In Focus Commercial Credit Making the right choice


How can you be sure that you are choosing the right partner agency to collect or enforce your debt?


Dean Stevens Company director, Collect My Debt dean@collectmydebt.co.uk


Taking on a new collection or enforcement agency will, clearly, be a major decision for any creditor, so there are a few different characteristics that you can look for in a potential partner that may give you an edge


No collection, no fee When looking for a company to assist you with the collection of unpaid invoices and business-to-business debts, ensure you utilise the benefit of finding a company that will not charge you for attempting the collection. There are many firms that will charge the


client a fee whether they are successful in collection or not, why should you put yourself at more financial risk, throwing good money after bad? Certain firms deal with debt collection


work on a ‘no win, no fee’ basis, where the only chargeable cost to your company is a commission on monies recovered. This puts the client at no risk or exposure


to cost. If successful, you recover your monies owed with very little cost to you, and, if unsuccessful, you have lost nothing.


So why sit on your unpaid invoices when you have nothing to lose?


A 24-hour company Many recovery and enforcement companies have office hours on a 9.00am to 5.00pm basis. As we know, emergencies are never just within those hours. You could be faced with an issue, or have important information to share, at any time of the day. If you have received communication, either


a payment or disputing the debt, from a debtor, even at 11.00pm, then you need to ensure that you are always prepared for the unexpected. There are few firms who operate on a 24/7


basis, who are contactable by telephone or e-mail 24 hours day, 365 days of the year. So you simply call or e-mail and your issue will be dealt with by a professional who carries years of industry experience and knowledge. For all these reasons, ensure your debt


recovery or enforcement company operates 24/7 across 365 days to prevent any loss or down time when the unexpected happens.


If you have received communication, either a payment or disputing the debt, from a debtor, even at 11.00pm, then you need to ensure that you are always prepared for the unexpected


Free attendances No cost to client debt recovery attendances can allow the opportunity for mediation, resulting in payments before the need to take any court action. During the debt- recovery process, most companies will use letters and telephone calls in the hope this will trigger communication and a payment from the debtor. While, in many cases, this may work, these approaches often fall on deaf ears, or are easy to ignore, leaving debt-recovery companies stumped, unable to move the case forward. There are, however, options available to


upscale part of the debt-recovery process by sending experienced debt-recovery agents to the premises to meet with the debtor or company; the agent can then mediate the situation on the client’s behalf. This discussion often resolves the debt


with the individual or company, leading to its resolution and, often, full payment to the client on the same day. Many firms charge for this service, if you


choose carefully, there are firms that include this in their debt-recovery process at no cost to the client.


March 2018 www.CCRMagazine.com >> 15


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52