Money Owed To Me – Instructing A Debt Collection Agency
Money Owed To Me – Instructing A Debt Collection Agency
Regardless of whether you are self-employed, a small business owner or a private individual, if you are owed money you are going to want to know how to recover it if there are any issues with repayment.
This can be a frustrating task to carry out independently and can be extremely time-consuming if the wrong methods are chosen.
Research shows that around 57% of small businesses in the UK have issues with customers who are not paying, with a 23% increase in this over the last few years.
As a small business, self-employed individual or a private individual, having a someone owes you money can restrict you financially and impact your cash flow. The importance of this in the current economic difficulties we face is crucial.
The reason for your debtor not paying may be understandable, as they could be facing financial difficulties themselves, so it is always recommended to get in contact with them before any other methods are used.
All correspondence with the debtor must always be kept friendly and professional. Going about a conversation in the wrong way could make future communications more difficult, and in the case of business debts, can compromise future opportunities.
You may be able to come to conclusion agreement with the debtor, such as with a part-payment. If they are still not cooperating then this is when other methods will need to be used.
Choosing the wrong method when it comes to the recovery of money owed is worse than choosing no method at all.
The recommended method for all forms of debt recovery is to instruct a Professional Collection Agency that specialises specifically in Private and International Debt Recovery.
Money Owed To Me – What To Do When Someone Owes You Money
Instructing a Debt Collection Agency for Private Debts
A Private Debt Collection Agency such as Frontline Collections should always be the first port of call when it comes to recovering a debt.
At Frontline Collections, we have a demonstrated history with collecting Private Debts in line with our client’s requirements.
We are a highly reputable company that specialises in delivering the UK’s leading Private Debt Collection solution.
Some Of The Key Benefits Of Using Frontline Collections’ Services:
- On Avg. 90% Recovery Rate on Undisputed Debts
- High Collection Rates and Low Commission Rates
- Members of the Credit Services Association
- Over 15 years industry expertise in most private sectors
Frontline Collections are able to provide a truly nationwide service thanks to our local offices based in strategic locations across the UK. If you are owed money by a customer and the debt is legally valid and collectable, we can collect it.
We operate the industries lowest commission rates, and every collection instruction that we receive is processed and actioned within 24 hours ensuring a hassle-free and quick solution.
Our Personal Debt Collection rate is way beyond that of the average Debt Collection Agency and 15 years of Private Debt Recovery success gives credence to that fact.
With our expert team that has 100+ years of combined experience, we have assisted in the recovery of debt for a wide range of organisations including:
- Dental Practices
- Nurseries and Childcare Facilities
- Vets and Equine Practices
- Private Education Establishments
- Trade Associations
- Private Membership Clubs
- Insurance Companies
- Law Firms
- Builders and Tradesmen
We were recently awarded “Gold Supplier Status” by the Independent Schools Association which makes us the UK’s first collection agency to be awarded this title.
Every case regarding unpaid school fees is dealt with by a Debt Collection expert. A proactive and professional strategy is applied to every case that Frontline Collections deals with, ensuring every measure is taken to collect unpaid debts.
The No1 solution that we provide to all of our clients ensures a cost-effective, hassle-free and quick delivery.
Instructing a Debt Collection Agency for International Debts
Alongside our Private Collection service, we also provide one of the leading services amongst debt recovery agencies for the requirements of International Debt Collection.
International Debt Collection can seem a lot worse than it is due to the distance of the debtor/debt in question.
We have had many customers across the years share extreme worry when it comes to overseas debts, thinking that they are unrecoverable.
This is not the case and our expert team of international debt collectors ensure all overseas debts are resolved swiftly, professionally and we recover the maximum amount possible.
Whether it is Argentina or Australia, our expansive operations cover most of the world and we have collections agents situated across the globe for maximum delivery.
We have collected millions of pounds in Overseas Debt Collection’s in that such is our proven track record of success.
Why choose us for your International Debt Collection:
- Fully inclusive Low-Cost service
- FREE initial assessment & investigation
- Proactive and Professional approach
- High Overseas Debt Collection Success rates
- International Network of trusted Agents
Our reputation for delivering a professional and trustworthy service has grown throughout the years and provides a clear statement of intent for people looking to use our revered International Debt Collection Agency solution.
There are various factors to consider when it comes to collecting an international debt, such as time differences, language barriers and various rules and regulations related to the particular country.
Our industry experts at Frontline Collections have all of the training and experience required to battle these barriers, leaving no stone unturned.
If you are owed money by someone who is based abroad, get in contact with our team today as to not prolong the collection of your money.
Recovering Debt From A Company – Frequently Asked Questions
What makes Frontline Collections better than other Private/Consumer Debt Collection Agencies?
High Recovery rates, Low Commission rates and with no hidden costs! – But if you want to peel the layers back a bit:
We are results-driven and have a philosophy of principle over profit. We also believe in quality, not quantity so every case we deal with is managed on its own merit and proactively pursued.
We are extremely ethical and therefore do not operate hidden fee policies, fee earning processes nor deduct spurious costs from collected monies. This is why we provide a free pre-action assessment of your debt, to measure the probability of collection.
What are your commission rates?
Our commission rates start from as little as 8% and are normally between 8%-20% dependant on the debt value etc with a maximum ceiling of 30% if the debt value is low.
How long will it take to collect my debt?
It is impossible to say but we rest assured, our key goal is to collect it as quickly as possible.
We usually aim to get at least a token payment within 7-28 days, if not the full balance but every case we deal with is different and has to be viewed on its own merit.
What is your background?
Frontline Collections has been successfully recovering debts since 2005 and have collected tens of millions of pounds over this period. Our reputation speaks for itself.
We are serving members of the Credit Services Association and our sister company is Federal Management, the UK’s top Commercial Debt Collection Agency.
Are there any disbursements or initial fees to collect my debt?
If your debt has been approved for Collection Action then it is important to know that Frontline Collections provides the only fully inclusive Debt Collection service around.
In addition, we operate the lowest commission rates starting from 8% – we do request an Instruction fee is payable initially and we can add this to the debt where possible.