What Does Debt Recovery Do

Debt recovery is a term that you are likely to have encountered, whether you are a company selling goods/services or a consumer purchasing goods/services. Put simply, debt recovery is a term used to describe the process of recovering money that a debtor (the private or commercial customer) owes to a creditor (the seller/service provider).

The statistics

It is a concerning fact that debt continues to plague the UK’s SME sector, with statistics highlighting that some 43% of invoices sent by freelances and small businesses between June 2022 and June 2023 were paid late, or not paid at all. Late payments can put freelancers and small businesses under significant financial strain, as a steady stream of income is pivotal to maintaining a healthy cash flow. 

In today’s economic climate, keeping a business a-float is a challenge in itself, as the country continue to feel the impact of high interest rates and the cost-of-living crisis.  Add late or non-payments into the mix and this could push an individual or small business into the realms of bankruptcy.    

what help is out there

If you are struggling to recover what is owing to you, then it’s time to act before your business reaches breaking point…

Here at Jackson CRS, we appreciate that many freelancers and SMEs simply do not have the resources to throw at debt collection, so we are here to support you in any way we can.

We operate on a no-win, no-fee basis when collecting debts during the pre-legal stage, so signing your debts over to us is entirely without risk.

what do we do

We are skilled negotiators and will make contact with the customer within 48 hours of the debt being signed over to us.  Our goal is to recover the outstanding sum in the fastest time possible, either in full, or via an agreed payment plan if this is something you are in a position to offer. 

If the customer is not happy with the goods or service(s) you have provided, then we are also experienced mediators and will act as an impartial third party to resolve any outstanding matters, quickly and efficiently.

Our team of debt recovery specialists are ready to give you a working demonstration on what debt recovery really does.

maintaining positive relations

We always try to take the sympathetic approach, as we understand the importance of maintaining positive business-customer relationships.  However, if you would like us to take a firmer stance, then we are more than happy to oblige. With so many tried and tested strategies up our sleeve, outstanding debt does not have not have to spell the end for your business.  Many customers will settle in full following our initial phone calls and emails, but if we need to send the pre-legal letters, then with your authorisation, we will do this. We will do whatever it takes to recover what is owing to you as this is what debt recovery does.

Contact Us

If you would like to put your business in good stead for the future, then please give us a on call 01603 319034 or email: info@jacksonscrs.co.uk for a free no obligation chat about your needs and how we can help.