Learn more about DebtLaw uk, Understand What Gives Us An Edge and Our Approach to debt collection
DebtLaw uk are specialist Debt Recovery Lawyers and a division of leading law firm Bowden Jones Solicitors presently headquartered in Cardiff.
We are contemporary debt recovery lawyers and hold tight to our roots as a duel regulated business, meaning we are authorised and regulated by the Solicitors Regulation Authority (SRA) and the Financial Conduct Authority (FCA). We bring a breadth of experience and a range of services to the recovery of delinquent debt (receivable) accounts and significantly our duel regulated status enables us to act on behalf of clients recovering Consumer Debt and/or Commercial Debt, both Nationally and Internationally.
We have over 20 years’ experience in collections and one observation that DebtLaw uk has learned in the past two decades is that the needs of our clients can vary a great deal. Our responsibility is to analyse and understand what all our client requirements may be.
We can provide debt recovery services for different types of accounts or specialties. We have considerable expertise in volume recoveries both on Regulated and Non-Regulated. We have managed a wide range of debts from forward flow to second and third placement contingency collections, including Landlord, Healthcare and Utilities.
DebtLaw uk can provide you with professional, cost effective debt recovery services tailored to your business needs, a flexible charging structure offering competitive pricing and re-assurance of an ethical and comprehensive approach to robust collections practice. Our processes have undergone rigorous scrutiny by supplier vetting as a panel provider for Debt Purchasing Portfolios.
A key factor in our approach is whether or not you would like to maintain a relationship with your customer. Our recovery methods ensure we protect your reputation and ours.
We have identified three key elements that stand out when considering recovering an unpaid debt which are:
Our highly trained and experienced collections team are dedicated, self-motivated and committed, combining the skilful use of negotiation techniques using emotional Intelligence which enables them to develop a rapport with your customer and obtain the right payment outcome for you. Our negotiators are courteous and professional, understanding the importance of “first contact” with a customer, sets the tone and therefore the utmost in professionalism is required to gain their co-operation first and foremost.
If the debt arises from Commercial Debt or Consumer Debt, Our collectors will work with you to achieve the best possible outcome and provide practical advice to help you recover the full amount of the debt expediently and with minimum cost.
Based on our Industry Expertise, we will provide a contingency collection service that is analytically driven simplifying volume processes such as payment monitoring to capture paying and non-paying accounts, debt management and dividends paid out on Individual Voluntary Agreements or Insolvency matters.
Technology plays a large part in debt recovery. With this is mind our systems deliver responsive and flexible processes allowing us the ability to manage a complex debt recovery service from pre-legal action through to legal action whether individual debts or bulk instruction. We utilise technologies in text messaging, payment solutions and tracing to provide optimum performance efficiency and effectiveness.
We continually evaluate development in the latest systems and business processes, to deliver innovative products and services in the debt recovery industry.
Maximise your recoveries via our sophisticated case management system, we operate a catalogue of Pre-Legal collections workflow strategies Our system integrates accounts that require action using our bespoke workflows, involving a combination of letters, emails, SMS, and calls. This manages debts more efficiently to enable a higher rate of recovery, control, and flexibility which minimises manual involvement and produces a higher quality of data.
DebtLaw uk accepts data by electronic file formats or manually entered files. Our technology allows for customisation to meet client needs.
Progressive customer workflows are generated utilising clever segment modelling techniques and analysing individual cases enables us to target our contact approach strategies based on a customer’s ability to pay. Our workflows allow flexibility to fast track a collections cycle or extend it depending on the type of debt or client requirements. This process will examine credit data, socio-demographic information and client information and involves the use of numerous data sets, to provide the right outcome for each Client.
Intelligent tracing and staying in touch with your customers. Part of our Pre-Legal strategy includes tracing a new address or verifying existing address once we have been notified of a wrong address or receive returned post. Our tracing process will drive the account through our tracing technology identifying any new telephone numbers or email addresses. If this provides negative results, we can utilise a panel of trace investigators, thus increasing trace productivity.
Smart use of SMS technology through use of our SMS platform. It provides efficiency through predictive text messages which can include a payment link or diary notification and operates as part of our processes.
We provide a discreate online payment portal accessible 24 hours a day 365 days a year for customers to make a payment themselves providing flexibility to manage their account. It will allow customers the option to set up a continuous card authority for weekly or monthly payments. Customer payment protection is guaranteed using technology that protects card details, and the storage of the details in the system.
The debt collection and recoveries industry is a heavily regulated industry and ensuring compliance an on-going process. DebtLaw uk works hard to maintain strict compliance with all governing laws and regulations that includes the Financial Conduct Authority (FCA) stringent code of ethics and the Solicitors Regulatory Authority (SRA). We ensure pro-active compliance by controlling the whole lifecycle which are integrated with the FCA’s Policies and Procedures and by doing so protect the interests of both Clients and Customers. FCA Regulated and Authorised (DebtLaw uk)
We monitor and audit our processes ensuring we meet new updates to applicable regulations and guidelines.
DebtLaw uk prides itself in communication to clients and provides reports as needed by our clients. We create bespoke reports supporting a range of outputs to meet client’s operational requirements.