Debt Collection Letter: Why Else?
Else Solicitors will
- Minimise the frustration and problems associated with late payers
- Free up the time your finance team spends chasing debtors with e-mails, letters and phone calls
- Develop a tailor made debt collection strategy for your business – including the wording of the letters sent on your behalf and our approach when phoning your debtors
- Convert outstanding payments into cash relatively quickly
- Fast track your invoice payment by sending out a debt collection letter within 24 hours receiving the debt details from you
- Reduce your need to pursue debts through the Court. Litigation can be a long process and we focus on avoiding this where possible
- Add the appropriate late payment fees, interest and collection costs
- Even collect payments from people and businesses you have given up on including tracing them and negotiating payment terms.
You can chase a debt for 6 years after it was last acknowledged. Many businesses have old debts that they have stopped chasing even though, with the right approach, the money can still be collected.
You can relax knowing that we have:
- Experience in credit management
- An impressive 95% success rate using only debt collection letters
- The reputation and legal weight to get your late and bad debts paid quickly (where possible).
- The ability to move immediately onto a court claim if this approach fails
- Flexible approach to fees based upon making the debtor pay and a “no collection- no charge” policy option if required
- An enviable reputation for always going the extra mile and offering a personal, jargon free service.
Do you recognise this common scenario? Your accounts team issue an invoice for your products or services.
They then issue a statement a few weeks later, then a reminder and final reminder after that. They then reluctantly picked up the phone and try to talk to someone with no luck. After a few more calls and a letter or two threatening legal action, they give up.
The problem is that many businesses and individuals simply ignore invoices, statements and demands from companies. They don’t take you seriously until a solicitor becomes involved. It is a waste of your finance team’s time to chase these debtors who are never going to pay you until a solicitor contacts them.
We can chase these debts effectively for you and add on the appropriate charges for commercial debts. This includes:
- Late payment charges
- Statutory interest (currently 8% pa)
- Reasonable costs for collecting the debt
The strength of Else’s reputation and the legal weight it can bring to bear is such that many companies and individuals paying after the first letter. 95% of our client’s debts are collected using letters only.
Debt collection letters are a quick way to turn old debts into paid invoices. The charge for them can be added to a commercial debtor’s invoice (in most cases).
As the letters are from Else you not only benefit from our added weight, but you can maintain your relationship with your late payers should you want to. We aim to be the experienced and
responsive partner you need to
look after your business interests
whilst protecting your reputation.
What We Do Best
Major travel brand PGL had been chasing a debt of £4,500 for several months. Else issued one letter demanding that the debt including PGL’s legal fees be paid within 72 hours or an application would be made to liquidate their holding company.
Rosemary Wheeler-Jones, Credit Controller of PGL Travel Ltd said:
“The debt details were emailed across on the Thursday and within a week the full balance including costs was credited to PGL’s bank account.”