The 5 Ws of using a debt collection agency
Late payments cause significant damage to businesses’ cash flow up and down the UK and it is a hard fact that many businesses are now turning to debt collection agencies such as Cobra Financial Solutions for help in recovering their outstanding accounts.
And yes, while some businesses find it a daunting task to engage with a debt collection agency, we like to think we take the stress and worry out of having to ask for help when you need it. Debt collection doesn’t have to be daunting and we will show you how as we share the 5 Ws of working with a professional debt collection agency like us!
Here to make your debt collection as hassle free as possible- Cobra Financial Solutions help businesses across the United Kingdom recover what is rightfully yours. Read more about the 5 W’s below….
Why: The value of working with a professional debt collection agency
Before you choose to outsource any task regarding money it is important to weigh up the pros and cons of doing so and analyse what it will bring to your business. Some of the biggest benefits of outsourcing your overdue invoices to a professional debt collection agency such as Cobra Financial Solutions include:
- Regain time, resources and peace allowing you to focus on newer business
- Access collections expertise and experience to bring outstanding results
- Provide complete peace of mind that your aged balances are in safe hands
- Avoid having to write off unpaid invoices
What: Deciding which debts you want to outsource to a collection agency
It is a true fact that some businesses outsource everything to debt collection agencies after it reaches a certain age so they can concentrate solely on newer debts while others only outsource debts which are particularly difficult to collect.
Of course, every business is different so it is entirely up to you what debt collection route you take- from high value invoices, multiple invoices or invoices that belong to a customer you simply cannot track down, we can help you with all of your overdue debts.
As a professional debt collection agency covering the whole of the United Kingdom, Cobra Financial Solutions understand that every debt is different and will work with you to establish the best strategy to ensure we achieve the best possible results for you.
When: The right time to outsource your debts
When it comes to debt collection, timing can change the results quite dramatically. In reality, the quicker you outsource a debt the better. The main reason is because as invoices get older and older, it can be increasingly difficult to locate the debtor or prove without any question that the service or product was provided.
Where: Looking for debt collection agencies
As soon as you’ve decided what you’re going to outsource and when, the next challenge is to look for a debt collection agency to engage with to help you. Many people choose a debt collection agency with a great reputation and proven results and here at Cobra Financial Solutions we have a fantastic array of glowing testimonials as shown here.
Of course, if you want to collate the details of other debt collection agencies to cross compare, feel free, however we believe we’ve got the best solutions for your business.
Who: Choosing the right company to work with
After narrowing down your options and reviewing what the debt collection agencies can offer you here’s four important things to look for to find the perfect match:
- Recommendations: Check out our glowing testimonials, success stories and customer feedback to gauge our proven results for yourself
- Experience: Opt for a professional debt collection agency who are going to strive to get results for you. Be sure to ask about our knowledge and expertise for complete peace of mind.
- Credibility: Be sure your chosen debt collection agency maintains the highest standards in the industry. Any questions you want to ask? Just get in touch today.
- Sector experience: If you have issues within a particular sector, certain debt collection agencies will have experience within the same sector and will be able to help you. Bringing in-depth knowledge, Cobra Financial Solutions specialise in B2B commercial debt collection and are here to help you.
So there you have it. Now that you know the 5 Ws of working with a debt collection agency, it’s time to put it to work.
If you have outstanding accounts that could benefit from the expertise of a professional, persistent and persuasive debt collection agency we could help. Get in touch today and discuss your individual requirements.