We feel that the vast majority of slow pay accounts are people using other people’s money interest free for as long as possible (90-95%), while the remainder has problems brought on by bad luck or bad management (not by intent) and are therefore, collectable.
Remember the value of 3rd party is presence, not muscle.
Debtors tend to pay the creditor who pushes hardest first.
We do not collect monies on behalf of clients and instruct debtors to pay you directly thereby providing creditors extra protection and without the need to wait any longer for their money. Any compensation you are due is added to the debt and yours. Under the Late Payment of Commercial Act 1998 and as amended by the Late payment of Commercial Debt Regulations 2013 late payment charges can be added to the debt.
Size of unpaid debt
Sum to be paid to the creditor
|Up to £999.99||£40.00|
|£1,000.00 to £9,999.99||£70.00|
|£10,000.00 or more||£100.00|
Collect-Debts are a Dynamic collection agency, offering full recovery services to a wide variety of clients throughout the UK. The company, which can be found in Mill Hill (London), was established in 1990 and has many years experience in the Debt Recovery and related businesses.
The firm offers comprehensive and bespoke collection services to businesses, which is intended to offer a total solution for everyone. With offices, the business also has trained staff helping clients to improve their collection results. We understand how the business world works and the importance of cash flow. The most common mistake is clients delaying decisions to call in a debt collection company.
The longer a company waits, thinking that the debt will be settled “any day now”, the more challenging it is and the longer it takes to collect.