Debt Collection Agency Costs
What Are Debt Collection Agency Costs?
Frontline Collections has offered the lowest commission rates for debt collection since our opening in 2005. We are widely regarded as the UK’s leading private debt collection agency. With this in mind, we take every step to ensure our service is the best available.
As with any service-based solution, the subject of cost must be taken into account. There are also many debt collectors to choose from. Many of these have different pricing structures, and it can often be confusing when looking at multiple options.
For example, some agencies will operate on a fixed-fee model, whereas others will offer their services at an hourly rate. There are also various hidden costs to look out for, such as drip pricing.
Some agencies also specialise in specific areas of debt, such as commercial debt. This might mean that their pricing model is more suited to businesses rather than other types of clients.
Debt collection agency costs are not the only factor you need to take into account when making a choice. However, this is not to say that it is not important, but it is always better to consider every element.
Benefits of Frontline Collections
As well as recovering owed money, there are a number of benefits to instructing Frontline Collections. For example, our service is fully comprehensive and nothing is overlooked during the collections process. All debt enforcement methods such as debtor visits, emails, letters and phone calls are performed properly by qualified experts.
As well as this, there are a number of cost benefits to using our services. Many other agencies operate on expensive pricing models. For example, some law firms will require a retainer which is priced in the thousands of pounds. As well as this, they will require hundreds of pounds per hour for the time they spend on the case.
Some debt collection agencies will quote extremely low amounts. Whilst this is initially appealing, it is often a tactic used to secure clients and lock them into lifetime contracts.
Low Commission Rates
Many alternatives required a high cost before the collection process can even begin. This can make it difficult for private individuals and small businesses to get what they are owed. At Frontline Collections, our commission rates begin from as low as 8%. This makes our debt collection services as affordable as possible.
Free Pre-Action Assessment
We understand that being owed money can be very frustrating and stressful. Seeing your bank account grow smaller whilst your debtor’s pocket grows larger will always prompt strong emotions. Many people are unsure if their debt can even be collected at all.
As part of our service, our debt collection experts will perform a free pre-action assessment of your case. This comprehensive check will assess how likely it is that the debt can be recovered. As well as this, it will also provide information with regards to costs.
Some agencies will only perform checks like these after a client has given them money already. If the debt cannot be recovered, the case cannot proceed and the client has effectively wasted their money. Frontline Collections provides this assessment free of charge, giving our clients a good idea of their recovery prospects before work has commenced.
Debt Collection Agency Costs – Instructing Frontline Collections
Do you have a debt that has been causing you problems for a while? Are you a small business owner with a backlog of unpaid invoices? If so, Frontline Collections can help.
Our service is award-winning, and we are approved by the Credit Services Association (CSA).
Take the first step towards recovering your debt. Speak to one of our friendly debt collection experts now for your free pre-action assessment.
Debt Collection Agency Costs – Frequently Asked Questions
How much do collection agencies charge to collect debts?
Every case of debt collection is unique and as such must be priced individually. Our debt collection experts will provide a free pre-action assessment of your debt along with a quote. This will provide a cost, as well as an appraisal of the debt itself.
Can a collection agency charge a fee?
Yes, it is normal for a recovery agency to apply a fee for debt collection services. This is normally on a commission basis. Frontline Collections has some of the lowest commission rates in the industry, starting from as low as 8%.
Is it worth paying a collection agency?
Yes, instructing a debt recovery agency is more beneficial than alternative enforcement methods such as expensive court fees. Enforcement agents will take every step necessary to recover a debt. For the client, they are able to spend time working on value-based tasks instead of collecting the debt themselves.
How do I get a price for debt collection?
The best way to get an accurate cost for a professional debt collection service is to speak to an agency. Frontline Collections does not charge for providing a quote, and even offers a completely free pre-action assessment of your case.
How long does it take to recover a debt?
This depends on the unique circumstances of each individual case. Our debt collection agents have years of experience in recovering every type of debt. Speak to our friendly debt collection experts now for more information.