Debt Collection for Construction Companies
29th September 2022
Many businesses in the UK construction sector will experience a payment dispute or outstanding debt from time to time, presenting a need for debt collection for construction companies.
In recent years, the need for such services has shown no signs of declining, which is unsurprising given the construction sector is one of the largest in the UK economy.
Working within a growing construction firm can be hardworking at the best of times and when multiple invoices turn into unpaid debts this can add to that workload.
Most construction companies will have a dedicated credit control team to prevent such issues arising by credit checking potential clients. However, this doesn’t always mean that they are safe from a payment reminder turning south.
DCBL have over 20 years of experience and expertise recovering unpaid invoices for construction businesses.
Construction Debt Recovery – A Growing Concern
As the construction sector in the United Kingdom expands, material and energy expenses also increase.
Therefore, construction companies are obligated to minimise the occurrence of late payments so as not to disrupt cash flow.
It has been reported that around 26% of companies within the industry have clients that do not pay on time.
In a perfect world, clients would always pay their invoices on time and without any problems or justifications.
Thankfully, for those that may need construction industry debt recovery, there are options available.
Before we look at the options of debt recovery for construction companies, we need to look at why invoices go unpaid.
There are a multitude of reasons why construction company clients may not pay invoices, such as:
- Forgetting the payment date of the invoice (which is why payment reminders are so important).
- Cashflow pressures that have resulted in not being able to pay.
- Late payments from their own customers meaning they cannot pay on time.
- Simply ignoring the invoice as they never had intentions to pay in the first place.
Even the most reliable client with a good track record of paying can suddenly turn into a problem for your business.
That client that you have worked with for years can, suddenly and without warning, disappear leaving you with a business debt that needs paying.
Construction firm owners have a few choices they can make – recover the debt independently, start legal proceedings or use debt collection specialists.
A professional construction debt recovery agency is needed for when construction contracts are not obeyed – DCBL are the answer to this.
Trust DCBL for Construction Debt Collection
Recovering unpaid construction invoices through an expert debt collection agency greatly increases your chances of a successful recovery.
Construction company CEOs have enough on their plates than to worry about delinquent clients that refuse to pay what is owed.
Specialist debt collectors ensure that the amount of unpaid invoices reduce, and action plans are put in place to ensure these are eliminated in the future.
By instructing DCBL to recover your high-volume construction debts, we will save you both time and money and allow you to focus on what matters (your business).
Our unique brand awareness and reputation, paired with over 20 years of experience, has resulted in a proven 25% higher recovery rate of debt than that of our competitors.
Due to our unique group structure, we provide a full, seamless construction debt recovery journey from first reminder letter to high court enforcement.
If one of your construction debtors have disappeared and you need to locate them, our expert debtor tracing service will come in handy.
We locate hundreds of thousands of debtors in both business and personal debt circumstances for our clients.
In cases where you require international debt collection, we can also assist to provide a recovery solution for overseas unpaid debts.
Leave the credit control measures to the construction industry’s expert debt collection agency.
Take action today to build back your cash flow by contacting our debt collection experts.
If you have already obtained a CCJ, contact High Court Enforcement.
FAQ: Debt Collection for Construction Companies
I’m a plumber with unpaid invoices. How can I get my money without losing future business?
We use a respectful and ethical approach to ensure your clients understand the importance of settling their accounts, preserving your reputation and future work prospects.
As an electrician, what should I do if a customer disputes the work quality and refuses to pay?
We have over 20 years of experience handling the recovery of unpaid invoices, validating the quality of your work, and ensuring you’re compensated fairly.
How can roofers ensure they’re paid on time for large projects?
If you encounter delays, DCBL can step in to remind your clients of their obligations in a professional and effective manner, encouraging prompt payment without damaging your working relationships.
Can gardeners use debt collection services for small-scale jobs?
No matter the job size, you deserve to be paid for your hard work, and we’re here to ensure that happens.
What’s the best way for bricklayers to handle late payers?
DCBL offers solutions to manage and recover late payments effectively, deterring them in the future and helping you maintain a stable business.
Are there any legal solutions for construction disputes leading to withheld payments?
We work in conjunction with our sister company, DCB Legal, to create a seamless One Solution.
From sending legal notices to pursuing court action, if necessary, we’ll help you understand your options and take the right steps to recover what you’re owed.
Will hiring a debt collection service like DCBL affect my reputation as a tradesperson?
We handle debt recovery with the utmost professionalism and discretion, aiming to resolve issues amicably and maintain the good standing of your business in the community.
