Debt Collection for the Transport Industry
Debt Collection for the Transport Industry
Are you a small business owner or a self-employed individual within the transport industry that has not been paid? A large number of people experience this ongoing issue and need a dedicated solution.
Frontline Collections is the answer to this. With an extensive history of experience providing debt collection for the transport industry.
The UK’s transport industry is dominated by small and medium-sized enterprises, spanning across road, rail, air and water networks. This is frequently linked to the logistics industry, however, they both operate differently.
Transport focuses on the movement of goods or people, whilst logistic companies manage goods from the manufacturer to the end-user.
Business transactions within the transport industry are notably fast-paced, resulting in payments becoming late every now and again. Although this is a common event in the day-to-day running of any business, a clear resolution is needed.
The transport industry is no stranger to financial issues, however, especially following the events of the COVID-19 pandemic. The population was advised not to use public transport services, which saw a decline in the need for these services.
In particular, small businesses and self-employed individuals rely on a sustainable cash flow to survive. When financial problems arise and customers fail to pay, this can put its longevity in jeopardy.
With this in mind, a debt collection service with experience in recovering money in the transport industry is required.
What is Debt Collection for the Transport Industry?
Regardless of your job role within the transport industry, you have a right to be paid for the services you provide.
Workers in this specific industry will work long hours, more often than not, behind the wheel of a vehicle. This results in not having any time to chase the payment of debts which may lead to its abandonment.
Accounts receivable teams can be employed to intercept any financial issues before they develop.
Thorough accounts receivable management practices will ensure that payments are made on time and in a consistent manner. Even if the owing of money can be prevented, nothing can stop a customer who simply refuses to pay.
The payment of any transport fees is frequently within 30 days of the invoice being sent out.
If a customer has failed to produce the funds in this timeframe, a professional debt collection agency should be your only thought.
Debt Collection for the Transport Industry – Frontline Collections
In recent years, using a debt collection company to recover unpaid transport industry fees has become the most popular option.
The number of benefits it provides to business owners and individuals across the UK has made it a favourable choice.
It allows the daily running of businesses to be focused on, with the knowledge that the money owed is being recovered.
Frontline Collections have provided the leading private debt collection service across the country since 2005.
Our debt collection teams have a history of providing local, national and international debt collection for the transport industry.
Why choose us to undertake debt collection for the transport industry?
- Average success rates of 90% and above on all undisputed debts.
- Low commission rates from as little as 6%, resulting in a cost-effective service.
- Professional debt collection methods mean existing relationships are not jeopardised.
- We are members of the Credit Services Association (CSA).
- Tracing service for absconded debtors.
Running a business can be a challenge at the best of times and when money is owed this can make things even harder.
If you have not been paid by a customer, get in contact with one of our highly experienced debt collection officers today.
Debt Collection for the Transport Industry – FAQ
What should I do if my transport business has not been paid?
If you have chased for payment and this has failed to produce the funds, further action needs to be taken. We recommend using a debt collection agency such as Frontline Collections.
Is a debt collection agency better than a solicitor?
Solicitors are notorious for charging a lot of money and can take a long time to achieve any result. A debt collection agency is the most favourable option for you or your business.
Is it expensive to use a debt collection agency?
We provide our clients with a cost-effective solution by offering the lowest commission rates in the industry. This means that collection costs are kept to a minimum.
Can a debt collection agency help businesses AND individuals?
Yes, we can provide debt recovery services to both businesses and private individuals.
Will it take a lot of time to recover the money I am owed?
The timescale of the debt collection process can change based on the circumstances of the case. We have the experience to be able to recover your debts as quickly and efficiently as possible.