Master Club from Master Collections

The award winning credit management solution

Debt collection services for insolvency practitioners

Master Collections supply leading No Collection No Fee debt collection services tailored to the needs of insolvent businesses in the hands of an Insolvency Practitioner. We have worked with Insolvency Practitioners of well-known firms including BDO UK.

Instructions are received in bulk format electronically and letters of claim sent out subject to the Insolvency Practitioner's approval. The Insolvency Practitioner is allocated an experienced account manager that is a Legal Executive who reports at each stage of the process.

As a result Master Collections are able to maximise recovery rates and produce results relatively risk free quickly and cost effectively. Master Collections has a track record of producing excellent results for Insolvency Practitioners.

In just 3 months Master Collections collected 95% of the debt instructed without the cost and stress of legal proceedings.

BDO - the challenge

BDO is the award-winning UK member firm of the BDO international network, the world's fifth largest accountancy organisation, with more than 1,000 offices in over 100 countries. In April of this year the business restructuring division of BDO (UK) approached Master Collections looking for a debt recovery service that could recover aged debts beyond 1 year old for a company in administration.

The Solution

Working on a No Collection/No Fee basis Master Collections developed a bespoke process in consideration of the difficulties collecting stale debts. Instructions are received in bulk format electronically and letters of claim sent out subject to BDO's approval.

BDO are allocated an experienced account manager that is a Legal Executive who reports at each stage of the process. It became clear after achieving a nil recovery rate from the first letter that there was a need to escalate proceedings. As a result of the experience and expertise of the account manager Master Collections formulated an effective strategy that achieved a high success rate.

The Results

In just 3 months Master Collections collected 95% of the debt instructed without the cost and stress of legal proceedings.

What the Client Says

"As Joint Administrators of an electrical distributor we were presented with the remains of a significantly aged debt ledger following a successful collect out by the incumbent invoice discounter. We approached Master Collections and, due to the anticipated difficulties of collecting aged debts, agreed a No Collection No Fee process.

"Despite the ageing of the debts Master Collections were able to achieve a recovery rate of 95%, over a short period of time, representing an excellent return to the Administration estate. The speed and flexibility of the approach taken by Master Collections, coupled with the excellent recovery rate, has provided us, as Insolvency Practitioners, with a relatively risk free and efficient solution to a difficult debtor collection."

William Turner, Business Restructuring Director BDO (UK)

Do you want the same results? Call 01920 871547 now for a free one hour consultation.