Benefits of an External Debt Collection Agency
Video 4 of 4 in our series discussing issues relating to solicitor fee debt
There are many advantages to be gained when a solicitor's firm uses an external debt collection agency, such as Town & Country Legal Services.
One such example could be Amicable Mediation, where the psychology of using a third party to resolve debt collection issues and facilitate an agreement on fees, can completely eliminate the need for any court involvement. We regularly find that our mediation process has the benefit of revealing various information, which would normally have remained hidden, either intentionally or otherwise, thereby bringing the matter to a close in a far more friendly and cost-effective manner.
Another benefit of an external debt collection agency is the cost-effective nature of this option. The fees are more economical than in-house collection, typically at rates of around just 15%.
Finally, tracing and credit-checking means that we can locate missing clients and gather information in such a way which allows us to ascertain whether or not it is viable to continue action against that client.
At Town & Country Legal Services, we act for a number of solicitor's practices and we understand the sensitive nature of the debt collection process. We appreciate that it may not be easy for the partners of a firm of solicitors to trust a third party with their clients. However, we know that it is only through effective and careful communication, as well as solid collection practices, that this trust can be earned. And in this manner, we are able to collect those debts that need collecting, thereby bringing a close to proceedings as well as some much-needed peace of mind.
If you think you could benefit from a professional and compassionate agency, please give us a call on 01883 212121 or email enquiries@tclsllp.com