Our 778 B2B clients come from 97 different trade sectors, and the number with or without credit insurance is similar, reflecting that we support six credit insurance underwriters. 83% of debts placed are for UK debtors, 17% for international debtors, covering 158 countries worldwide. We recovered three-quarters of all foreign monies collected from the UK, saving clients the extra cost of agents overseas. 60% of all international debts placed is for EU countries, a significant increase possibly related to Brexit and concerns about the UK’s final decision.
The Late Payment of Commercial Debts Act proved a great benefit to clients as we collected more than half our collection costs from their debtors, plus interest, the combination of these two elements reducing clients’ cost of collection by more than 60%. As might be expected, our collection success remains much higher for debts placed no later than 90 days past their invoice due date, performing more than 50% better than debts older than this.
Find out more about our Commercial Debt Collection service.