Frequently Asked Questions About Our Services
When outsourcing your debt recovery for the first time, many people are apprehensive and unaware of what actually happens to their debt.
TRUST is key to starting a successful working relationship between businesses. Unfortunately in our industry, many people have very negative perceptions of debt recovery. This is based on the actions of a small number of unethical and unscrupulous companies. This is partly due to the fact that the commercial debt recovery industry is unregulated. There is nothing in place to stop companies from stealing client money, closing the company and re opening under a different trading name.
Here at Darcey Quigley we wanted to change this perception and overcome this objection by becoming regulated. Last year we were approved by the Financial Conduct Authority. Operating solely within commercial debt recovery, Darcey Quigley are not legally required to be registered with the FCA. However, to ensure we hold ourselves to the highest standards the business took the bold step to progress with the FCA Application.
Here are some of the most common questions we get from people who have never used debt recovery before:
Can I Charge Additional Interest and Recovery My Debt Recovery Costs?
Yes. You are entitled to add interest, compensation and reasonable costs to your outstanding debt. (See our Late Payment Guide for further information on your options).
I Want To Continue To Work With My Debtor, Will Using You Service Ruin Our Relationship?
Maintaining a relationship with their debtors is a priority for the majority of our clients and we tailor our approach to ensure brand protection. Outsourcing allows you to remain impartial and to keep your professional relationship intact.
When Should I Instruct a Debt Recovery Agent?
There is no hard and fast rule for this but industry results show that the earlier a debt is passed to recovery, the higher the success rate is likely to be. In our view, the passing of an aged debt to a recovery agent is a key element of a company’s in-house credit control department.
What Will You Do That I Can’t To Recover My Debt?
Outsourcing has been proven to be the most powerful solution to recovering aged debt because it removes the familiarity between client and debtor and allows you to benefit from the expertise our Credit Management Consultants have in recovering outstanding debts.
Will I incur charges if you work on my case and you cannot get the debt paid?
We will work on collecting your debt as long as we think we can be successful and it is retrievable. If we have exhausted all avenues and every conceivable approach to collect your debt, we will then discuss what options are now available and the pro’s and con’s of those approaches. At this point we will close the case – NO FEES will be due in relation to the case. The only fees you may incur which could be due would be if you opted for any auxiliary services such as Bailiffs, tracing services or Sheriff Officers.
What happens if me debtor does not pay the interest, compensation or reasonable costs ?
We will work tirelessly to retrieve all costs associated with your debt which. These costs are what you are legally entitled to claim from your debtor. However it is not always possible to enforce these costs without potentially incurring additional costs or having to pursue these through legal channels. We have a 63% success rate in recovering these additional costs which usually results in our services being paid for by your customer and you receiving our services at no cost.
Outsourcing has been proven to be the most powerful solution to recovering aged debt because it removes the familiarity between client and debtor and allows you to benefit from the expertise our Credit Management Consultants have in recovering outstanding debts.
