Your customer previously said they would pay your invoice, now they aren't responding, what can you do?
Your best option is to employ a business collection agencies agency who understands the laws and legalities to quickly recover your money. They know the best ways to deliver the right results for you.
Here are the great things about hiring a debt collection agency
- Specialist Skills & Knowledge
When the electrics need mending in your home you use an experienced electrician hopefully. So the same applies here! Use experienced experts in the industry to offer the best likelihood of recovering your cash.
- Time Saving
Our team focus on recovering your debt quickly for you, whilst you give attention to other key responsibilities in your business. Keeping you updated and calling you for decisions is an integral part of what we do.
If a staff member usually takes in the role to gather a Personal Debt Collection for you, using a business collection agencies agency will free their time and energy to concentrate on their main role.
We use specialist software to track, verify and locate your debtor and our software systems manage functions effectively. Monitoring websites keep us informed with what’s happening with your customer, so that people know if any changes are created with Companies House, ie a credit card applicatoin to attack off their company.
- Rapport building
Some individuals say that using a business collection agencies agency may ruin a relationship with your customer. However, I could only refer to the true statistics of what happens with this customers and their debtors.
Our clients recommend us to friends and business partners, so much so, that 80% of our new business originates from referrals. Plus, the companies who we chase for repayments often ask us to do it to them too! With professional functions and techniques appropriately in place, connections are not always ruined.
Bespoke documents, legal characters and processes play a key part in our high success rate. Most companies that don’t specialise with debt collection won’t have them immediately available.
There are numerous laws and legalities that regulate and govern your debt collection industry, so knowing what you can and can’t do is important.
Debt collection organizations know what the legalities are and by using one to recover your debts, it minimises your legal risk associated with the recovery of your cash.
- Cost Effective
It’s common knowledge that a lot of debt recovery agencies work on a “no win no price” basis. When legal late repayment fees and interest are put into the debt, restoration charges for you are reduced.
- People Pay Faster
Bringing in an authorized shows your debtor that you will be serious which alone usually makes them more inclined to pay your invoice.
- Dispute & Query resolving
Often disputes between your customer and debtor will lead to awkward discussions and a breakdown in communications. However, using qualified alternative party mediators, who specialise in commercial disputes, means you are more likely to get your cash and settle out of courtroom.
Using a debt recovery agency enhances your chances of getting paid. Our current success rate for business business collection agencies stands at 90.4%.
There are several benefits of finding a business collection agencies agency & most importantly we have been here to help you.