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We assist your business in reducing all or part of your overdue debt. There are many reasons why companies find that their overdue debt is increasing; this can seriously drain your company’s cash flow and stretch your resources. Amongst other factors that contribute to this situation is the possibility that your business may have grown and you have been unable to keep pace with your collections, or perhaps lack the specialist staff.
When you experience this problem, there are various solutions:
You can recruit the services of a temp to assist with the recovery of monies outstanding. As we all know, recruitment can often prove to be a lottery. You may not know what calibre of employee you are recruiting. You have to train the recruit to understand how your business works and also how to use your computer system. You also have to pay for this service, regardless of how effective its impact is upon your collections.
You can try to use resources that you have in-house to help rectify the problem. The danger here is that by stretching your resources, you may lose focus on the front line of your collections – i.e. those debts that are quickly becoming overdue. This can have serious consequences as your debts age further. It is an established fact that the older the debt is, the more time is required for its recovery. It is also imperative that your business enforces your company’s payment terms as soon as possible. Late payment is a cancer within your business that debtors may perceive as vulnerability and hence abuse your credit facility.
We can offer a ledger-clearance service that enables you to focus on current accounts, whilst we recover the monies owed to your business. We charge a percentage on the debt collected on a no-win no-fee basis. Please note that with this service you do have the option of our team contacting your debtor under your company name or if required under the name of Financial Recoveries Ltd. The cost for our ledger clearance service is dependent on the age of the outstanding ledger. To discuss this requirement further please contact our sales team by clicking here. To provide you with a guide for this service a Bulk Instruction of £250,000, with the debt age between 6 – 18 months then our rate for our no win no fee service would be between 10 - 15% of the funds collected. |
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Licensed under the
Consumer Credit Act 1974 Number 619761
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Data
Protection Registered
Number: Z8121398
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