped thousands of Individuals recover what is owed to them. From Personal loans given to unpaid invoices for services provided, we can help
Does your Debt Collection service have A Minimum Debt Value that you will Collect?
We can usually deal with Legally valid debts from £250+ but sometimes help with smaller depending on the circumstances and volume.
Where are Frontline Collections based and do you offer Nationwide Debt Collection services?
Our Head office is located in Manchester and we have Collection offices Nationwide. Manchester, London, Scotland & Lancashire as well as a Nationwide Network of Collection Agents. We provide a truly Local and Nationwide Debt Collection service.
What is the cost to use your services?
We operate the Lowest Commission rates from only 8% for Personal Debts. We provide a Free Legal assessment to ensure the debt is legally valid and collectable. Each debt is taken on its own merit. Our service is also Low Fixed Fee.