Do you have a problem recovering Bad Debts? We don't!
Kings Ransom offer a range of Debt Recovery and Credit Control services to improve your cash flow, reduce debtor days and make your business more profitable.
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A Debt Recovery Specialist can help with bad debt collection and save you the hassle and worry of chasing money.
The minute a Debt Recovery Specialist gets involved the debtor knows that collection of his debt has become a priority and the sooner he pays up the better.
Debt collection is frustrating and time consuming and has become a specialised field. Our success is due to our professional persistence and intensive follow up procedures.
How do we do it?
Our procedures are designed to maximise recoveries in the shortest possible timescale.
- The same day you instruct us, we send a letter to the debtor stating the debt owed plus costs and giving your client the opportunity of paying by return of post.
- After 7 days a Final Demand letter is sent explaining what will happen if they don't pay.
- After another 7 days a Blue Intent Notice is sent stating that if no payment is made, litigation is imminent.
- Finally, our Litigation Officer gives a further 7 days notice and warns the debtor in no uncertain terms exactly what judgement against them in court will mean.
- If the debt remains unpaid, we then start recovery through legal action and guide you through the litigation procedures.
What information is needed before we can start working?
- The amount owed plus details of when it was due, any interest or charges applied by you.
- Copies of invoices, statements, delivery notes.
- Copies of any agreements or other written acceptance of the agreement between you and the debtor.
If you are struggling to keep your Credit Control manageable, then use Kings Ransom.
Many small to medium sized businesses are most at risk from serious cash flow problems because of customers not paying on time. Problems from recovering bad debts can quickly spiral out of control.
How can a debt collection specialist help?
The more your customers know that you will not tolerate late payments, the easier it will be to control the problem and assess the persistent late payers.
Debt collection is made a lot easier when a good system for credit control is put into place. If you have a backlog of bad debt then using a debt recovery specialist will get this sorted so you can face the future with a much more manageable level of credit control.
Kings Ransom will guide you through credit control procedures, debt recovery processes, implementing a system tailored to your specific needs. We can incorporate staff training and offer continuous support and monitoring.
We provide an effective service at a reasonable cost and will be happy to discuss your needs.
Looking to out-source some or all of your regular credit control management? Kings Ransom is happy to help.
We offer a flexible service to suit your needs – from just a few hours per month to a regular weekly contract. We cover staff absence from holiday, sickness or maternity.
Whether you need your debts chased monthly or general credit control, Kings Ransom has a solution.
We offer Credit Status Reports to establish credit limits or trading terms of new or existing clients. The Credit Status Report can easily identify adverse credit history allowing you to make informed Credit decisions.
The details this search may provide include:
- Confirmation of address
- Any bankruptcies or county court judgments
- Confirmation of entry on the Electoral Roll
- Any information on previous searches.
THE LONGER YOU LEAVE A BAD DEBT, THE HIGHER THE RISK OF NON-RECOVERY
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