Share this post!

Debt Collectors UK – Unpaid Fees In Liverpool

It is no secret that a large proportion of Liverpool businesses and individuals are owed money.

As reported in the Liverpool Echo, around £12,000 is lost every year due to unpaid invoices.

This is a staggering number and shows how relentless and real the issue of unpaid fees is.

For small businesses and self-employed individuals, this can be especially damaging to cash flow.

Ensuring that cash flow is steady and stable will help the survival of the business in question.

Serious implications can be made if this is damaged, which is why all debts should be collected quickly.

However, the collection of debts may be hindered by the stress that is caused by the owing of money.

Throughout history, many have perceived the debt collection process to be more hassle than it is worth. The debt in question is often abandoned as a result of this perception.

It is important to know that, regardless of how painful the situation is, you should never abandon a debt.

In reality, the debt collection process is a matter of having the right expertise and knowledge to perform successful recovery.

There are also ways in which the original creditor can try to get the debtor to pay the debt.

Some may try and recover this alone, however, this may waste resources which we do not recommend.

We have put together this debt advice to outline the various methods available, as reviewed by our debt collectors UK.

Debt Collectors UK – Which Methods Are Available?

Collecting money that is owed should not have to feel like a challenging task to complete.

Failing to collect a debt on time or at all may result in the need for insolvency action.

Considering that debts are a common issue, there are many debt collection services available to deal with this.

Even the most secure credit control measures may fall victim to a debtor that manages to slip through the cracks.

Although some payments may remain unpaid, there may be genuine reasons for this. Making phone calls to your debtor to discuss this may be enough to produce the payment.

It is unfortunate that debtors may sometimes refuse to pay and ignore your communications.

When this happens, stricter measures must be taken to ensure that you are paid the money that is owed.

For example, an appropriate next step is to send a Letter Before Action (LBA) to the debtor.

This will indicate that court action in the county court will be taken against the debtor if this is not paid.

The threat of any legal action is usually enough to make the debtor pay as this could damage their credit rating if not.

Depending on the severity and size of the debt, using a Solicitor to recover this may be the next choice.

There is a high number of law firms in Liverpool, which is a reason for the popularity of this method.

Despite this, using a Solicitor to recover a debt is going to be an expensive task to carry out.

In some circumstances, they can charge up to £200 per hour which is on top of any court fees that need to be paid.

This can end up costing more than the debt in question is worth, which is counterproductive.

A cost effective and hassle-free solution is required for debt recovery services. This can be achieved by contacting professional debt collectors UK.

Debt Recovery Firms UK – Which Agency Should You Choose?

In the United Kingdom alone, there are hundreds of debt collection agencies to choose from.

Whilst most of these will offer nationwide services, it is beneficial to use a local agency.

At Debt Collection Liverpool, we help our clients find the right agencies for their specific needs.

Since 2006, we have formed a list of the best agencies that offer leading success rates at an affordable price.

Our recommended commercial debt recovery agency is Federal Management.

Its debt recovery experts have recovered millions of pounds worth of business debts yearly.

They are authorised and regulated by the Financial Conduct Authority (FCA) to recover debts under the Consumer Credit Act.

For debts that are owed by private individuals, such as friends or customers, we recommend Frontline Collections.

Frontline Collections are the UK’s No1 private debt collection agency and have operated since 2005.

They are experts in recovering unpaid fees and debts for individuals in all private sectors.

In addition to the service that they provide, they also carry out international debt collection.

This is a powerful service to provide, as overseas debts are known to be the hardest to collect.

Both of the partners that we recommend provide an on average recovery rate of up to 90% on undisputed debts.

The service they provide focuses on maximising the recovery whilst minimising the cost overall.

If you are owed money in Liverpool, you need to speak to the top debt collectors UK.

Debt Collection Liverpool – Frequently Asked Questions