What Does Working With a Debt Recovery Agency Involve?
Like many companies, at some point you may face the difficult terrain of unpaid invoices. Without a full understanding of the legal recourses at your disposal, pursuing these payments can be time consuming and risks placing further strain on the relationship with your client.
When you hire a debt collection, or credit collection service, a team of regulated experts will take this burden off your hands. A creditable commercial debt collector takes time to understand and protect your existing client relationships, treating each debtor as an individual and appreciating that every unpaid invoice comes with its own set of circumstances and challenges.
FinCred will appoint a reputable collection service provider on your behalf, that will work in partnership with all parties to create a debt recovery path to meet the needs and requirements of your business.
What are the Benefits of Debt Recovery?
There are a multitude of advantages gifted to those who utilise commercial debt and credit collection services:
- Control: FinCred works in partnership with debt collection services that offer a variety of programmes, providing agency to you and your business in choosing the path that meets your exact needs.
- Expertise: Debt recovery specialist agencies have an in-depth understanding of the industry laws and regulations. They can collect on monies owed faster and more reliably than businesses that pursue debts in-house.
- Flexibility: Some collection services charge a flat fee, others a commission and some offer no-win, no-fee terms.
- Time: Our accredited partners manage the process from start to finish. You don’t need to spend time chasing debts, leaving you free to focus valuable resources elsewhere.
- Cash Flow: Write-off fewer invoices and increase your earnings.
- Peace of Mind: Payments on overdue invoices that previously seemed uncollectable can now be recovered.
Types of Debt Recovery
Here at FinCred, we broker commercial debt collection services through our debt collection partners that are bespoke to your businesses’ individual requirements:
- Single debt recovery.
- Multiple debt recovery.
- Corporate debt recovery.
- Debtor tracing.
Some services may refer to digital debt collection. This is a more efficient and cost-effective method that focuses on digital tools to automate parts of the debt collection process through email and SMS. Decisions on how to pursue debts can be made with better data accumulated through digital channels.
Contact FinCred, Your Broker for Quality Debt Collection Services
Get in touch with us to arrange an obligation-free quote for commercial debt collections services. Our commercial debt collection agency partners provide a cost-effective alternative to chasing the debt yourself or commencing legal proceedings.
Contact FinCred and take advantage of our debt recovery agency partners today.