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Choosing a debt collection agency: What 'no win, no fee' really means
When you're searching for a debt collection agency to help get back money you're owed, you might also come come the phrase "No Collection, No Commission", but what’s the difference? On the surface, it may seem like both of these guarantees mean that you only compensate the agency if they successfully…
VIEWA guide to debt collection for small businesses
This issue especially with SMEs, often stemming from late or ignored invoices, can impact cash flow and the overall financial health of a business. While managing a few delayed payments might be feasible initially, even the most robust businesses can find themselves struggling if the problem persists. The Impact of Late Payments on Small Businesses…
VIEWProtecting your school: inside ParentCheck+
That's why we’ve produced ParentCheck+, a comprehensive screening solution designed to protect your school from potential risks and uphold your reputation. Let's dive into how ParentCheck+ works.Guard Against Potential Problems EffortlesslyParentCheck+ is your go-to service for conducting powerful batch screenings of your customer list, ensuring your school isn't unknowingly associated…
VIEWUnderstanding CCJs
The government’s Civil Justice Statistics October – December reported that judgements were up 17% in 2023.CCJs play a pivotal role in the debt recovery process by providing a formal legal mechanism for creditors to enforce payment. But what is a CCJ for? And how does it work? This is part two of…
VIEWBalancing sensitivity and financial stability in funeral services
In this blog, we delve into the unique financial challenges faced by the funeral industry, from rising expenses to the sensitive task of debt collection. With the emotional demands of their work, funeral directors must strike a delicate balance between financial stability and preserving relationships with those in mourning. Let’s…
VIEWWhat is debtor tracing and when do you need to use it?
Whether the debtor has changed addresses, altered contact information or has simply disappeared, tracking them down is crucial for the recovery process. This is where debtor tracing comes into play.So what is debtor tracing?Debtor tracing is the process of locating individuals who owe money but changed residences. It involves using…
VIEWUnderstanding Pre-action
In the first part of this three-part series, we’ll explain some of these terms, ensuring you have a clear understanding of the pre-action protocol in debt recovery. By the end, you'll feel confident in knowing the necessary steps and when to take them. What is pre-action protocol? Pre-action are the steps that…
VIEWTurn Your Bad Debts into Revenue with BRANCH
BRANCH is a Redwood product that purchases your bad debt, transforming your underperforming assets into revenue streams. Here’s how we do it:Step 1: Assignment and analysisFirst, assign your ledger of outstanding bad debts to us. We legally take over the ownership of these accounts, relieving you of the administrative burden of…
VIEWUnderstanding Enforcement
In the final part of our three-part series around the civil claim lifecycle, we’ve answered the most frequently asked questions around enforcement and broken it down into less technical language. What is enforcement? Enforcement is the legal process used to ensure that a debtor complies with a court order to pay a…
VIEWRelease of Retention in Construction: What You Need to Know
Retention payments are typically 5-10% of the contract value held back until later, often causing cash flow headaches. They’re meant to ensure quality, but they can also mean delayed payments and extra hassle with many main contractors dragging their feet on paying out.We understand these challenges, with over £15m collected…
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