Debt recovery: The steps we take to get your bills paid

This year we’ve added a number of new clients to our list in areas such as independent vets and the steel industry.

While it’s true that businesses looking after poorly hamsters and kittens don’t instantly have a great deal in common with those grinding out girders for suspension bridges, they and others of our clients tend to have similar initial questions, so we’ve compiled a FAQ of points anyone in need of help with debt recovery might need to ask in advance.

1. What is your reputation and experience?

Collecting overdue accounts for business is a specialised area and requires legal and financial acumen allied to softer skills, ie, getting on with people of all sorts. Our team includes all three and we’ve been in business for30 years

2. What types of debt do you specialise in recovering?

We mainly recover debts for businesses, ranging from independent schools and SMEs to big businesses, both in the UK and internationally.

3. What are the costs involved and how is the fee structure set?

No two debts are the same. Each client deserves an individual service, rather than to be treated as just another fee-payer on the conveyor belt. We treat our clients fairly and will always discuss the next action with you, avoiding running up unnecessary fees and providing a breakdown of fees once a case is concluded. And we don’t charge for giving our initial advice.

4. What methods and tactics do you use to collect outstanding payments?

Some people worry that ‘debt collector’ equates to ‘a big bloke banging down a door’. In fact, our methods focus on payment (what are the amounts outstanding?), process (making phone calls, sending polite emails to debtors) and people (always remembering we are dealing with human beings, being polite and respectful). As it says on our Principles page, “We believe that the essence of good practice in business is trust.”

5. How will you communicate with us and report on progress?

We know that good communication is vital and we give all clients regular updates by phone or email so they know their case is moving. We encourage clients to ask us questions atany point.

6. What is the success rate and can you provide testimonials?

Difficult to give an overall figure as success means different things – some creditors need all of their money back plus costs while others are happy to agree a repayment schedule. But we have a lot of repeat business and the testimonials on our Reviews page demonstrates our clients’ satisfaction. We’ve had some big successes this year. To give one example, in the first six months of this year, we recouped just under half a million for one company alone from a number of different debtors.

7. How will using your services affect our relationships with customers?

This is something clients, and independent schools in particular, often ask as they are worried about alienating other parents or customers if they appear to be too heavy-handed in chasing late payments. With schools and all clients, we are keenly aware of the sensitivities. We always stress, for example, that mediation and then agreeing a payment plan is often a much better way forward for all parties than court action.

8. Where can we find out more?

The Services section on the website tells you what we offer in areas including debt recovery, credit control and credit checks while Principles explains the values that underpin our work.