We are the number one choice 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 a professional insolvency practitioner.
We have worked with a number of well-known insolvency practitioners, including BDO UK (see the case study below).
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 who is also 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.
Call us on 01920 481467 to find out how we can help you collect your outstanding debts.
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)
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