How Does Debt Collection Work?...

Hi again,

I have a debt outstanding from one client spread over several invoices of approximately £5k.

It is a lot of hassle trying to get any of the money from the company and a large range of excuses come up.

Can anyone give me a brief overview of how collection works - do you pay a percentage of the money owed to the collection agency and get the lump sum straight away, or do you only get paid if they manage to collect the debt? Are all cases taken on or do you need to provide certain information to the collection agency so they can assess your case... if so, what?

Thanks

Tim

Re : How Does Debt Collection Work?

Tim

There are usually several methods and types of collection out there; certainly many will offer both options: cash up front minus their percentage, or taking a lesser cut on collection of the debt. Partly it depends on the perceived risks on each side.

Chris

Re : How Does Debt Collection Work?

Chris, thanks for this... any ideas where I can find out more about the options?

Tim

Re : How Does Debt Collection Work?

Hope you managed to take the steps you needed Tim, nothing more frustrating than not getting paid for work done!

Sarah

Re : How Does Debt Collection Work?

Tim - I would suggest you could contact a couple of collection agencies and ask them to send you information if this is still relevant - or failing that it may well be that they have FAQs on their sites as I'm sure these are the sort of very common questions that most people who are thinking about taking such action have.

Chris

Re : How Does Debt Collection Work?

Thanks, Chris

Re : How Does Debt Collection Work?

Hello Tim,

I am very new here so first of all hi !

I have a facility that gets debt back for you, if you are interested in hearing more then just reply

Sandra Vee