If all the usual methods used to collect an outstanding business debt have been exhausted then it’s time to call in the big guns! Typically, businesses looking to recover their outstanding monies will either enlist the professional services of a debt collection agency or hire a lawyer who specialises in debt collection.
But which way is the best way to go? As professional debt collection agents we’ll make it simple for you. But to give you the low down, we’ll take a look at your options when it comes to getting back what is rightfully yours.
For many businesses seeking to recover their overdue B2B accounts, many turn to a debt collection agency to help. One of the greatest benefits of choosing a debt collection agency such as Cobra Financial Solutions is the fact we shoulder the burden of negotiating payment without charging unreasonably high fees of a lawyer.
This has a direct impact on not only business owners but also employees meaning they are free to focus on the important things such as running a business. It’s also been proven that business owners who seek out a reputable debt collection agency with a proven track record can take advantage of their experience in getting debtors to pay up. Here at Cobra Financial Solutions, we have an impressive success rate with a whopping 87% of our client’s debts being recovered in 2015.
The debt collection industry as a whole is growing and businesses in the UK can expect to see significant recovery on bad debts as professional agencies such as us help to recover outstanding monies.
In contrast, lawyers who specialise in debt collection charge minimum fees and can end up being an expensive route in recovering debts owed to you. One thing to remember is that if a business owner decides to take a debt to court, the lawyer’s fees will be added to any court-related fees and charges connected with the lawsuit.
So, if you have an outstanding B2B account, do not hesitate to get in touch with our specialist team here at Cobra Financial Solutions who will be happy to help you in your quest of recovering what is rightfully yours.