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In today’s economic climate many businesses can find themselves facing problems with late payment of invoices and bad debt resulting in detrimental effects to a company’s cash flow.
Our Credit Control Services will enhance this fundamental part of your business. LR Collections Ltd brings a more focused and proactive approach to your collections, whether your requirements are a fully outsourced service, or enhancement to existing in-house function, resulting in improved cash flow and working capital, reduced lending, and a reduction in both debtor days and potential bad debt.
Our Debt Recovery Services are used in situations where formal credit control ceases to initiate payment from a debtor. From aged debt to legal recoveries, we can tailor this service to meet your needs.
Collecting overdue accounts is our lifeblood. But, it’s no longer enough for a collection agency to simply collect the money that is due to you. We must also balance the speed of our debt collection with a duty-of-care that protects your reputation, educates your customer to respect your credit terms, and makes your customer aware that protracted default will harm their credit rating.
So, in addition to collecting your money, you should also expect:
• recovery of late payment charges
• complete transparency of progress via the web
• prompt BACS remittance of collected funds
• minimal need for legal recovery
• charges based on the principle that no collection means no commission
If you expect your collection agency to provide all of these, then LR Collections Ltd could well be the debt collection agency for you. On receipt of your commercial accounts, we’ll add contractual or statutory interest and compensation before checking the solvency and liquidity of your debtor. Having assessed their ability to pay, we’ll swing straight into action with our telephone negotiation.
Then, we’ll overcome your debtor’s objections, remove frivolous disputes, seek admission of your debt and secure payment. Finally, we’ll have the collected funds cleared and remitted to you promptly by BACS. However, if we’re unable to reach a settlement, we won’t recommend legal action until we regard pre-legal payment to be improbable.
With your DSO to protect, all of our actions are prompt, and conclusive. And, since we only get paid on results, nothing matters more to us than getting your account(s) paid in the fastest possible time.
If you interested in any of the above services and serious about reducing costs & improving collections then please contact us on 0800 689 9181.
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