Since its establishment in 1993, the Midland-based Cash Protection Agency has been able to collect over £30 million in outstanding debts.
If you would like to know how you can recover your debts, call us now on 0800 433 4113.
Commercial debt recovery Melton Mowbray
Even though many businesses are laden with debts for different reasons, most of them are more comfortable writing off a debt instead of engaging a debt collection agency. This is usually because of the high cost of recovery and the possibility of the relationship of the business being tarnished.
CPA works had to ensure that other than recovering your money, we are able to maintain the reputation and relationships that your business has built. Since 1993, we have successfully recovered over £30 million for our clients and most of them now use our services regularly.
Our debt collection service
Q: Isn’t better to write off the debt than hiring an expensive debt collection service?
A: Unlike most debt collection agencies, our fees are based on a sliding scale and are dependent on the age of the debt. We don’t charge a huge setup fee on top of the recovery fees. In fact, we don’t charge a set-up fee at all.
If the debt being recovered is commercial, we will recover our costs from the debtor’s side according to the EU Late Payment Directive.
Q: Because of the dodgy bailiffs that debt collection agencies use, will my relationship with my clients be destroyed?
A: We adopt a very professional and diplomatic approach in business debt recovery in Melton Mowbray. We believe in being firm but fair with the debtors. With us, court cases are the last resort. Most debtors don’t like to incur the cost of legal proceedings and would rather pay the debt because of the financial burden that this can create. If we have to use a bailiff, we will only use those that have been recommended by the court.
Q: Is it possible to collect on an invoice that is two years overdue?
A: Yes, it is possible to pursue an invoice that is up to six years old. In some cases, we can pursue invoices that are longer than six years overdue, but that is dependent on factors like the outstanding county court judgment. You can also get in touch with us if you’re not sure whether we can help you collect on your debt.
Q: In case you can’t collect a debt what happens?
A: We have a very promising success rate in collecting debts. However, in some isolated cases, we might not be able to collect the debt for different reasons. In such cases, we only ask for a small discontinuance fee to help cover the work that we have done trying to recover your money.
Q: The debtor moved without notice. Is there anything I can do?
A: We also offer a tracing service and work closely with tracing experts who are highly experienced. In such cases, we will help you locate the individual so we can recover the debt for you.
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