Why Instruct a Debt Collection Agency to Recover your Debt?
19th March 2020
If your business is owed money by a client, you may think that there aren’t compelling enough reasons to partner with a debt collection agency; after all, you have in-house staff who can try and chase unpaid invoices, so why use a professional? And won’t using debt collection agencies damage your relationship with clients?
However, if you have overdue invoices and don’t know what your next move should be, or the best attempts of your in-house staff are using valuable time and not producing the results you want, then there are several reasons why partnering with a debt recovery agency would benefit your business.
It can be tricky to know when the right time is to seek expert help, and for many businesses, it can seem like a daunting step to take. Understanding how debt collection agencies work and the benefits they can bring may help to alleviate some of those fears.
What are the Benefits of Using a Debt Collection Agency?
You’ll Benefit From Their Experience
The most obvious benefit of using an established and reputable debt collection agency is the experience that they bring. Their staff will have had a lot of experience dealing with debtors who are reluctant to pay what they owe.
They will be able to establish the validity of any excuse given and find a way to overcome the problem. Just as you are experts in your field, debt collection agencies are experts in theirs, and that experience and expertise mean that they are much more likely to recover the debt.
At DCBL, we have a vast amount of experience in debt collection, so whatever the situation, we will know the best approach to get the right result for you.
They Can Protect Relationships
For many clients, payments are not chased as they should be because of the fear of damaging a relationship with an existing client and risking future business with them. This is where it does pay to use an established agency that will get to know your client relationships and do all they can to protect them.
For long term clients who have previously been good payers, it could just be a short-term issue that can be resolved with a little common sense and sensitivity.
Having a third party act on your behalf could also remove some of the embarrassment that your clients may have in talking to you about why they are late paying.
Even where you don’t wish to continue to do business with your debtor, it always pays to maintain cordial relationships within your industry. Using a debt collection agency can stop the situation from escalating into an argument you may later regret.
At DCBL, we understand how vital your client relationships are, but we also know that you need to be paid. We are friendly and polite and do all we can to preserve that relationship while recovering the money you are owed.
They Get Better Results
DCBL has the highest recovery rate in the debt collection industry. Our dedicated debt collection specialists work tirelessly to make sure we recover your debt in an ethical, compliant, and hassle-free manner.
We understand that no two cases are ever the same, and tailor our debt recovery approach to achieve the best result possible for your situation. Our personal and human approach allows us to answer any queries our clients have straight away, keeping them up to date at each stage of the enforcement.
Our debt collection professionals are fully trained in mediation to quickly settle disputes and prevent the need for potentially costly and lengthy court proceedings. You are much more likely to be paid if you use experts to collect.
You will also find that, with most debtors, you will only have to resort to using a debt collection agency once. As soon as your client realises that you are willing to take external action over late payments, they will take your payment deadlines much more seriously.
They Give You Peace of Mind
If you use an established, ethical and reputable agency like DCBL, you will have the peace of mind that your reputation will be protected. You can feel sure that all collection techniques will be fully compliant, and our understanding of the law and your rights will be used to ensure a successful outcome that is fair and professional.
It also means that you have access to advice and support on how to progress with more stubborn collections before the need to resort to court proceedings, saving you both time and money.
Is Your Business Owed Money by a Client?
If you have a client who is late paying invoices, but you aren’t sure the best path to getting paid, call DCBL on 0203 298 0201 or fill in our online contact form for a free consultation today. We offer both pre-court debt recovery and CCJ Enforcement so whatever your situation is we can help. Our experts will advise you on the best course of action and the likelihood of recovering your money.