Q2 2024

SME News Q2 2024/ 40 Most Client-Focused Debt Collection Service 2024 With The World Bank’s recent predictions of how the global economy is progressing, it’s important to remember that there are still ways to be in control of our finances. Enter Money Claim Collections, the buttress for businesses across the UK. Responding to the demands of the debt collection industry, Money Claim Collections is the perfect company to partner up with to ensure you receive what you are owed. We explore its myriad of services as it wins its esteemed title in our UK Legal Awards 2024. Jonathan Poulter started Money Claim Collections in a box room in his home, and, this company that has only been in operation for 18 months, collected £2 million on behalf of its clients in its first year. Following rapid success and growth, Jonathan partnered up with lifelong friend and someone with just as much industry knowledge as himself, Joseph Kirby. The company now spans 10 specialists offering no-win-no-fee debt collections for the commercial sector. Its services can cover anything from basic letter sending and telephone calls to statutory demand and winding up petitions. The company contributes positively by offering companies and individuals risk-free debt collection that gains results, often for those who are unable to issue their own claims due to finances. Boasting a wealth of experience within the commercial debt recovery industry, Money Claim Collections’ team of qualified specialists work tirelessly to recover clients’ overdue invoices, settle complicated contractual disputes, and ensure they are paid the funds that they are rightfully owed. To begin with, the team assess every case on its merit, and if they don’t think that it is worth pursuing, they will let the business/ individual know and kindly decline and provide a reason why. “Very professional debt collector. Sorted out a bad debt for Handy Concrete in under a week. A debt that we have been chasing for six months. Can’t recommend his [Jonathan’s] services enough. Don’t wait months for YOUR money; contact Jonathan. We will be in future.” - Handy Concrete Should the company pick up the case, it will fall under one of four services, whether credit reports and investigations, debt recovery, dispute resolution, or court enforcement. Within its credit reports and investigations service, Money Claim Collections provides credit control and commercial investigations, alongside due diligence, international risk assessment, and fraud investigation services. Money Claim Collections can provide the support that its clients need in order to take on new work with peace of mind. Further, the company can investigate the previous appointments and business history of company directors as required. This means that it can identify if a business leader has had many previous occasions where their companies have dissolved or liquidated, as this can be a sign of fraudulent behaviour and mismanagement. It can also find out key credit information behind sole traders and homeowners, enabling its clients increased security when offering a service or supplying goods. Additionally, Money Claim Collections can trace and locate absconded and gone-away debtors. Upon a debtor’s disappearance, Money Claim Collections can use its inhouse intelligence software to locate debtors at their new address. Next is its debt recovery service, which is crucial to any successful business who is struggling to receive payments for their services. Late payments and bad debts can have a largely negative impact on cashflow and stifle growth, as a result pushing a business towards financial crisis. And debt recovery laws and regulations are ever-changing, making it increasingly complicated to issue a claim. “He [Jonathan] managed to collect monies owed within a matter of hours after I’d struggled for months. Great communication and very effective at what he does. Would recommend and also use him again.” -Wood Environmental Services From there, Money Claim Collections’ dispute resolution service is dedicated to getting to the bottom of any dispute by using exclusive yet tried and tested methods, whether the debtor has chosen to fabricate false disputes, or it is simply a matter of miscommunication. Debt disputes can be devastating for a business, however a timely response can ensure it is dealt with swiftly and effectively, minimising the impact on commercial operations. Money Claim Collections’ highly motivated team are on hand to resolve the situation to a satisfactory conclusion that will be acceptable to the creditor. The company has found face-to-face collections to be a highly successful method of enforcing debt payment, mainly due to the fact that this makes the debt real to the individual, as they can no longer ignore it and just put the letter in the bin or block phone calls. When one of the company’s debt collection agent visits the premises, this makes the debtor take notice, which usually prompts immediate payment. When no real dispute has been raised and every other method has been attempted to acquire payment, Money Claim Collections is in a position to begin statutory action against the debtor. This is the step before issuing a winding up petition, a legal statement from the creditor to the debtor which states their intention to force liquidation and closure of their business if the funds aren’t received. Within its work, Money Claim Collections delights in its various success stories, with its biggest accomplishment to date being the collection of £65,000 within 24 hours of instruction on behalf of a client who had been chasing invoices for 12 months. It also collected £35,000 on behalf of Olympus Fitout Contractors within two hours of instruction. Also among its accomplishments, it is pleased to have taken on huge leading companies as its clients such as Ash Waste and Bagnall and Morris. Not only is Money Claim Collections’ offering proactive and effective for its clients, but it is also bringing debt collection into the digital world, enabling its clients to upload files for assessment, receive live updates on