Debt Collection Agency in London
Debt Collection London
The recovery of monies owed to London based individuals and commercial enterprises has gone through something of a polar shift in recent years. Companies are now choosing the alternative route of Debt Collection in London as opposed to the expensive and long drawn out legal path. The expensive legal route used to be the only recourse for unpaid debts in London but that is not the case no longer.
Financial Conduct Authority
Under the guidance of the Financial Conduct Authority (FCA), specialised debt collection agencies in London have become a viable choice for companies. Businesses and individuals are looking to avoid lengthy recovery processes. The legal route can also be costly too when you factor in expensive solicitor and court fees.
The image of the debt collection industry has changed significantly over the past couple of decades. The stigma that once existed in employing the services of a debt collection agency have long since disappeared. This process has not occurred by accident either. The UK’s debt collection industry has made a concerted effort to become much more friendly, professional and more mainstream.
The Credit Services Association has been instrumental in collaborating with the FCA to ensure a more Professional and compliant debt collection sector.
The fees involved in instructing a debt collection agency in London compare extremely well with the traditional litigation route, as they are performance related. Most reputable debt collection firms will work on a ‘No Collection – No Costs’ basis so they represent a much more efficient way to recover owed monies.
Once the debt has been paid, a commission fee of usually around 10-20% will be asked of the client, with any variation being based on factors such as value and age of the debt in question. It really can be of benefit to work with a Professional firm of Debt Collectors in London. As when sourcing any legitimate service provider, you should ensure that they are compliant and lawful.
Capital of Commerce
London is not just the capital of England, but also one of the largest centres of industry and commerce in the world. As you would expect, there are a number of professional and licensed debt collection agencies in London. Logically, they have achieved this popularity by getting their work done quickly, professionally. Additionally, this is done by conducting themselves in a customer/debtor friendly way.
In order for a company to grow and blossom financially, it is imperative they have the correct resources. When customers do not pay then a professional debt collection solution will be of massive benefit to any London based business. Small Businesses and LArge Businesses all suffer with the same issues but on different scales.
No Agency staff member of a reputable Debt Collection firm would employ unlawful or scare tactics. A Professional firm but fair approach should be present in the course of their work. Any unprofessional action that would bring a client’s reputation into question can be tolerated. Actions such as these have no place in the modern marketplace in any industry and certainly not in the debt collection sector. Most collections officers are certainly ‘to the point’, but are also friendly, reasonable people who understand that anyone can fall on hard times.
Leading Debt Collection Agencies in the UK hold high levels of accreditation. When choosing a Debt Collection Agency, you should be applying due diligence as a firm that appears to be good to be true usually will be.
Typically the Number One choice for Business Debt Collection in London would be the award winning Federal Management. For Private Debt Collection London matters, peoples first choice is Frontline Collections. Working with a Professional Debt Recovery Agency is essential to the exercise being a financial and commercial success.
If you or your business is encountering cash flow issues as a result of non-paying customers, you could do a lot worse than employ a quality debt collection firm in London. They are quick, efficient and increasingly the most viable option for companies across the United Kingdom.
Due diligence should be applied. As with any service, cheap is not cheerful. You also need to consider your reputation and good standing. A Professional firm of debt collectors in London will bring financial rewards to you or your business.
A Professional Debt Collection Agency in London will always provide a pre-instruction assessment to measure the realistic prospects of a recovery and advise you of the basis for their findings.
Our London based Debt Collection Office supports our Operations across London itself and right across the UK. Frontline Collections also provides International debt Collection agency services too.
Full details of our London Office: Frontline Collections – London Office (Debt Collection) : 2nd Floor, 1-5 Clerkenwell Road, London EC1M 5PA Telephone: 0333 043 4425