Debt Collection for Freelancers in the UK
According to the Office of National Statistics (ONS), as of March 2017, there were over 4.7 million people in self-employed work in the UK alone. This represents a whopping 15% of the total workforce. Freelancing has fast become an attractive option to many due to the flexibility it affords.
Just as with any other type of business, non payers are a possibility and in that scenario, even freelancers need a recognised path for recovering funds that are owed. In some ways, a self employed worker needs help even more than larger business as the effects of not being paid can be that much more marked with an individual.
As a freelancer, you’re the CEO, the sales force, the work force and the credit control department, so if you do not tackle the problem of late or non payers, no one is going to do it for you……or are they?
It is very easy to take it personally when somebody owes you money. We all know that – This in itself can cause stress and becomes anti-productive in terms of time spent chasing somebody who who is trying to avoid payment.
If you have already put numerous measures into place to maximise clarity and minimise late payment, such as regular reminders and prominent payment terms and you’re STILL not getting anywhere, then it might be time to talk to a professional in the collections sector.
Whatever your working circumstances, the paradigm of a modern Private debt collection Agency is one that cannot be ignored for efficacy and lack of stress associated. You can use such a firm as an extension your own credit control that is triggered once a client becomes a debtor who does not look they have any intention of paying.
You also do not need to worry about methods used, as any attempts to recover your funds will always be made in an ethical and lawful way. They are acting on your behalf, so they have no interest causing you problems with your reputation.
Working, as they often do, on a performance related basis ie They will deduct a commission of between 8-25% of the sum owed when monies are collected. The percentage will often be a sliding scale dependant on the amount owing. Obviously the smaller the amount, the higher the percentage. This is payable usually in addition to a small instruction fee which can be added to the principal sum.
Working with a Professional Debt Collection Agency also acts as a safety net to catch the revenue you might otherwise miss out on if you do not pursue what is owed to you.
The most vulnerable workers, when it comes to debtors, are those who work alone on a freelance basis. Being paid or not can literally mean having enough to live on or not.
Don’t become a statistic. Talk to a friendly Professional debt collection agency and protect your future today.
Frontline Collections specialise in acting on behalf of hundreds of Freelancers across the United Kingdom and indeed, the World. From journalists to photographers to designers, Frontline Collections have the experience and the know how to recover your money as quickly and as professionally as possible.
We can deal with any freelancing matter and along with our sister company Federal Management who are Business Debt Collection specialists, we form the most formidable Debt Collection Agency alliance in the United Kingdom.