Debt Collectors UK – Money Owed In Birmingham
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One of the most common financial issues that businesses and individuals face is the owing of money.
There is a large list of ways in which this can happen and sadly has shown no signs of stopping.
Consumer credit debt can happen as a result of missed payments from credit cards.
Research suggests that SMEs in the UK are owed around £13 billion in unpaid/late invoices.
This is a staggering number and shows how relentless the owing of money can be.
Even the most stringent credit control system may fall victim to a debtor that refuses to pay.
If cash flow is affected by debts, this can have severe consequences upon its longevity.
It is a fact of life that all types of cash flow need to be steady in order to survive.
As a result of this, situations involving debts can create a lot of stress for the original creditor.
Thankfully, there are many ways you can undertake the collection process and get back what is owed.
We have put together a list of the methods available to help collect debts that are owed to you or your business.
Debt Collection Companies VS Other Methods
Many people that are owed money perceive the collection of this to be a challenging task. This commonly results in the unfortunate abandonment of the debt.
In reality, the successful collection of debts is a matter of having the right expertise and training.
Simple communications with the debtor, such as phone calls or emails, may be enough to prompt payment.
A reason for this is that the debtor may have forgotten to pay rather than knowingly refusing payment.
When it becomes clear that they are ignoring your communications, you need to look into other debt collectors uk methods.
The next appropriate step for this is to send a Letter Before Action (LBA). These letters state that legal action will be taken if the payment is not made in x amount of days.
The threat of legal action alone is normally enough to get the debtor to pay. Receiving letters like this can also extremely impact the credit report of a debtor.
If the above should fail to show any payment forthcoming, stronger measures should be taken.
Taking the debtor to court by yourself or a Solicitor is a positive step to getting paid. However, these are known to be extremely expensive methods.
For example, Solicitors will charge a fee for their services on top of the court fees. This can sometimes result in the process being more expensive than the debt is worth.
The most affordable (and effective) way of recovering money that is owed is by using debt collection companies.
Debt Collectors UK is the most trusted way to get back what is owed to you or your business.
Debt Collectors UK – Birmingham
Speak to a debt collection expert
Our recommended team of Debt Collection Experts are happy to help with your enquiries.
Debt Collection Companies UK – Who To Choose
At Debt Collection Birmingham, we provide our clients with the easiest way to find the right agency.
Since 2006, we have collated a list of the best private and business debt collection agencies.
Our partner agencies provide debt collection services in all industry sectors and have recovered millions of pounds worth of debts.
They provide a professional and compliant service that aims to not jeopardise any existing relationships. This is achieved by complying with the Fair Debt Collection Practices Act.
If the debtor has absconded and tries to move away, our partners are able to trace them. All it takes is having a phone number to pinpoint the whereabouts of your delinquent debtor.
Our Recommended Dept Collectors
Due to the large number of debt collectors uk, it can be challenging to choose the best one.
We aim to deliver a hassle-free referral service for our clients to ensure the utmost peace of mind.
Our recommended Commercial Debt Collection agency is Federal Management.
For Consumer Debt Collection requirements, we recommend using Frontline Collections.
They are also able to assist with overseas debts by undertaking international debt collection.
Both of our recommendations provide an industry-high success rate of up to 90% on undisputed debts.
This demonstrates the calibre of service that is provided by their debt collection experts.
For more debt advice on how you can recover money that is owed, contact our experts today.
Debt Collectors UK – Birmingham
Speak to a debt collection expert
Our recommended team of Debt Collection Experts are happy to help with your enquiries.
Debt Collection Birmingham – Frequently Asked Questions
Who Are Debt Collection Birmingham?
We began in 2006 as part of the UK Debt Collection Bureau network. We act as a referral agency for Birmingham’s best debt collection companies.
How Much Does It Cost To Use Your Services?
Our service is free and takes the hassle out of you having to approach numerous debt collection agencies.
Why Should A Debt Recovery Agency Be Used To Recover Money Owed?
When encountering a bad debtor, you will see much success by hiring a Debt Collection Agency that has expertise in such matters.
Should I Choose A Debt Recovery Company Or A Solicitor?
We think the simple fact that some of the UK’s largest law firms outsource their Debt Collection to our partners provides the answer to that one.
What Success Rates Do Your Partners Offer?
Our partners have recovered as much as up to 90% of undisputed debts. This will maximise the potential for a successful recovery thus guaranteeing a maximum return on your debt.