Top 3 UK Debt Collection Agencies

Top 3 UK Debt Collection Agencies

Are you a business or private individual based in the UK to who someone owes money? Do you find yourself fighting a losing battle with problem debtors on a regular basis?

The financial difficulties that this brings can leave you feeling distressed. In cases like this, it is best to remember that you are not alone.

It is a common occurrence for most professionals and private individuals to experience late or non-payment of invoices.

bacs.co.uk reported in an article that around 54% of small to medium-sized businesses in the UK experienced overdue payments. Further to this, around 13% of those struggled to pay their business bills.

This should put into perspective how big of an issue this is within the UK business world. As well as this it is, unfortunately, showing no signs of stopping.

If someone owes you money, the most important thing of all is to choose the right path to getting your debt paid. We have worked with a plethora of clients who, at first, thought that their debt was too much hassle to recover. This is not the case.

As mentioned above, the hardest part of the initial debt collection process is choosing the right method.

There are still a lot of organisations and individuals out there that will stick to outdated methods such as Solicitors. Yet, there is a far more modern approach available.

Businesses across the country, in places like Wolverhampton, Swindon, Swansea and Edinburgh are all looking for the top 3 debt collection agencies.

The best method for collecting a debt someone owes to you is to instruct a Debt Collection Agency. At the UK Debt Collection Bureau, we have a trusted, accredited list of professional partners. These partners can assist in the recovery of your unpaid debts and invoices.

In this article, we have put together a list of the Top 3 UK Debt Collection Agencies.

The Top 3 UK Debt Collection Agencies – What Should You Look For?

When it comes to choosing the right Debt Collection Agency to instruct, it is worth knowing the key points to look for to ensure you get the most hassle-free and cost-effective service possible.

The key components to look for in a Debt Collection Agency are:

• Do they have any accreditations with any awarding bodies, such as ISO9001?
• Are they members of any industry associations, such as the Credit Services Association or the UK Debt Collection Bureau?
• Are they a licensed & authorised organisation with the Financial Conduction Authority?
• Do they have national and international offices, enabling them to provide service regardless of the location of your debtor?
• Do they have a good social media presence, with fantastic customer reviews?

Were you able to answer yes to some, if not all, of the above? If so, you are on the right track to finding the right Debt Collection Agency for your requirements.

It can be easy to fall victim to the “cowboys” of the debt collection industry. Following our steps and guidance will ensure this does not happen.

We vet each of the partners that we work with and provide only the best service for their clients.

Using A Debt Collection Agency – Top 3 UK Debt Collection Agencies

If you have read the above, you will now be aware of what to look for when choosing a debt collection agency.

To assist you even further, our team of experts have put together a list of the top 3 UK Debt Collection Agencies.

This list includes recommendations for Commercial, Private and International needs.

Commercial Debt Collection – Top 3 UK Debt Collection Agencies

Commercial Debts are more common than you may possibly think. Most business credit-control teams across the UK deal with unpaid invoices on a regular basis.

There are many excuses for why invoices or services will go unpaid.  When a client failing to show any clear signs of paying, you will need to speak to the professionals.

Prolonging the collection of your debt will affect both your organisations’ cash flow and its sustainability.

Our recommended partner for the collection of Commercial Debts is Federal Management.

Federal Management has been the UK’s No1 Commercial Debt Collection Agency since 2004.  Throughout their long history, they have built up a trusted portfolio of clients.

They have worked across almost all business sectors and provide a service that focuses on cost-effectiveness.  As well as this, they focus on whilst maximising the potential for a successful recovery of the funds owed.

Some of the key benefits of using Federal Management’s services are:

• Nationwide collections offices
• UK’s lowest commission rates from 6%
• Up to 90% recovery rate on undisputed debts
• Commercial legal team to deal with disputes and mediation
• No collection means to collection costs to pay!
• Approved and authorised by the Financial Conduct Authority (FCA)

If you or your business are experiencing issues with late or non-payments, it pays to speak to the experts.

Private Debt Collection – Top 3 UK Debt Collection Agencies

A Private Debt can come from many walks of life and form in many different scenarios, which may include:

• Customers Not Paying For Goods
• Absconded Tenants Not Paying Their Rent
• Someone From Another Country Owing Money
• Partners, Friends or Family Members Owing You Money

If you find yourself owed money by a private individual in one of the above scenarios, then you need to speak to the Private Debt Collection experts.

Our recommended partner for such matters is Frontline Collections.  Frontline has been providing its award-winning Private Debt Collection solution since 2005.

Throughout their long history of collecting private debts, they have recovered money on behalf of many different sectors. These include Independent Schools, Veterinary Practices, Nurseries and Dental Practices.

The main benefits of using Frontline Collections to recover your personal debts are:

• National collections offices to assist you no matter your location
• Highly efficient, effective and professional Personal Debt Collection service
• Average 90% recovery rate on undisputed debts
• High Collection Rates and Low Commission Rates
• “Gold Preferred Supplier” with the Independent Schools Association

International Debt Collection – Top 3 UK Debt Collection Agencies

Collecting debts from your own country can be difficult at the best of times. When someone owes you money from someone overseas, this may make you feel even worse.

Throughout our history, we have worked with many clients that have shown distress when it comes to the collection of international debts.

This is due to the distance and the hindrances that play a part in the collection process.

Yet, there is no need to fear, as our partners for International Debt Collection have expertise and training to combat any and all hindrances along the way.

Our recommended partner for such requirements is FM International.

FM International have a highly-efficient and pro-active team of International Debt Collectors. This ensures you get the most cost-effective service when collecting your overseas debts.

With partners based across the globe, they are able to provide an international solution.

The major benefits of instructing FM: International to recover your debts are:

• They allow you to grow your organisation and maintain cashflow
• It is their job to collect International Debts!
• Industry-high recovery rates and low commission rates
• Their pro-active service allows you to keep customer relationships intact