We are a midland-based company that has been helping businesses collect on their debts since it was established in 1993. To date, the Cash Protection Agency has helped its clients recover over £30 million.
For free and impartial advice on how you can recover your money today, call us on 0800 433 4113
Commercial debt recovery Corby
In business, unpaid invoices are quite common because of customer leniency, bad luck and lack of time to chase down the debtors. Because of valid concerns that most businesses have against debt collections agencies like the high cost of collection and disintegration of customer relations, most businesses prefer to cut their losses and let go of the debts.
With our professional and diplomatic approach, we are able to recover your money without affecting the relationship between you and your customers. Since establishment in 1993, CPA has helped its clients recover over £30 million most of whom are now repeat clients that seek our services regularly.
Our debt collection service
Q: Aren’t debt collection agencies too expensive?
A: There are debt recovery agencies that attach a setup fee on top of their recovery fees. Our fees are on a sliding scale and rely on the age of the debt. When you pass on the debt to us, we do not charge a setup fee.
Because of the EU Late Payment Directive, for the case of commercial debt recovery, we recover our costs from the debtor.
Q: Won’t my customers feel intimidated by the dodgy bailiffs that you use and eventually ruin my business?
A: Even though this is a completely misguided notion, we hear it one too many times.
When it comes to bailiffs, we only use those that have been approved by the court. Ideally, court action is very rare and most debtors prefer to set up a payment plan than incur the added expense of legal proceedings. While we are firm with the debtors, we are also very fair and do our best to make sure that your relationship with your customers is not damaged by our actions.
Q: Can an invoice that is more than two years old be collected?
A: The law allows for debts of up to six years to be collected. If the invoice has not been for a longer period, you might need to refer to the county court’s judgments. You can always give us a call or fill out an enquiry form if you’re not sure whether you should pass on the debt to us.
Q: In case you fail to collect the debt what happens?
A: In some very isolated cases, we might not be able to collect the debt for you regardless of how hard we try, in these instances because we don’t operate on a no-win no-fee basis, we ask for a discontinuance fee to help cover the cost of the work that we have done. We also ask for an equal fee when you decide to stop the collection process for whatever reason.
Q: The debtor has moved and did not share the new contact information. What next?
A: with our debt collection service, we also have a tracing service that will help locate the debtor. Our team of expert tracers is highly experienced and skilled which gives us a real chance at being able to find the individual.
Aged debt up to 6 months: 15%
Aged debt 6 to 24 months: 17.5%
Aged debt 24 months plus: 25%
Minimum charge: £65- £200 dependant on debt value
Discontinuance fee: £85 – £200 dependant on debt value
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Having used Cash Protection Agency since 2002, we have always found them to be effective and efficient. The debts we submit for collection services are almost without exception difficult, problematic, personal debt cases where we have exhausted all possibilities in-house, yet, Cash Protection Agency Ltd always rise to the occasion and their success rate has been high. Their staff are always courteous, helpful and professional, and work in the spirit of partnership with us providing good advice and support.
A Senior Finance Manager in an NHS Trust in the West Midlands