Credit Collections (UK) Ltd is a debt collection agency providing debt collection & credit control services. If you are thinking of engaging a debt collection agency then you should consider the following.
Before engaging a collection agency to assist with your debt collection ensure that you are clear upon the terms of business and charging structure of the debt collection agency. Many collection agency firms will be happy to work on a no collection no fee basis. Where monies are successfully collected a fixed fee charging rate may be agreed but it is more common for collection agency to charge a commission on the monies they collect on your behalf. Prior to engaging your chosen collection agency, ensure that you are aware of the commission rate that will be charged by the collection agency.
No collection agency should request monies upfront or request that you purchase credits prior to carrying out any debt collection work. Also be wary of any collection agency that will only act on your behalf if you submit a minimum number of accounts for recovery per year. Any reputable collection agency will be happy to undertake work on your behalf whether you have a single account to be collected or numerous accounts.
Always ask for the collection agency to provide you with its licence details & enquire whether it belongs to any governing body, such as the Credit Services Association or Institute of Licensed Debt Practitioners. Also enquire whether any of the debt collectors employed by the collection agency are Institute of Credit Management members.
It is also a good idea to enquire whether the collection agency has any experience in collecting unpaid accounts in your particular field of business. Always request references from existing clients of the collection agency who operate in your area of business. This will ensure that the collection agency has the required knowledge to collect unpaid accounts in your particular market place.
Enquire whether the collection agency has it's own in house legal department. Should the collection agency be unsuccessful in collecting your unpaid account in the pre legal environment, legal fees will be much higher if the collection agency transfers your case to an external firm of solicitors.
Credit Collections (UK) Ltd has been established as a collection agency for over 30 years & can satisfy all of the above requirements. You can therefore rest assured that all your debt collection agency requirements are in safe hands.
1 Sheffield Road
Tel: 01246 411931