21 March, 2018
An innovative debt collection service using cutting-edge technology, launched by Forbes Solicitors, has recovered more than £500,000 of clients' money in just 12 months.
Forbes Collect utilises cloud-based technology to deliver a platform for efficient, effective recovery.
In the 11 months starting last April the service recovered more than £452,000 and the figure for this month already stands at over £65,000.
Janet Shackell Head of Forbes Collect said that the figure underlined the effectiveness of Forbes Collect, and the dedication of the team which is a unique, solicitor led service with an imaginative and flexible pricing structure.
Clients will have instant access to Forbes' cloud based client portal 24/7 and an easy reporting functionality.
This means they can check the progress of any given case at any time or indeed get an overview of the recoveries Forbes are working at on their behalf.
Its bespoke systems and procedures ensure that debtors are kept under pressure to pay in full throughout the process, maximising the chances of recovering the money that is owed to clients.
Janet Shackell said: "We believe that the best way to run a debt recovery service is to link the fees we charge to our success in recovering your money, showing that we are willing to take the risk with you as we believe our service is one of the best on the market hence we offer the opportunity on most cases to instruct us on a "no recovery, no fee" basis.
"The fact that we have recovered more than £500,000 in 12 months shows the effectiveness of the service and the great work that has been done on the efficient collection of money owed to our clients."
She added that in certain circumstances, if recovery of the amount claimed is made in full, the interest and late payment compensation recovered can cover the entirety of Forbes Collect's fees. She said that this, together with the service levels and accessibility offered, makes the service unrivalled in the market."
As Forbes are solicitors, not debt recovery agents, benefits, include:
Forbes' expertise and experience brings added value to the service. They provide quality and practical advice that reflects the needs of clients' businesses
Fees are linked to success in recovering the client's money
Forbes use the latest cloud-based technology. They make it easy to instruct them and easy for debtors to make online payments through a payment portal. Clients have 24/7 access to the portal and there is easy reporting functionality.
Janet added: "At Forbes, we understand that commercial debt recovery is a crucial service for many businesses when they face the ongoing problems of unpaid invoices and aged debt which can create substantial cash flow issues for clients.
"Often, our debt recovery service is used to encourage slow payers to make payment sooner and we act as an integral part of our client's credit control team and can provide a support that clients often do not have within their own businesses.
"Our solicitor led team at Forbes Collect are experts in commercial debt recovery. Having a specialist team that purely focuses on business debt recovery helps us to provide added value and excellent customer service."