UK Legal Awards 2024

SME UK Legal Awards 2024/ 4 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. In 2022, CEO of the Credit Services Association (CSA) Chris Leslie reported, “The CSA’s latest survey of member firms suggests that the UK collections sector now holds over £30 billion of consumer debt for collection, across more than 25 million customer accounts. In terms of commercial debt, the sector holds £4 billion across 1.5million accounts. So there is an ongoing and significant role for collections and debt purchase agencies to play in the economy, not to mention the employment contribution made by CSA member firms who employ over 11,000 people across the country.” With factors considered such as the costof-living crisis and increasing interest rates, an ongoing difficult economic climate is anticipated, with UK consumers continuing to borrow. Therefore, this requires the collections sector to maintain high standards, working professionally with creditors to help them recover the money their customers owe them. Businesses rely on their customers making their payments on time for the purposes of cashflow, successful growth, and to avoid financial crisis. Unpaid invoices are a large-scale problem for SMEs, because it doesn’t only have the aforementioned implications, but it is also a time-consuming task to recover outstanding debt. Thus, there is a beacon of light for these businesses in the form of Money Claim Collections, a company which was started by Founder Jonathan Poulter in a box room in his home. Only having been in operation for 18 months, it, in its first year, collected £2 million on behalf of its clients. Following rapid success and growth, he 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.