Over recent years, the ways Businesses in Birmingham to recover outstanding debts have shifted massively. That’s because most Small Businesses and SME’s have turned their back on the traditionally expensive route of court action. Most Birmingham based businesses are now turning to Professional debt collection agencies and the services they provide.
The perception of what a debt collection agency is, has changed immeasurably. Two decades of transition have very much changed the debt collection industry to what it is today. This is largely due to the work by the Financial Conduct Authority (FCA) and the Credit Services Association. Instruct a reputable, modern debt collection agency in Birmingham today and you will find a cost-effective solution to recovering unpaid invoices.
Driven By Results
Comparatively speaking, the debt collection agency option to recover outstanding debt owed to you is far cheaper. Working with professional debt collectors in Birmingham will likely be conducted on a no collection, no commission basis. They are results driven and will likely charge a small instruction fee to collect your debt, if it is collectable.
Normally commission rates can vary from 20-30% but some services are much lower than that. A cheap Debt Collection service is unlikely to be cheerful so always do your research.
Birmingham – The Commercial Hub
There are few cities in the UK that are the size of Birmingham. Its location in the Heart of West Midlands holds a large number of Businesses. Birmingham is a vibrant hub of commercial activities. Small Businesses and Large corporates operate side by side.
It is natural where there is a large amount of commerce and transactions, debt is likely to form. Businesses should always have partnerships with professional solid suppliers. Debt Collection in Birmingham is no exception and should be treated with respect.
There is a number of Professional Debt Recovery Agencies in Birmingham that have a fantastic reputation. In the Commercial Business sphere, Federal Management are the famous choice for Commercial Debt Collection and International Debt Collection. Frontline Collections are the favored choice for Personal Debt Collection for things like unpaid private school fees, vets fees, dental fees etc
Antiquated & Outdated Ideals
There’s no place in the current Business world for operators who conduct their affairs with anything other than complete professionalism. If a debt collection agency conducts themselves in a unprofessional way, it can potentially damage your brand and reputation. This is why it is imperative you work with a professional company who can deliver results at a fair price.
There’s also compassion and understanding used by modern debt collection professionals, as they understand that people sometimes fall on hard times through no fault of their own, so they’ll do everything they can do to facilitate an agreement to ensure the debt is paid.
The antidote to cash-flow issues
If you or your company are experiencing cash flow problems because of customers have not paid, then we would highly recommend talking to an accredited debt collection agency. When deciding on which agency to use, we’d also recommend asking a few questions regarding their authorizations and accreditations. This article has already mentioned two of the best Debt Collection solutions in the country, namely Federal Management and Frontline Collections.
As long as you do a modicum of due diligence, when using Professional Debt Collectors in Birmingham, you’re likely to experience a swift and professional resolution for a small cost.
If you are a small business owner that is owed money, It’s a bit of a no-brainer really so take action.
Commercial Debt Collection
Federal Management Ltd – Midlands Office, Office 1, Izabella House 24-26 Regents Place, Birmingham B1 3NJ Tel: 0333 043 4423 Website: www.federalmanagement.co.uk
Personal Debt Collection
Frontline Collections – London office, 2nd Floor, 1-5 Clerkenwell Road, London EC1M 5PA Tel: 0333 043 4425 Website: www.frontline-collections.com