How A Debt Recovery Agency Can Get Your Invoices Paid Faster
A debt recovery agency is a lifeline to many businesses.
With late payments for small businesses hitting a two-year high and against the backdrop of soaring company insolvencies there’s never been a more critical time for businesses to successfully recover their unpaid invoices.
As a business there are a few things to weigh up when deciding whether to action a case with a debt recovery agency:
- How efficient is their process and will it help your business get paid quickly?
- What is their track record like?
- Do they have experience in your industry?
- Can they recover unpaid invoices from overseas?
- Are their fees competitive enough to make it worthwhile?
- Is there a fee to pay even if they fail to recover what you’re owed?
We understand that business owners may be a little sceptical when deciding whether to get a debt recovery agency involved.
However, is it worth holding out for your customer to pay you if they haven’t been forthcoming with payment so far?
With the current climate businesses cannot afford to wait around for payment anymore, it’s time to act. And sometimes, outsourcing to a professional debt recovery agency is the only way your customers will listen and make payment.
Wondering when the right time is to outsource to a commercial debt recover company? Take a look at this article!
The power of outsourcing
The power of outsourcing your debt to a debt recovery agency works wonders when it comes to getting your debtor’s attention.
This is how they know you’re serious about recovering what you’re owed and your debtor will realise the consequences if they continue to avoid you.
We see time and time again when we first make contact with debtors there is a knee-jerk reaction and they panic. We have clients who have been chasing invoices for months after their customers make excuses or simply go “missing”.
Then we make first contact and payment is often made the very same day!
Sometimes all it takes is a debt recovery agency with some brand recognition to make contact for a long overdue payment to be made.
Efficient processes
As much as we enjoy payment being made within hours of us first making contact we do need to dig deeper for many other cases, particularly serial debtors who feel they are above the law.
But our philosophy remains the same – ensure payment is made to our clients as quickly and as efficiently as possible!
Over the years we’ve sharpened up our processes to ensure our team of debt recovery specialists recover payments as quickly as possible.
All cases are actioned within 1 hour with a 48 hour turnaround. This means we’ll report back to you with our findings quickly so you are always kept up to date with your case progress.
Plus, you can see live case updates online through our partnership with automated credit control platform Know-it!
See a full breakdown of our process below!
An extension of your current credit control team
An effective debt recovery agency will work with you as an extension of your current team.
This means continuous communication with you on the progress of your case and an approach to recovering your debt that does not sacrifice the professional relationship you have with your customer.
Although the priority is getting your current outstanding invoice paid we will always endeavour to collect what you’re owed professionally so future business between you and your client is not sacrificed.
Just because they have one instance of late payment does not mean they’ll be late in paying next time.
Experience across a host of industries with over 50 years combined experience
Over the past 16 years that Darcey Quigley & Co has been established we have really seen it all when it comes to debtors avoiding payment.
Our team of debt recovery specialists have over 50 years combined experience recovering commercial debts across all industries.
We understand the complexities of certain industries compared to others and how some industries carry a higher risk of late payments – take the construction industry for example.
Our industry knowledge means we can navigate typical issues and disputes quickly to ensure swift payment!
Recover late payment interest, compensation and debt recovery costs on your behalf
As an added bonus we’ll always strive to recover late payment interest, compensation and debt recovery costs from your debtor, on top of your overdue amount!
In fact we have a 94% success rate recovering these additional charges!
You are legally entitled to claim late commercial payment interest thanks to The Late Payment of Commercial Debts Act.
Use our free calculator to see exactly how much interest, compensation and debt recovery costs you’re eligible to claim on your overdue commercial invoices!
Why choose Darcey Quigley & Co as your debt recovery agency
- We operate on a no win, no fee basis.
- Cases actioned within 1 hour with 48 hour turnaround.
- 93% success rate recovering overdue invoices.
- Fees starting from just 3%.
- Recover late payment interest and compensation on your behalf with an 89% success rate recovering additional charges.
- UK & International coverage.
- Rated 5 Stars on Trustpilot.
Meet our credit management and commercial debt recovery content writer, Declan!
With a keen eye for detail and a passion for educating others, Declan is committed to creating informative and engaging content that empowers readers to get a firner grasp of their credit control to improve their cashflow.
Connect with me on LinkedIn!
