Debt recovery
What types of businesses can we assist?
We work with businesses of all sizes across all industries who have challenges with slow/non-payers. Our Clients include recruitment, engineering, marketing, accountants, legal, fintechs, property companies and more, with debts ranging from thousands to £1m+
What’s the referral process? What information do you need and how long does it take?
We’re not fans of lengthy processes, so aim to keep things simple and clear – our
referral process is no exception.
Read, agree and sign a service contract (it’s not onerous but we need to ensure both us and our Clients are covered).
Provide the invoice(s) and contact details for the debt along with any other information you think would be useful
Sit back and let us do what we do best!
Where all the required information is present, the referral process including compliance checks can be completed within minutes. We can have your cases onto our system and start work the very same day.
What does the debt recovery process look like?
Our debt recovery process is based on a combination of our team’s extensive industry experience, coupled with the feedback from the ever changing business environment and specific industries we work with.
We use the full range of communications methods available to contact and engage, maximising the probability of a successful recovery.
Our debt recovery process is based on a combination of our team’s extensive industry experience, coupled with the feedback from the ever changing business environment and specific industries we work with.
We use the full range of communications methods available to contact and engage, maximising the probability of a successful recovery.
A standard cycle is anywhere between 15-45 days, with the optimum timing, frequency and volume of communications used.
If we’re unable to secure a result within this time we’ll recommend the most appropriate next steps e.g. tracing, field agents, legal action, close etc.
What does the debt recovery process look like?
Research and investigation into the customer/debtor to determine the best steps
A combination of contacts across call, SMS, email and in person where suitable
Results can be payment in full, settlement, instalments, or a recommendation for next steps
As an end-to-end service provider, we’re able to manage the process from early stage arrears through to litigation and insolvency. If tracing, field agent, legal or insolvency services are required, our expert panel of trusted suppliers deliver this via us, meaning cases are always progressing and you have the same point of contact throughout.
Our commission rates are on a no collection-no commission basis, which means we only charge when funds are successfully recovered.
They range from 5% to 25% depending on factors such as the age, size and nature of the debt. Where there is recurring debt or several cases, we can review these and provide flexible pricing that is transparent and fair.
If additional services are required (tracing, legal etc.) we typically deliver fixed price quotes which are agreed with you in advance, removing any unexpected bills further into the process. Our longstanding relationships with our suppliers means we’re offered very competitive rates, which our Clients can benefit from.
What about reporting?
- For larger and volume Clients: We provide a Client portal for you to login at your leisure and see at both a high level and in detail the status of all your cases with us. This includes the number of cases, case statuses, amount collected, latest actions and more.
- For all our Clients: We provide ad-hoc updates so you know the current case status, sums collected, and latest action. If you ever need more information or want to discuss your case further, your dedicated case manager is on hand to answer any questions you may have.
