picture of business man writing the "why" of part of the question why do businesses sit on ageing debt.

Ageing debt – why do businesses sit on it?

In the UK alone in excess of £50 billion is tied up in overdue payments. Despite this companies are reluctant or slow to take third-party action to collect their cash.  Keen to understand what the barriers are to making a decision to outsource, we conducted a poll on LinkedIn, and asked our network why so…

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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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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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image to of judges gavel to show the role of legal action in debt recovery process

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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UK Debt Collection Industry Trends 2022
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