The Cash Protection Agency which is based in Leicester has been helping clients collect debts since 1993 when the agency was established. The agency has been trading for over 20 years in Loughborough and does not have a set-up fee. Over the years, we have been able to collect £30 million in outstanding debts.
For free and impartial advice on how you can recover your money, call us now on 0800 433 4113.
Commercial debt recovery Leicester
It is common for businesses to lose money because of unpaid invoices. Whether the reason is sheer bad luck or being too lenient with customers, unpaid invoices can be recovered. But, because of the high cost of hiring a debt collection agency or the fear of how they might impact the relation of the customers with the business, most businesses opt not to.
Other than being able to collect over £30 million in debts for our clients, our other greatest success has been to ensure that we recover the money without affecting the relationship of the business and its clients by maintaining a professional and very diplomatic approach. Because of this, we now have many repeat clients that use our services regularly.
Our debt collection service
Q: Is it really expensive to hire a debt collection agency compared to writing off the debt?
A: In some cases, it can be very costly to hire a debt collection agency. On top of their recovery fees, there are some debt collection agencies that also have a very high set up fee. In our case, we don’t have the set-up fee. Also, our fees are on a sliding scale usually determined by the age of the debt.
For commercial debts, our costs of recovery are usually covered from the other side because of the EU late payment directive.
Q: Won’t your collection methods destroy my relationships with my customers?
A: This is what most of our clients believe but it is not true.
We employ a professional and diplomatic approach with all debtors. Court cases are usually a last resort mainly because most debtors fear having the extra cost that comes with the process. Instead, they would prefer to clear the debt or simply have a payment plan. We are fair but firm with our debtors and always strive to keep the good relations going. Should we have to use bailiffs, we only use those approved following the proceedings of the court.
Q: Is it possible to collect on an unpaid invoice that is overdue for 2 years?
A: You can recover debts that are up to 6 years old. However, when it comes to longer periods, we have to consider the county court judgments in each location. If you’re not sure whether you should collect on your debt, you can call our team for advice or fill out an enquiry form.
Q: What if you’re unable to collect on the debt?
A: No matter how hard we try, in very rare cases, we might not be able to collect the debt for you. In such cases, we only ask for a discontinuance fee from £85. We ask for the same fee if you decide to stop the process.
Q: What if the debtor has moved and we don’t know their current contact?
A: Our tracing service can come in handy in such cases. We partner with a very experienced team of expert tracers and chances of finding such a person are usually very high.
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