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Answering the most frequently asked questions about debt collection
Below, we’ve collated a list of some of the most frequently asked questions regarding B2B debt collection, as well as links to blogs where you can find out even more.
Not having a signed contract doesn't excuse non-payment.
In the absence of a written agreement, pursue recovery using the legal principle of 'unjust enrichment.' This means that no person or company should be able to profit at another's expense without making restitution for the reasonable value of any goods, services or other benefits that have been supplied to them.
You could start by contacting the debtor to resolve any issues, then send a detailed letter outlining the verbal agreement, work description, and payment terms.
If the debt persists, consider legal action, starting with a 'letter before action' or court proceedings if needed.
For undisputed debts over £750, a winding-up order may be pursued.
Professional assistance from a debt collection agency, skilled in both recovery and legal processes, can greatly facilitate the resolution.Top of Form
Find out more in our blog: https://www.redwoodcollections.com/blog/what-if-a-debt-is-overdue-and-no-written-contract
To initiate the debt tracing process or perusal of a debt all you need to provide is the invoice, contract, or confirmation of a verbal agreement, along with the debtor's name and their last known address.
Yes, we can.
International debt collection involves a two-stage process.
Initially, a professional debt collection agency operates from the UK, attempting contact through calls, texts, and emails during the debtor's business hours.
If unsuccessful, the agency engages a local partner in the debtor's jurisdiction, leveraging their understanding of local language, culture, and legal protocols. This localised approach increases the likelihood of debt recovery.
The agency then assesses the feasibility of legal action, considering whether proceedings should be initiated in the UK or overseas based on contractual terms. If legal action is deemed necessary abroad, the agency's local partner provides expert support, ensuring compliance with local legislation for a successful outcome. Top of Form
There’s more information on how international debt collection works in our blog: https://www.redwoodcollections.com/blog/how-does-international-debt-recovery-work
