With almost 8 in 10 adults carrying debt in 2021, the UK faces a spiralling debt crisis. But if you’re a creditor looking to recover a private debt, there is a solution.
What is private debt?
Personal or private debts are non-business debts. These debts cover any form of private debt which exists between two parties, excluding bank lending. Types of private debt include all forms of peer-to-peer lending, including unsecured personal loans.
Private debt collection has never been so sought after. In fact, private debt collection inquiries to our head office have increased by 72% over the last 6 months. In the wake of the pandemic, thousands of people across the UK are turning to debt collection agencies to get their money back. With many now needing to diversify their income streams, creditors have been forced to take more direct action with their debtors.
Millions have turned to loans, mortgage holidays and credit cards to make ends meet. Yet many of these measures have only further increased financial burdens, thanks to the added interest attached. Creditors, whose money is being unjustly withheld by friends or even loved ones, are often reluctant to rely on these schemes, as fast-fix borrowing is not a long-term financial recovery solution.
Get your private debt collected
Dealing with a debtor can be incredibly taxing and stressful. Often more so when monies have been leant to someone we thought we knew and trusted. When relationships breakdown, or creditors uncover the true nature of their debtor, the situation can become difficult. That’s why every year in the UK, millions of creditors write off debt. They simply cannot face a continued battle with their debtor.
And that’s where a debt collection agency step in. A private debt collector’s role is to assist individuals in the recovery of monies owed.
When creditors feel trapped and disempowered, they can turn to a professional debt collection agency to work on their behalf. After validating the debt’s legitimacy, the agency will act on the creditor’s behalf to secure fast repayment.
Trust the debt recovery experts
Established in 2009, our specialist private debt recovery team are experts in their field. With over 75 years’ combined experience in the industry, we know how to collect private debt.
Offering a fast, stress-free debt recovery solution, the team here at Cobra Financial Solutions will get your money back in your pocket. Where it belongs.
We’ll start by listening to you. Together, we’ll discuss the circumstances surrounding the debt, and collate the evidence we need. Upon instruction, our debt collection team will visit your debtor face-to-face, and work with them until payment is secured.
Our industry-high private debt collection success rate of 89% says it all. Our customers know we’ll act with integrity, discretion and professionalism at all times. And it’s thanks to their feedback that we’ve secured a 5* Trustpilot rating. The Cobra team will deal with your case sensitively and respectfully in order to deliver the results you deserve.
If you’re owed money, you deserve it back. So take decisive action. Trust the UK’s number 1 debt collection agency to get your money back in your pocket.
Call the Cobra team today on 0151 526 4222, and let’s get started.