Debt Collection Agency

swanvill

Hi can anyone recommend a good debt collection agency?

dbran

Hi

I use AR Solutions when I need to and find them quite good.

www.arsolutions.ie

No connection with them.

Kind Regards


Dbran

ssbob

swanvill wrote: »

Hi can anyone recommend a good debt collection agency?

Are you having specific problems or just looking to outsource this side of your business?

swanvill

We have small number of problems and our bad debts would probably be 0.2% of our turnover.

We have strong procedures and manage our credit limits well so bad debts tend to be €500 or less a year per case. What I have found in the past when you have a €2k problem you can hire a solicitor and in one instances we have registered a judgement against a customer but he has just ignored everything. We have hit our spending limit on trying to recover the money but customer does not care and will happily go into Stubbs Gazzette. TBH I found the legal route fairly ineffective and our Solicitor tried to settle one case where the funds received would have covered his fees & bugger all. I have used a debt collection agency on a couple of occasions and they win about half of them.

In short would not consider outsourcing the entire functions but looking for someone to do the 90 day plus stuff.

ssbob

swanvill wrote: »

We have small number of problems and our bad debts would probably be 0.2% of our turnover.

We have strong procedures and manage our credit limits well so bad debts tend to be €500 or less a year per case. What I have found in the past when you have a €2k problem you can hire a solicitor and in one instances we have registered a judgement against a customer but he has just ignored everything. We have hit our spending limit on trying to recover the money but customer does not care and will happily go into Stubbs Gazzette. TBH I found the legal route fairly ineffective and our Solicitor tried to settle one case where the funds received would have covered his fees & bugger all. I have used a debt collection agency on a couple of occasions and they win about half of them.

In short would not consider outsourcing the entire functions but looking for someone to do the 90 day plus stuff.

I understand your hardship, I guess this is the harsh reality of doing small business with people. Small claims court is another option where you can go in yourself but hardly worth the effort.

I guess if your procedures are as strong as you say then debt collection is the next step, saves you money on admin while at the same time allowing you recover part of the money owed.

Don't forget to claim the VAT back on the Bad Debts.

thecommander

ssbob wrote: »

Small claims court is another option where you can go in yourself but hardly worth the effort.

Small claims court don't deal with debts.

swanvill

Thanks to all for all their advice

skimpydoo

Have you tried http://www.viperdebtrecovery.com/ ?

ted1

skimpydoo wrote: »

Have you tried http://www.viperdebtrecovery.com/ ?

I don't think that sending out one of Ireland's best known criminals to collect debts would be of benefit to any company. He may collect the debt but you'll find people may be reluctant to do business with you in future

racso1975

ted1 wrote: »

I don't think that sending out one of Ireland's best known criminals to collect debts would be of benefit to any company. He may collect the debt but you'll find people may be reluctant to do business with you in future

But if you have to send a debt collection agency to these customers are you gonna want to business with them again anyhow??

I do however agree viper might not be best idea

ted1

racso1975 wrote: »

But if you have to send a debt collection agency to these customers are you gonna want to business with them again anyhow??

I do however agree viper might not be best idea

Yes I would do business with them but on a cash basis. Strictly no credit.
Also if word gets around that you employ unsavoury characters you may scare off new customers

skimpydoo

ted1 wrote: »

I don't think that sending out one of Ireland's best known criminals to collect debts would be of benefit to any company. He may collect the debt but you'll find people may be reluctant to do business with you in future

I was showing that if you want to make sure your debt is called in you use what you can. How will future customers know who you use and besides if someone is worried about you use the, can they afford to pay you?.

I dunno looks like The Viper has gone soft!! http://www.independent.ie/irish-news/the-viper-weds-partner-in-private-island-ceremony-29639731.html