Debt Collection Leicester

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Leicester is an industrial powerhouse, with its main industry sector being engineering.

The city is the second-largest economy in the East Midlands, with a GVA of £23 billion.

There are over 369,000 individuals that live in Leicester with a large number of businesses to complement this.

Due to the 42,000 businesses that operate in Leicestershire, this has resulted in the rise in debts that occur.

It is an issue that has become more common in recent years for businesses and individuals.

This has presented the need for a dedicated Debt Collection Leicester solution.

The most common scenarios where debts can arise are:

  • A client not meeting payment terms and leaving invoices unpaid.
  • A customer not paying for goods or services.
  • A tenant not paying rent and leaving the property.
  • An employer that has underpaid its employees.

For businesses and private individuals, having someone owe money can form a rather stressful situation.

It is no secret that the lifeblood of any business operation is its cash flow.

If something affects one’s cash flow, this can have severe consequences on the finances of the organisation.

This is especially important for those who are self-employed, as they may not have a dedicated system that deals with the collection of debts.

Ensuring your finances aren’t jeopardised can be make-or-break for the sustainability of a bank account.

There are various options available if someone owes you in Leicester.

Knowing where to turn when you need Debt Collection Leicester is vital…

…and choosing the wrong methods can end up costing you lots more in the long term.

In this article, our team of experts have put together our recommendations and guidance on the options available.

Debt Collection Leicester – Got Any Questions?

Get In Contact With Our Experts Now!

Our recommended team of Debt Collection Experts are happy to help with your enquiries.

Debt Collection Leicester – What Are The Options?

As mentioned above, there are many options available for Debt Collection Leicester.

However, some of these options have their disadvantages and so are not recommended.

For example, we have experienced clients that have shown interest in leaving the debt.

This is due to them not wanting to damage the relationship with the debtor.

This should NEVER be the case as why should you let someone get away with owing you money?

Much like the above method, trying to independently recover a debt is also not recommended.

This is due to the time-consuming and resource wasteful nature of this exercise.

You should be using these precious resources to carry out beneficial tasks such as growing your business.

It is worth mentioning these two options, as you should know why not to use them.

A method of Debt Collection Leicester that is common is by using Solicitors.

Solicitors have been a popular method for all legal proceedings for hundreds of years.

Despite this, there are a few things to note down if you have intentions of using them.

They are expensive and have been known to operate on price drip policies.

This means you will more than likely end up paying more than you should be…

…which is unacceptable given the circumstances.

Not only this, but the average successful recovery rate from a Solicitor isn’t high.

The best method for Debt Collection Leicester is by using a professional debt collection agency.

Debt Collection Leicester – What Debt Collection Agency Should You Choose

At Debt Collection Nottingham, we will only recommend you the absolute best collections agencies for your needs.

Our partners have experience collecting Commercial, Private and International Debts across the world.

When someone owes you money, you need only the best service possible.

Commercial Debt Collection Leicester – Federal Management

In a business-to-business working environment, it is completely normal for clients to miss payment dates.

However, when this occurs regularly and they start to leave invoices unpaid, it is time to taken action.

Our recommended agency for Commercial Debts is Federal Management.

Federal Management has collected debts since 2004 and have built a high calibre portfolio throughout the years.

They operate an impressive average recovery rate of up to 90% on all undisputed debts.

Their low commission rates that start from as little as 6% complement this.

They are the only agency in the UK that the Financial Conduct Authority (FCA) regulates.

They have recovered £100 million pounds worth of unpaid monies for businesses in almost every industry sector.

When clients stop paying their invoices, you will be glad you chose Federal Management to collect your unpaid debts.

debt collection leicester

Private Debt Collection Leicester – Frontline Collections

Private individuals face debts on a daily basis, with the self-employed being a large majority of these.

These types of debts can come from all walks of life and may come from those who are closer to home than you would like.

This includes Friends, Family Members and Partners that could owe you money.

For Private Debt Collection Leicester, we recommend Frontline Collections.

Over their long history, they have provided a service like no other that is operated on a “No Collection = No Costs To Pay” basis.

They have carried out their leading services across a wide variety of sectors.

The most common sectors that they provide for are:

They are regulated by the UK Debt Collection Bureau and the Credit Services Association (CSA).

They are also a ‘Gold Preferred Supplier’ with the Independent Schools Association (ISA).

International Debt Collection Leicester – Frontline Collections

When your debtor is based in another country, this will result in your having an “International Debt”.

It is completely normal to think that, as your debt is in another country, this may be unrecoverable.

Thankfully for you, this is not the case as there are experts on hand to assist with your overseas debt.

Our recommended International Debt Collector is Frontline Collections.

They offer an award-winning worldwide service and have an expert team that is trained in dealing with foreign debts.

Some of the benefits of using Frontline Collections are:

  • FREE initial assessment & investigation
  • Proactive and Professional approach
  • High Debt Collection Success rates
  • International Network of trusted Agents

Don’t allow the difficulties of an overseas debt overwhelm you, contact Frontline Collections!

Low-Value Debt Collection Leicester

If you have a debt that is of a low amount, it is worth knowing about the “Minimum value” that debt collection agencies operate on.

This is when the collection of debt costs more than the debt itself is worth.

When this situation occurs, we recommend that you visit Legal and Trade.

They provide a service that anyone can use, no matter the size of the debt.

They will also carry out the same levels of service you would receive from the top agencies.

Debt Collection Leicester – Got Any Questions?

Get In Contact With Our Experts Now!

Our recommended team of Debt Collection Experts are happy to help with your enquiries.

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