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Which debt collection service is right for you?

A good debt collection agency will offer a range of right-sized solutions tailored to different clients, from major corporations and SMEs to public sector organisations and educational establishments.

Choosing the right debt collection service to suit your needs means asking yourself a few simple questions...

Would you like a flexible approach, with assistance as and when you need it?
Maybe you only have a small number of debtors who are at risk of default, or maybe you simply need help with chasing one payment that's proving particularly difficult to collect. If so, working with a debt collection agency on a case-by-case basis is probably best for you.

As for fees, it's wise to choose an agency that works on a no collection, no commission basis, so you won't have to pay a joining fee or make an up-front financial commitment. As the agency only gets paid based on results, it's in their interest to recover the debt as quickly as possible, and you don't have to worry about costs escalating if it takes longer than expected to get payment from the debtor.

Do you need more regular support with debt collection?
The next level of service is for businesses and organisations that more frequently need help to recover unpaid debts. In return for a more substantial commitment, you should expect additional features and benefits from the debt collection service, such as preferential commission rates, a service level agreement (SLA), more detailed progress reports and smart online analysis tools.

The agency should also be able to offer you tactical support for your finance team, perhaps to help them clear a credit control backlog or during particularly busy periods such as financial year-ends.

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Do you have a large number of credit accounts?
If you operate a high-value sales ledger with a large number of debtors, you can choose a premium service and ensure your credit control processes are carried out efficiently and cost-effectively in line with pre-agreed workflows. Benefits can include more accurate forecasting, reduced admin pressure on your in-house team and proactive debt management.

Are you an independent school?
All educational establishments have a valuable reputation to safeguard. When you choose to work with a debt collection agency, it's important to be sure not only that they'll be effective, but that they'll also protect your reputation by maintaining the highest standards of integrity and professionalism. For complete peace of mind, the simplest answer is to work with an agency which has extensive experience of debt collection on behalf of schools and understands the unique dynamics of the sector.

At Redwood Collections we offer three solutions for debt collection services: our entry-level, no-commitment Collections service, an enhanced Collections Premier option and Collections+, our premium service designed for customers with a high volume of debtors and extensive credit control commitments.

We're also highly experienced in debt collection for independent schools. We work with more than 700 schools and trusts and have a well-established reputation for achieving results, while always acting with the utmost tact and probity.

Whichever service you choose, working with Redwood Collections will help your business or school Grow Stronger.

How can we help?

From one-off bad debts to ledgers that require more regular attention, we’re here for you.

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