Finding The Right Debt Recovery Process For You: When Should You Use Consumer Debt Collection Services?
Alex M Adamson have been working with businesses to recoup outstanding debt from their consumers for over 60 years. Our experience has allowed us to understand how challenging recovering consumer debts can be for businesses, with individuals often being difficult to chase for payment given a number of circumstances. Where too much time and resources are being spent on recovering payment or if a debtor simply can’t be traced then it is time to utilise a debt collection firm’s expertise to recover these unpaid debts.
You may feel all avenues have been exhausted when trying to contact a consumer to discuss repayment, however handing the recovery process over to an experienced debt collection team allows access to new resources. Using a combination of our in-house expertise, our bespoke Minerva debtor profiling software and access to external databases, we can easily identify your debtor’s ability to pay and provide a pre-sue report with recommendations of how to tailor the recovery process appropriately.
In cases where businesses have been unable to trace a customer we utilise our range of investigative tools to trace any absconded debtors. Our experienced investigations team have a high trace success rate which ensures our clients have the best chance of recovering unpaid balances.
Before any contact with the individual is made clients are assigned a dedicated case manager who they can liaise with throughout the proceedings. Your case manager will ensure cases are monitored throughout its lifecycle to identify any changes in circumstances which may affect the recovery process. Our Web Minerva software also allows clients to access real time reporting of the case, as well as allowing for further instructions to be given.
Debtors will be contacted via a wide range of communication methods, including email, telephone and text as well as written correspondence which can all be either tailored or automated to provide a consistent stream of contact. We find for the majority of cases that receiving correspondence from a recovery firm like ourselves is enough to encourage an individual to get in contact to discuss the repayment of the outstanding debt.
When discussing payment arrangements we use a combination of our profiling and assessment of debtor’s circumstances to set up affordable instalment plans while ensuring your debt is collected as soon as possible. Payments can be made easily through our wide range of payment methods and our Minerva software automatically monitors instalments and generates reminders by letter, telephone call, text or email as appropriate in the event of default.
As Credit Services Association & Financial Conduct Authority members our whole recovery approach is centred around ethical practice to ensure your unpaid debts are recovered in the fairest way possible.