No setup fees – No upfront costs – You pay when we recover
The Cash Protection Agency was established in 1993 with the sole purpose of helping its clients recover debts. 20 years later, the agency has been able to collect in excess of £30 million in outstanding debts and all that without charging a setup fee.
Business Debt Recovery Ipswich
Due to customer leniency and sometimes lack of time to chase payments, every business will usually find itself with numerous unpaid invoices. It is unfortunate that in most cases, a business that is faced with this situation will opt to write-off the debt instead of hire a debt collection agency. This is usually because of the high costs attached with such services and the risk they pose to customer relations.
We have been able to enjoy great success over the years with our professional and diplomatic approach to debt collection. We have been able to collect in excess of £30 million without affecting the relationships our clients have built with their customers. As a result, we have many repeat clients who now use our services often.
Our debt collection service
Q: Between using your expensive services and writing off the debt, which is better?
A: There is no doubt that there are some debt collection agencies that can be costly. This is because, on top of their recovery fee, they also charge a setup fee. With us our rates are based on a sliding scale that is determined by how much time has passed on the debt and we don’t have a setup fee.
For commercial clients, our cost of recovering the debt is catered for by the debtor because of the EU Late Payment Directive.
Q: Won’t your methods of collections damage my relationship with the customers?
A: Most of our clients believe this but, it’s not true.
Even though we are very firm with the clients, we are also very fair. We always opt for court processes as the very last recourse. We usually advise the debtors to pay the debt or set up a payment plan. In cases where court action is unavoidable, we always make sure that we use County Court bailiffs or High Court Sheriffs.
Q: Is it possible to collect on an unpaid invoice that is more than two years old?
A: We are able to collect on invoices that are up to 6 years old providing you have been actively chasing the payment for this time. If your invoice is older than this, you need to check the county court judgement in your locality or reach out to us for advice.
Q: Are there cases where you have failed to collect a debt?
A: While we boast of a very high success rate, there are very isolated cases where we have failed to collect the debt. In such cases, we only ask for a discontinuance fee
Q: The debtor moved without notice and did not leave the contact information. Can you assist?
A: With our debt collection service, we also offer a tracing service with experts who have a very high success rate. With the help of this service, it is possible to locate 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