Which Businesses Typically Use A Debt Collection Agency?

Which Businesses Typically Use A Debt Collection Agency? | My Debt Recovery

Share This Post

Thousands of businesses in the UK use debt collection agencies to help with their debt and credit control. There are a number of reasons why companies might choose to use an external provider, including getting one-off support on problem invoices or having an ongoing credit control service. 

We provide a number of services that can be helpful to businesses. Some of these include:

– Collecting debts on behalf of the business

– Offering credit control and debt advice services

– Acting as an intermediary between the creditor and debtor

In this blog post, we will take a look at which businesses typically use debt collection agencies and why they might make this decision. We will also look at some of our case studies so you can discover how we have helped other businesses achieve success!

Companies that can benefit from using a debt collection agency

Businesses of all shapes and sizes use debt collection agencies. They are chosen by small, medium and large businesses from a wide range of industries including construction, manufacturing and services. 

The most common reason for companies to choose an external agency is that they do not have the staff or resources in-house to be able to handle their debt collection and credit control. If you are a small business, you may not have enough staff members to be able to dedicate time towards this task; or if you do, it is likely that there will be other priorities for them within the company. 

In addition, using an external debt collection agency can also save your business money; as they will take care of the debt collection process on your behalf. This means that you will not have to spend time or money trying to recover the money yourself. Often a costly and time-consuming task.

My Debt Recovery Case Studies

If you are still unsure whether using a debt collection agency is right for your business; take a look at some of our case studies. We have helped businesses from construction, professional & financial services, insolvency practitioners, marketing & PR, recruitment, provision of labour as well as contract care services to retail & wholesale and also engineering.

Each of our case studies tells the story of how we were able to help a business recover money that they were owed. In some cases, we were also able to get the debt written off; and in others, we recovered 100% of the debt plus interest and costs.

If you are interested in finding out more about using a debt collection agency

Remember, each debt must be evaluated on its own. The best way to discover if your case or circumstances is suitable for debt collection agency support is to get in touch. We can also listen and advise the best course of action depending on your situation and needs.

Also, keep in mind that the more time you wait to contact a debt collection agency before contacting them; the less likely it is that you will recover your cash – so don’t hesitate.  

If overdue or late payments are impacting your cash flow or taking time away from growing your business. Consider the benefits and reach out to a debt collection agency.

Stay up to date with our latest insights on our LinkedIn page.

Subscribe To Our Newsletter

Get updates and learn from the best

More To Explore

Do You Have A Debt That Needs Recovering?

drop us a line and we'll help you get paid

debt being written in notebook

Get In touch

0800 009 6106