Master Collections has a track record for collecting debts quicker than solicitors and where other debt collectors fail.
Subject to a Debt Collection Passport, customers will receive an award winning no-collection no-fee service for a period of five years, with the following benefits per outstanding account: -
Look at the key benefits:
A few of the successful cases we have worked on include:
Italian debt collection
Master Collections offers debt collection options for Italian speaking companies based in the UK, or to collect debts in Italy. Please contact us for further information.
Call us on 01920 481467 to find out how we can help you collect your outstanding debts.
Hiremech supply fork lift trucks and warehouse equipment with an annual turnover of £4 million. Hiremech was owed £4582 by a blue chip company in unpaid rental charges for a battery powered van. As a result of the issue of legal proceedings for the recovery of unpaid rental charges, the blue chip company issued a defence and counterclaim on the basis that the van was not of a satisfactory quality.
The blue chip company instructed solicitors who requested that the matter be allocated to the fast track. Client did not want to run the risk of paying the solicitors costs if they lost and instructed Master Collections to allocate the claim to the small claims track where costs are irrecoverable.
The court set a case management conference to determine allocation where with our help the client successfully had the claim allocated to the small claims track. At the small claims hearing the judge agreed with our submission that the issues surrounding the claim could not be determined without an expert and ordered the appointment of a joint expert much to the disappointment of the blue chip company. The hearing was adjourned and a settlement was reached out of court for the full sum claimed.
What our client said
Hiremech Group have been associated with Master Collections for the past three years. They are a very professionally run organisation, and we use their credit management services when our own credit control department has failed for whatever reason to progress an outstanding debt.
Perhaps more importantly, we quite often during the course of a year seek their advice on legal matters of a commercial nature, whereas previously a solicitors services would have been required; the cost savings for this service alone makes their Master club membership very good value.
Finally it must be said that we greatly appreciate the convenience of being able to get sensible legal advice by picking up the telephone, and talking to a knowledgeable professional.
Roderick Smith, Commercial Director, Hiremech Ltd
Surrey Security Service provides security officers to Property Developers and businesses to protect property from intruders.
We were asked to collect a disputed two-year-old debt of £28,920 from a Property Developer. Upon assessment of the viability of collecting the debt we discovered the debtor had a late payment track record, where they habitually paid their debtors 134 days late.
We were confident the debtor was trying it on — their dispute rested on an unsubstantiated allegation that Surrey Security Service’s officers had used £20,000 worth of unauthorised mobile data while attending the site.
Carlo Pegna stood up to the lawyers for the property developer and recovered the debt of £28,920, plus costs and interest of £12,000, in just three weeks.
What our client said
It is a pleasure working with Carlo Pegna at Master Collections. I am very impressed with his personal service. His professional approach helped our business recover more than £40,000 worth of debt, including 100 per cent of our legal costs and late payment interest. His prompt response enabled us to resolve the issue within a month.
A. Waheed, Director
BDO UK (BDO) is one of the largest accountancy firms in the UK.
BDO as a result of their appointment as administrator for a electrical distributor instructed Master Collections to collect seven aged debts with an average age of three years and combined value of £4500. Master Collections developed a bespoke process in consideration of the difficulties collecting stale debts.
Instructions were received in bulk format electronically and letters of claim sent out subject to BDO's approval. BDO were 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. In just 3 months Master Collections collected 95% of the debt instructed without the cost and stress of legal proceedings.
What our client said
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)
Please get in touch if you want to get more information about any of our services, or to discuss an outstanding debt and how we might be able to collect it for you. Please call us or complete the form below and we'll get back to you.