Commercial Debt Collection & Business Debt Recovery Agency

Winners of –

Best Commercial Debt Collection Agency 2024

SME Client Service Excellence Award 2024

Corporate Debt Recovery are your Award-Winning trusted partner for fast and effective Business debt collection solutions, rated “Excellent” on Trust Pilot, we put our customers at the centre of everything we do. We offer a full range of debt collection services to help businesses recover unpaid debts and improve credit control.

As a debt recovery collection agency, we believe if a debt is owed it should be paid in full with no exceptions or excuses.

Our expertise in understanding debtor behaviour and achieving results, with over 15 years’ experience in the industry. You can trust us to manage your debts. The debt collection process is complex and has many stages, we deal with it all professionally and efficiently to get your outstanding debts managed.

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Our Comprehensive Debt Recovery Services
Include:

Debt Collection Services:

UK Debt Collection

Bulk Debt Recovery

International Debt Collection

Legal Services:

County Court Judgment (CCJ)

High Court Enforcement

Credit Management Services:

Outsourced Credit Control

Debtor Tracing

Debt Purchase

Credit Checking

Late Payment Fees

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Business Debt in the UK

7.4 billion is owed to small businesses in the UK due to unpaid invoices. Only 1% of these businesses have never had an issue with late payments. Businesses spend 2 days a week chasing late payments which can have a big impact on cash flow and resources. It’s uncomfortable to ask for payment from customers but it needs to be done.

To avoid late payments happening in the first-place businesses need to clearly outline their payment terms from the start. Implementing good credit control can also reduce the risk of late payments. Sending a reminder email when an invoice is due is a gentle nudge for payment. If payment is still overdue it’s okay to reach out to the customer to ask if there’s an issue and remind them of the invoice. You can also ask for a payment timeline.

If email doesn’t work a follow up phone call may get a response from the customer. But if the issue persists after this then further action may be needed. This could be a warning of supply cessation or late payment compensation and interest added to the claim. The agency also helps businesses recover debts, minimising cash flow impact and maintaining relationships with the customer.

FAQs

Commercial debt refers to the financial obligations incurred by one business entity to another for the provision of goods or services. Small enterprises are especially susceptible to cash flow disruptions resulting from delayed payments. Consequently, the implementation of effective debt recovery strategies is a crucial component of prudent business planning.

The debt collection process commences when creditors initiate measures to recover outstanding payments. It begins with gentle reminders of missed payments and may escalate to legal proceedings. Lenders adopt varying approaches in this regard, primarily differing in the timeliness of their actions.

Individuals may incur debt to cover personal living expenses, while businesses may take on debt to finance their operations. Commercial debt, also known as B2B debt, refers to debt obligations between businesses.

A debt collection agency specializes in recovering outstanding debts that have not been paid as per agreed terms. These agencies play a crucial role in the financial ecosystem by helping businesses manage their cash flow and minimize financial losses. By focusing on outstanding debts, debt collection agencies ensure that companies can continue their operations without being heavily impacted by unpaid invoices.

Yes, creditors have the right to dispatch debt collectors to your residence or Business. Customarily, the debt collector will initiate contact through written correspondence or a phone call.

The Limitation Act (1980), the duration for pursuing an unpaid invoice is up to six years. Maintaining consistent communication with the debtor is crucial. In the absence of any contact or engagement within the preceding six-year period, the collection of the debt might become challenging.

When an account shows signs of financial difficulties or is in financial trouble, our approach is to first conduct a thorough assessment to understand the extent of the issue. Recognizing the importance of maintaining a positive working relationship, we prioritize open communication with the customer to explore all possible solutions. For accounts in financial trouble, especially those with high-risk debts that are beyond terms, we focus our efforts on finding a resolution that considers the financial health of both parties. Our goal is to address and manage these challenges effectively, ensuring a fair and constructive outcome for all involved.

accreditations & Memberships

Debt Collection Awards

Aug24012_Corporate Debt Recovery Limited_SME Midlands Enterprise Awards 2024- Winners Badge v1

Aug24012_Corporate Debt Recovery Limited_SME Midlands Enterprise Awards 2024- Winners Badge v2

Our reviews on Google

     EXCELLENT  
     Based on 10 reviews 
    
 
 
   
 
 
        
   Becci Seal 
 
 
 
 Trustindex verifies that the original source of the review is Google. Easy to do Business with
We have been working with Corporate Debt Recovery for the last month, we moved our collection process over to them, very simple to do and results have been fantastic.
  
 
       
   Paul Chappell 
 
 
 
 Trustindex verifies that the original source of the review is Google. First time with a debt collector after months of being given the runaround - Rob took time to explain each stage, constantly kept me updated, supported me through all stages of the process and brought home the cows to roost (or whatever the saying is). Right impressed; a fascinating and enjoyable experience. Hopefully I'll never need to use a debt collector again, but if I do, it will be Rob and his team without hesitation. Boom!
  
 
       
   Natasha Saunders 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great service
Our invoice was over a year old and getting nothing from our customer, within hours and debtor was on the phone arranging a payment plan with corporate Debt great service  will be using again
  
 
       
   Andy Martin 
 
 
 
 Trustindex verifies that the original source of the review is Google. Professional
Great service received from corporate debt recovery never used a collector before found them to be just on it, very knowledgeable and professional
  
 
       
   Margaret Simmons 
 
 
 
 Trustindex verifies that the original source of the review is Google. Friendly, professional service would recommend
  
 
       
   Phil Matthews 
 
 
 
 Trustindex verifies that the original source of the review is Google. Saved us a fortune on moving our credit control to them, it's early days but the results have been fantastic
  
 
       
   James Cameron 
 
 
 
 Trustindex verifies that the original source of the review is Google. Used these guys a few times, great service
  
 
       
   Will Ashley 
 
 
 
 Trustindex verifies that the original source of the review is Google. Free Debt Collection - Amazing
Instructed Corporate Debt Recovery to collect over 20k debt, which cost us nothing to use them as they collected the charges off our old customer.
  
 
       
   Bazlur Rahman 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great service, will use Again
  
 
       
   Ethan Rouse 
 
 
 
 Trustindex verifies that the original source of the review is Google. We had lost all hope of recovering our old bad debtors, one last try we instructed Corporate Debt Recovery and we are glad we did, not only did they collect the debt they were able to collect late payment fees, would recommend.