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 effective debt collection

debt collections
client services

credit control
insolvency

Tel 01733 755001 Fax 01733 755003 email office@effectivecc.co.uk

Recovering your money
 
invoice factoring
collection request form
 


In just a few steps, you can find out how to improve your cash flow by getting the money you are owed.

What can Effective do to recover your money?

Debtors are more likely to respond to approaches from a professional debt collection agency rather than yet more letters from the invoicing company. So by asking us to become involved in collecting the debt, you greatly increase your chances of being paid.
At Effective we have the right blend of experience, knowledge and legal expertise to provide all the services you will need. For example, managing director Robert Partridge is a lawyer with over fifteen yearsí experience in debt collection. This means you can access the skills of a lawyer without the burden of solicitorsí fees.

So how do we recover your debt? Typically, we begin with a letter to your debtor, indicating that we are acting on your behalf and confirming the amount outstanding. In many cases, the debtor will pay the debt in accordance with our written request.

During this Ďpre-legalí collection stage we will also contact the debtor by telephone to establish an important line of communication. This contact seeks to secure the payment, but also provides valuable information to help us determine whether issuing legal proceedings would be appropriate and how the debt might be collected.

If the debtor does not pay then we can escalate the collection process, after taking your instructions. You can find out about this process, and about how much it costs, by visiting our fees page.

Our charges for the recovery of your money are based predominantly on a commission basis, with no commission ever payable unless monies are collected. As well as giving you a risk-free feeling, it also acts as a great incentive to us so you can be sure we will do everything possible to collect your money.

So get in touch with us to find out more about how we can help improve your cash flow. Visit the contact us page for details.

You can also fill in the collection request form if you have a debt you want us to start collecting now.



What can you do to recover your money ?

Here are five ways to reduce the amount of unpaid invoices:

1. Know your customer. Make sure you know the legal capacity of each new client (ie sole trader, partnership etc.), and all relevant addresses, contact details etc. Create and use a simple account application form.

2. Get a credit check. Credit reference checks are relatively inexpensive, so itís often a worthwhile investment.

3. Start your collection procedure as early as possible. The sooner you begin the process of collecting your money the greater your prospects of recovery.

4. Donít repeat: escalate. Make sure each step you take is an escalation in the recovery procedure, not merely a repeat of a previous action.

5. Donít wait too long before bringing in the experts. Sometimes you will carry out all of the above to no avail, in which case asking a professional debt collection agency to help will be necessary.

 

 


(c) 2004 Effective Credit Collections Ltd.