In Focus Commercial Credit


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This face-to-face action is usually the difference between a successful


recovery and an unsuccessful one.


Protect the relationship A debt-recovery company should not appear to be heavy handed in their approach, as this then causes issues in relation to the relationship being maintained. Ensure you choose a company whose ethos is to protect that relationship, meaning business can continue going forward.


Proper communication There is nothing worse than telephoning a company to check progress and updates on your current instruction, only to be passed from one case handler to another. Ensure, when you choose a debt recovery


or enforcement company, that you pick one that promises to give you a dedicated account manager who will see your case through from start to finish. This way you will not have to explain your case each time the telephone is answered by a different operator. This also means that you will get the most


up-to-date information from your account manager, directly keeping you in the loop as to what action has been taken and what action will be taken going forward. Choose a company that is also happy for


you to speak directly with the debt-recovery agent too, after all, they will ultimately be the person responsible for the success of the monies recovered. Having contact with the debt-recovery


agent yourself will always ensure that the information you share with that person will never be diluted by their office.


Easy online instruction forms Make sure the company you instruct to collect your debt has your ease and time in mind. Long gone are the days of piles of paperwork and sending things through the post with a risk of getting lost. Should your current company work this


way, look to one for the future, with easy access to electronic forms on their website for a paperless service that provides you with paperwork and updates electronically. Not only should such a form be available


to be completed simply, but supporting information should be uploadable easily at the same time.


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Choose a company that is also happy for you to speak directly with the debt recovery agent too, after all, they will ultimately be the person responsible for the success of the monies recovered


This not only prevents loss, but also saves


time when it comes to recovering your monies that are rightfully owed to you, as soon as possible.


‘3D secure’, 24-hour payments It is of great importance that the company you instruct to collect outstanding invoices can take a payment by any means, in order to recover your monies as fast as possible. It may come as a surprise that many firms


only take certain types of cards and some do not take cards at all, so restricting a debtors’ means of paying the monies they owe. When instructing, make sure the company


has the means to take all payments possible, or you may find that you are waiting a long time for your money.


Same day remittance to clients There is nothing worse than having to wait for your money – that is why you instruct a debt recovery or enforcement firm in the first place.


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We have found many companies, once


they have received your money in cleared funds, holding onto it for five working days or more before remittance. We have found certain companies


which only remit to clients on a monthly basis, so you are waiting even longer for your money; up to a month after it has been recovered. Some companies will offer you remittance


within 24 hours of receiving the monies in cleared funds. Do some diligent searching and make sure


you instruct a company that remits your money to you as fast as possible, once they have it in cleared funds. If you are not careful, you may be waiting a lot longer than you originally thought.


Advice line Do you have a burning question when lying in bed at night, bad payers keeping you awake and you are not sure what to do? There are some 24-hour, 365 days firms


out there who are more than happy to answer your questions or queries at any time, day or night. Would your current enforcement or debt-


recovery company pick up the telephone at any time to answer your questions, or help you decide which options are available to move your current situation forward? If your answer to this is no, then there are


some 24-7, 365-day companies out there, with a world of knowledge and experience who can offer you the very best advice and guidance, any day, anytime. CCR


March 2018


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