Debt Recovery Process
Client Initial Contact
We will discuss the debt recovery process including the details of the debt, explain how the debt will be chased, and what the costs will be. Once the client has decided to proceed, we will ask for any paperwork e.g statements, invoices, details of previous action to recover the debt etc. A file will then be created with a unique reference number.
Initial Correspondence
A letter/email will be sent out within 24 hours of instruction, demanding payment to be made within 7 days. The letter will outline who the debt is owed to, and the amount that is owed including any late payment interest and compensation. If initial correspondence is sent via email, then a link will be added onto the email for the debtor to make payment online.
Telephone Calls
If no contact has been made by the debtor, we will then continue to contact by telephone. This gives us the chance to see if the debtor has a dispute or if they have genuinely fallen onto hardship. If this is the case we can agree to a re-payment plan that is both affordable to the debtor, but to help retrieve the debt for our client as quickly as possible.
Visits
If we have been unable to contact the debtor by phone or email, we may suggest doing a face to face visit. Not only is this method successful in receiving payments, it also gives us an insight into their financial position.
Legal Instruction
If on the rare occassion we are still unsuccessful, then legal action may or may not be advised. We use a specialist debt collection solicitor, with us being the first point of contact for our client.
