Hire a Collection Agency

Hire A Collection Agency

An invoice is usually issued to a client once a product has been delivered, it is thus the responsibility of the client to pay the service provider. However there are times that the client seems not to honour the agreement and does not respond to the invoice, how do you go about this?

After collecting the unpaid invoices, it is first prudent that you try actually contacting your client to make sure that he got the invoices. Who knows, maybe the invoices got stuck somewhere on the way. You have to make sure that the client knows exactly how much he owes you and when they are expected to pay.

Demand Letters

If you have already done this and you are sure that your client has simply refused to pay then the next thing is to send them a demand letter. This is a letter written by your solicitor to your client demanding for payment. Will it work? Well it depends…, depends on what kind of person you are dealing with in your client. If they are serious about continuing with business then maybe they will comply but chances are they won’t.

You might to continue sending them multiple demand letters, this might prove effective. Maybe the client will get the gravity of the situation and finally pay you. However if nothing positive comes out of the letters then it is time to get serious.

Litigation

The first thing you have to check when you want to go to court is your contract. In most cases businesses have a requirement for debt negotiation and when that fails arbitration in case one party breaches the contract. In arbitration the client will have to meet the expenses of both sides when the service provider decides to go court. This is a good thing as it might force the client to agree to payment on fear of the huge costs in court.

But there is always a possibility they might not still comply and when it comes to this you have to seek professional help. You can decide to lawyer up. Hire a local small business solicitor, he will help you with the legalities of the situation.

Hiring a Collection Agency

A better option is to hire a collection agency. If you choose to go this way it is very important that you get the right debt collection agency UK. For you to hire a collection agency that is right, you have to do some research. Ask your friends and family members for help. You can also do a simple search online at Better Business Bureau (BBB) for certified collection agencies. There are factors that you have to take into consideration before you hire a collection agency.

You must consider their experience in the industry and whether they have dealt with a similar case before. You will also need a contact before hiring a debt collection agency, they will make sure that you are kept informed on anything happening in the debt collection agency UK.

Most importantly you should consider the fees they charge, you don’t want to be spending more than you are chasing, just in the name of debt pursuit. Most debt collection agencies charge a 30% commission in debt collected. However much they charge, hiring a collection agency is the best way to get your money fast.

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