what are the fees and charges for debt collection?

What are the fees and charges for collecting outstanding debts?

Unsurprisingly one of the most common questions asked of our sales team is “what are our fees and charges for collecting outstanding debts?” Whilst most businesses only require debt collection services when all their own efforts at retrieving what is owed have been unsuccessful, no-one wants to overpay for a service. Although conversely, it could…

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picture of a hand holding a visual depiction of articificial intelligence

How AI is transforming Cash Collection

We are entering a new era of generative AI that is set to revolutionise the world as we know it. Latest predictions from McKinsey suggest that generative artificial intelligence will contribute a staggering 4 trillion dollars to the global economy and is “poised to unleash the next wave of productivity” Although generative AI is transformative and…

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Role of Legal Action in Debt Recovery

When a debtor is refusing to pay, a formal notice of proceedings can prove very persuasive. However, the decision to move to legal action should never be taken lightly. Taking your customers to court is likely to close the door on any potential future business. At Barratt Smith and Brown we consider the role of…

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Energy price-cap to rise amid volatile gas market

Energy regulator Ofgem announced on 23rd November that the Energy Price Cap will rise by 5% in January 2024.  This means an average household will pay another £16 per year – approximately £1.33 a month on top of already highly inflated energy costs.   Why is it increasing? The energy price cap rise is in…

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