The Best Debt Collection Agency in Cardiff

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The Best Debt Collection Agency in Cardiff

In the United Kingdom, there are hundreds of thousands that face financial issues every year.

These can include lack of income, bad credit, credit card payments, lack of savings and many more.

In Cardiff and Wales specifically, unpaid UK debts are among the most common financial problems that people face.

The population of Cardiff alone is over 345,000, which produces a higher chance for people to owe money.

There are many different situations that apply to the owing of money, including:

• A business client has left invoices unpaid following a service that was provided.
• A self-employed individual has not been paid by their customer.
• A friend, family member or ex-partner has borrowed money and not paid.

These are only a small number of a large number of scenarios and shows how prevalent the owing of money is.

It is a sad reality that a friend or client, who you trust, could become a debtor almost instantly if they do not pay you back.

It is worth noting that you should not be caught out by collection agencies that promise “no win no fee” services.

Knowing how to recover money is a challenge in itself, however, there are many things you can do to prevent needing this.

Debt Collection Agency UK – Preventing Cardiff Debts

Before you need to find the best debt collection agency in Cardiff, there are ways you can prevent this.

Preventing debts in the first place can help reduce the need for sheriff officers, county court judgments and other legal methods.

It is important to remember that prevention is always better than a cure.

Taking measures, such as implementing new credit-control system procedures, can be extremely beneficial.

Examples of this include adding payment terms to service agreements, interest on overdue payments, regular communications and credit checking.

Payment terms are signed agreements between the original creditor and the client that state when the invoice is to be paid.

Should an invoice go unpaid for more than 14 days, interest can be added which could help push the debtor to pay the debt.

These methods could greatly reduce the risk of needing to take court action or use other debt collection services.

There are only a number of working hours from Monday to Friday that should not be wasted collecting debts.

If you have tried the above preventative measures and still have money that is unpaid, you need to speak to the professionals.

In Wales, there are many different collection agents to choose from depending on the type of debt you have.

We have put together this guide to assist you in choosing the best agency for you.

The Best Commercial Debt Collection Agency in Cardiff

If your business has carried out a service for a client and they have not paid, this is classed as commercial debt.

It has been reported that around 30% of invoices are not paid within the agreed terms.

The leading commercial debt collection agency in Wales and the UK is Federal Management.

They are also authorised and regulated by the Financial Conduct Authority (FCA) to recover debts under the Consumer Credit Act.

This demonstrates the calibre of the collection process that they provide.

Since 2004, they have collected millions of pounds worth of debts for businesses in Cardiff and Wales.

The Best Private Debt Collection Agency in Cardiff

Money owed by any individual, such as a customer or family member etc, is classed as personal debt.

These make up a large percentage of the total number of debts that occur in Cardiff.

Our recommended private debt collection agency is Frontline Collections.

Since 2005, they have collected debts in all sectors including Nurseries, Dental Practices, Independent Schools and Vets.

As such, they have been recognised by the Independent Schools Association (ISA), being awarded the title of “gold preferred suppliers”.

If you are self-employed and have not been paid, you should choose Frontline Collections to recover your debts.

The Best International Debt Collection Agency in Cardiff

Both of our recommendations above are also the best choice for collecting overseas debts.

International debt collection is commonly known as the most difficult form of money recovery.

This is due to the distance and various other barriers that overseas debtors pose.

You may need debt collection in Egypt, Australia, or France – the specialists we recommend can help.

Dept collectors such as Frontline Collections have expert training required to collect these types of debts.