Third-party intervention is a strong suit in debt collection. If your customer is not paying you to terms, they are likely to be doing the same with other creditors. As your customer increases its debt across multiple suppliers, so your chances of being paid slip further away. Time is of the essence: for payment tomorrow, escalate today.
Third-party intervention is a strong suit in debt collection. If your customer is not paying you to terms, they are likely to be doing the same with other creditors. As your customer increases its debt across multiple suppliers, so your chances of being paid slip further away. Time is of the essence: for payment tomorrow, escalate today.
Getting started
We check the solvency and liquidity of each commercial account you place with us for collection. It is crucial our collector understands your customer’s ability to pay, and negotiate from a position of strength. They deal quickly with spurious excuses for non-payment, challenge cash flow claims and record broken promises as your customer’s admission of debt.
Potentially free to you
With all of our recovery team fully trained and up to date with the latest business to business debt collection rules, we add Late Payment Act interest and collection costs to each commercial debt placed meaning that, when paid, our collection is free to you. The speed of recovery is essential to you, so we review our actions after 28 days, and make our recommendation to you if the account remains unpaid.
Legal action as a last resort
Our amicable recovery efforts minimise the need for legal action, saving you time and extra cost, though we may recommend legal action as a last resort. We charge you commission for amicable and legal recoveries, remitting collected funds to you every two weeks by BACS. For more information, including the latest tariffs, see Legal Debt Collection.
Keeping you in the loop
With your DSO to protect, our actions are prompt, persistent and conclusive. We earn commission on monies recovered, so it is in our best interest to get you paid as fast as we can. For your peace-of-mind, our reporting portal Your Debts Online keeps you in touch with our progress 24/7.
Accreditations & Benefits of using STA.
Case study.
Client: Leading UK Broadcaster
Debtor: UK B2B TV Production Company
Debt: >£400,000
Time Line: Debt placed in February 2021 and principal Paid in full February 2021
Activities:
4 letters
8 telephone contacts with debtor
3 telephone calls from debtor
20 emails to debtor
17 emails from debtor
Summary:-
Our client was still supplying its UK debtor despite invoices outstanding for 11 months. The debtor claimed queries on some of the invoices had remained unanswered so they withheld payment on all invoices raised since their query. We committed to answer their queries conditional on them paying the uncontested invoices immediately. They paid £84,000 3 days into our handling of the account and, after satisfying their queries, the balance 5 days later. After continued negotiation, almost £10,000 of late payment interest and compensation was also collected.
Full transparency.
As an STA debt collection client, you will have access to ‘Your Debts Online’ (YDO).
YDO gives you a clear view of what we are doing with the accounts you place with us for collection. Secure password-protected, you can see our overall collection success; the status of every debt, including agent notes, your invoices and statements, and the charges made on each account placed.
