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Debt Recovery Agency London – What you need to know

It is no secret that London-based businesses and individuals experience unpaid amounts of money.

This has become an increasing issue in recent years, with many having to turn to professionals to recover what is owed.

Reportedly, in the last year, the average number of unpaid invoices in the UK has increased by 217%.

Having clients that leave invoices unpaid is sadly common in daily business operations. Debt Recovery London has an important role to play in helping businesses.

Most companies have a dedicated credit control team that deals with the chasing of late payments. However, sometimes a delinquent debtor may simply refuse to pay what is owed.

For small businesses, not getting paid is a serious issue that needs to be addressed as soon as it happens.

Sometimes the act of recovering money that is owed may take up too many internal resources.

Self-employed individuals, for example, may have to choose between bringing in more money or chasing unpaid fees.

The stability of cash flow is one of the most important assets when it comes to the longevity of any business.

When unpaid debts arise, the collection process must be started quickly to ensure cash flow is not affected.

There are a variety of debt recovery London services that can be used to perform this successfully.

Debt Recovery Agency London Methods

The debt recovery London process is usually perceived to be a time-consuming task to complete.

This perception has been known to make those who are owed money abandon the debts.

Whilst the stress of such a situation can make irrational decisions more common, you should never abandon a debt.

Thankfully, there are many different ways to recover money from a debtor that is refusing to pay.

The process for recovering these should not have to feel like a challenging one to complete.

Sometimes, the simplicity of having a face to face conversation with your debtor may be enough to produce a payment. Phone calls are also effective at understanding why they have not paid.

More powerful methods, such as using Solicitors or high court action, are commonly used when the above fails.

The threat of legal action alone is sometimes enough to get the debtor to pay. This is due to the fact that this can damage the credit score of a debtor.

Despite the positive nature of these methods, they sadly come at a large cost.

Solicitors can charge up to £200 per hour on top of any court fees or legal costs that still need to be paid.

A high-cost debt recovery London service is counterproductive and may end up costing more than the debt is worth.

The most affordable, effective and hassle-free solution is found by using a professional debt recovery agency.

The benefits of using a debt recovery agency are far greater than what other methods can offer.

The Benefits Of Using A Debt Recovery Agency UK

There are hundreds of debt collection agencies in the UK, which can be a challenge to find the best.

At Debt Collection London, we help our clients by recommending the best agencies in the city.

We have produced a list of agencies that provide the highest success rates at an affordable price.

Due to the large list of agencies, each offers a range of services that will differ from the next.

Regardless of this, there are benefits of using these to recover your personal and business debts.

Industry-High Debt Recovery Agency Success Rates

One of the biggest benefits of using a debt recovery agency is the success rate.

It is a fact of life that the main result of any debt recovery is that the money is collected in full.

For example, Federal Management has an average success rate of up to 90% on all undisputed debts.

As a result, they have quickly become the UK’s leading commercial debt recovery agency.

The Most Affordable Solution Available

The cost of using a debt collection agent is undeniably the second most important aspect.

A debt recovery agency delivers a service at a lower price point than the rest of the methods available.

No creditor will want to spend a lot of money to recover what is already owed to them.

Also, a low cost does not affect the professionalism and service level provided by the agency.

This is true for Frontline Collections, who is our recommended private debt recovery agency.

Debt Recovery Companies Deliver London, Nationwide and Global Services

One of the more challenging debt collection scenarios is when it is owed overseas.

This is due to the various barriers that are involved before you can reach a successful recovery.

A debt recovery agency will be able to undertake international debt collection as part of its services.

Debt Collection London – Frequently Asked Questions