Since the establishment of the Cash Protection Agency in 1993, we have been able to collect over £30 million in outstanding debts for our clients. The midlands-based debt collection agency comes in handy in helping clients recoup unpaid invoices.
For free and impartial advice on how to recover your money, call us now on 0800 433 4113.
Commercial debt recovery Derby
In business, bad luck, being too lenient to customers or not having the time or resources to chase clients owing the business leads to unpaid invoices which happens to be a norm in every business. Business owners also find it easier to write off the debts compared to hiring expensive debt collection agencies and also risking their relationships with their customers.
Since 1993, we have been recovering debts and saving relationships through our diplomatic and professional approach. To date, we have been able to recover over £30 million in unpaid invoices for our clients.
Our debt collection service
Q: Is it expensive to use a debt collection agency?
A: There are debt collection agencies that attach a large set up fee to their fees on top of the recovery fees. Our fees are on a sliding scale that is determined by the age of the debt. We also don’t have a set-up fee when the debt is passed on to us.
Q: Won’t you ruin the relationship between the business and the customers?
A: We use a professional and diplomatic approach when recovering debts. Court action is a last resort and one that most debtors don’t prefer because of the costs attached to the process. Should it get this far, we only use bailiffs that have been recommended by the proceedings of the court. We negotiate with the debtors to have a payment plan or pay the debt in full. We always try our best to keep those relations intact.
Q: After how long is it impossible to collect an overdue unpaid invoice?
A: An overdue invoice of up to 6 years can be pursued. However, for longer periods, the possibility of pursuance of a debt is dependent on the county court judgements. In case you’re not sure whether you should pass the debt to us, you can all us or reach out to us through the enquiry form and our team will advise accordingly.
Q: What if you can’t collect the debt?
A: Rarely, we might be unable to collect on a debt despite our best efforts. Because we don’t use a no-win no-fee basis, we only ask for a discontinuance fee to cover the cost of the work that we have done in our efforts. If you decide to stop the debt recovery process, the same fee is applicable.
Q: What happens if the debtor has moved?
A: if the debtor has moved and has not shared their new contact information, our tracing service can help to locate the debtor, we have a team of high experienced expert tracers. With them, we have the best chances of finding the location of the debtor.
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