Commercial Debt Collection & Business Debt Recovery Agency

Winners of – Best Commercial Debt Collection Agency 2024 & SME Client Service Excellence Award 2024

Corporate Debt Recovery is your Award-Winning trusted partner for efficient and comprehensive Business debt collection solutions, putting our customers at the heart of what we do.

As a professional debt collection agency, we firmly believe that if a debt is owed, it should be fully returned to the creditor without any exceptions or excuses.

Our expertise in understanding debtor behaviour and achieving successful outcomes, with over 15 years industry experience. You can rely on our efficiency in managing your debts.

Contact us today to explore the full range of services we offer and how we can specifically assist you.

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Did you know?

A substantial sum of £7.4 billion is owed to small businesses in the United Kingdom due to unpaid invoices. It is concerning to note that only 1% of these businesses have never encountered the issue of overdue payments. On average, businesses allocate two days per week to pursuing late payments, which can have significant repercussions on their cash flow and resources. While it may be uncomfortable to request payment from customers, it is crucial to address this matter promptly.

To mitigate the occurrence of late payments, it is essential for businesses to clearly outline their payment terms from the outset. Additionally, sending a timely reminder email when an invoice is due can serve as a gentle nudge for payment. In the event that payment remains overdue, it is acceptable to reach out to the customer to inquire about any potential issues and remind them of the outstanding invoice. It is also advisable to request a timeline for payment.

If email communication proves ineffective, a follow-up phone call may be more successful in eliciting a response from the customer. However, if the issue persists despite these efforts, it may be necessary to consider further actions. This could involve issuing a warning of potential supply cessation or incorporating late payment compensation and interest into the claim.

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.

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Our reviews on Google

Paula Moore
Paula Moore
Trustindex verifies that the original source of the review is Google.
Professional Company ,We had used debt collectors before with bad experience, decided to give Corporate Debt Recovery a go, so glad we did very professional, Sarah our account manager explained everything, kept us updated throughout, could not speak highly enough would recommend.
Marvin Henderson
Marvin Henderson
Trustindex verifies that the original source of the review is Google.
Thank you Free debt collection service, made it risk free and recovered the full funds.
Gary Stuart
Gary Stuart
Trustindex verifies that the original source of the review is Google.
Great Team Their team was professional, efficient, and highly knowledgeable about the debt recovery process. We managed to recover a substantial amount of outstanding debts that we thought were long gone. Corporate Debt Recovery provided exceptional service. Thank you I will use again.
Will Ashley
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.
Claire Williamson
Claire Williamson
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Fantastic Credit Control Service We outsourced our credit control to Corporate Debt Recovery as we just didn't have the time, not only did it save us money in recuitment it also increased our cash flow, which we had found them sooner.
Tom
Tom
Trustindex verifies that the original source of the review is Google.
Great Communication One of the standout aspects of Corporate Debt Recovery is their excellent communication. We were kept informed at every stage of the debt recovery process, which provided us with peace of mind.
Bazlur Rahman
Bazlur Rahman
Trustindex verifies that the original source of the review is Google.
Great service, will use Again
Ethan Rouse
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.