Collecting debt on a business level...
Our commercial debt department is highly experienced in handling debt recovery from small businesses to international commercial enterprises. We specialise in taking complete control of the case, quickly understanding the business dynamics and driving through measures to achieve swift resolution. Clients can get on with their day-to-day business, confident that Redwood Collections is successfully handling its credit management and late payment issues.
Members of the Credit Services Association, we have extensive expertise in both direct collection and legal action against debtors. From initial telephone calls through to issuing Winding Up or Bankruptcy Petitions, we pride ourselves on achieving up to 80% pre-legal success rate across 90% of our commercial clients.
An approach that gets results
Our professional and detailed approach to each case often unearths the real reasons behind non-payment. Every commercial debt is treated individually and our dedicated account managers will liaise with clients to ensure a business sensitive or entirely third party approach is adopted where required. In many circumstances we can mediate a resolution and negotiate a mutually agreeable settlement for both parties. If a resolution is not forthcoming we will quickly escalate to a Statutory Demand as precursor to full insolvency proceeding or County Court Action for smaller or disputed debts.
Redwood Collections undertakes commercial debt recovery on a ‘no collection, no commission basis’ with typical commission rates of 15% of the sum collected subject to debt scale and negotiation. We regularly implement the Late Payment of Commercial Debts (Interest) Act 1998 on commercial debts. This can partially offset any irrecoverable collection costs to clients and may absolve these costs entirely on low value debts.
Call us on 0208 288 3555 for more information and let us help recover your debt.
Redwood Credit Management
Our Redwood Credit Management division has been specifically designed to address debt issues among clients that need to improve their cash flow yet fear losing or alienating a valuable client. Our approach is professional, assertive and polite, acting as a perceived neutral third party to reduce any direct client/customer tension. Our experienced Credit Management team employs Redwood Collection’s best customer facing debt collectors and, in high value cases, dedicated management negotiators.
As a fundamental part of Redwood Credit Management’s portfolio of services we take time to understand our client’s service or product offering, to ensure swift resolution of queries. We proactively monitor and chase our clients for information on each case as required, producing a documented report as part of proceedings. By engaging in this two-way communication we can quickly resolve minor issues and queries.
If no real query exists and your customer is simply delaying payment, we can seamlessly initiate full proactive chasing procedures under the Redwood Collections banner. Should the case reach a legal stage the query report will provide justification for action and you will be able to demonstrate that all reasonable steps have been taken to resolve the issue prior to court action. Swift query resolution and reporting works exceptionally well for larger businesses and has underpinned Redwood Collections’ ongoing partnerships with major corporate clients and institutional clients.
Redwood Credit Management’s mediation process is a natural extension of our query resolution expertise and business sensitive approach. By previously agreeing settlement parameters with our client we can often reach a mutually acceptable resolution without having to halt the process and seek instruction. In many cases the debtor will accept settlement as a means to draw the matter to a close even if there is an outstanding issue with the client’s supplied goods or services.
By understanding our client’s business and approaching the debtor as a professional third party mediator the debt resolution process time can be cut dramatically. Both parties derive an acceptable outcome and in many cases business between client and customer can resume unhindered. Should the mediation process fail to deliver an accord and legal action is instigated, the client is able to demonstrate that reasonable steps were taken to resolve the case prior to legal action. Mediation has proven a very successful method of debt resolution for many of Redwood Credit Management’s key clients, delivering swift results and lower overall costs.