Money Collectors

The best debt collection team in the business

We chase your money as if it's our money

Our Services include the following

Professional, persistent and experienced UK and Worldwide debt recovery 20% No Collection No Fee
Outsourced credit control 30% reduction in costs
Tracing services to find absconded debtors just £95
Credit checks on individuals and companies just £45
Seven Day Letters before Court action just £75
Issuing and serving of Statutory Demands just £395
Legal process through the courts
Instruction of Bailiffs and Sheriffs
Instruction of private detectives
Writing your terms and conditions of trade £495
Writing your company credit policy
Setting up your credit procedures
For information on any of these services
Call us now 01544 294224 to discuss your debts

Specialist Services for Franchisors and Franchisees

Debt Collection No Collection No Fee
Outsourced Credit Control
Tracing Absconded Debtors
Franchisee Audit Reports
Financial Analysis
Credit Checks on Companies and Individuals
Benchmarking of Comparative Franchisees
Business Valuation

We are a preferred supplier to the British Franchise Association

Call Mike Segall now on 01544 294224 to find out more information about our services.

Duplicate Payments Recovery Service

Highly qualified and motivated professionals

Money Collectors recover profits and cash flow from duplicated payments

Duplicated payments are a bigger problem than most companies realise. Studies by the Accounts Payable Association have shown that two thirds of UK finance professionals have received duplicate invoices, with a third ending up paying them, while other studies suggest duplicate payments make up approximately 1% of all invoices paid.

Accidentally paying the same invoice twice may not be a huge issue if it is an isolated event, but if it is a common occurrence over many years, it could cost businesses hundreds of thousands of pounds, which is still recoverable.

At a time when the financial impacts of Covid-19 have made all businesses review their expenditure, duplicated payments are not a mistake they can afford to make. Action needs to be taken sooner rather than later, or companies risk continuing to make costly overpayments.

How do duplicated payments happen?

Companies use trusted suppliers, but duplicated payments continue to be made leading to loss of revenue. So why are you receiving duplicate invoices and then paying suppliers twice?

Here are the top 5 reasons

Data entry errors – From the loss of concentration when manually processing hundreds of invoices a day
Supplier duplicates – Duplicate suppliers in your systems may lead to duplicate invoices being generated
Paying from multiple source documents – When two separate source documents are submitted for a single payment
Invoices sent via different methods – Duplicates can occur if invoices are posted, faxed and/or emailed
Lack of PO number – Duplicate payments may occur if the supplier does not include the PO number

How Can Money Collectors Help?

Duplicate Payment Recovery Service

At a time when organisations all have challenges of time and staffing to address this issue today, we can deliver much needed cash back into the business, by delivering this review for you.

Our Duplicate Payment Recovery Service, identifies duplicate invoices that have been submitted for payment using risk scoring software to identify the highest risk items, enabling finance teams to commence recovery of duplicated payments that they potentially did not even know were lost. This on average can equate to between £150,000 and £250,000 for a £10m annual spend over 5 years. This also ensures an accurate ledger position and improved cash flow for our clients.

Many companies do not automatically refund the duplicate payments until asked and your duplicate payment will not show on your statement or ledger as they move your overpayments to a suspense account.

Built using innovative technology, the Duplicate Payment Recovery Service utilises a standard workflow with appropriate checks and balances to ensure that each potential duplication is validated, recorded, and actioned appropriately. We carry this out for companies remotely on a completely no recovery no fee basis.

Call to action: Telephone 01544 294224 or e mail mike@moneycollectors.co.uk

A phone call away

You can always call us for free advice and assessment

We will look at your debts and suggest a best no collection no fee solution

Call us now 01544 294224

Collecting a debt can feel like you're climbing a mountain!

Mike Segall 09/10/2023

Why use a professional debt collection agency?

Expertise

Reputable collection agencies have professional staff and know how to handle cases. Thanks to our many years of experience, we know how to start discussions and how to encourage the debtor to pay.

Passion

The results we achieve do not come from nowhere. We have a passion for debt collection and we radiate it. This results in a good and efficient collection process.

Speed & time saving

By being informed, and staying informed, we know what our rights and obligations are within the collection process and we know how to increase the pressure. In addition, the money is credited to your account within 1 (working) day after it is received by us.

Managing Debtors

Managing debtors often costs a lot of time and money. By outsourcing it to Money Collectors, you are assured of a good and clear accounts receivable policy and you can spend your precious time on other important matters.

Quality

Money Collectors stands for quality. By using the latest technologies, we know how to get your outstanding claims paid. By continuing to innovate, we constantly come up with new methods and solutions.

Timing

At Money Collectors we advise you not to let the invoice lie. It is important to act as soon as possible. An invoice that is paid too late will otherwise cost you money, and that would be a shame. That is why we recommend a maximum of 45 days past due. If you have still not succeeded, it is important that Money Collectors comes into play.

Call us now We can help you 01544 294224

Debt Collection Myths

1. Debt collection agencies are expensive That is a common myth about debt collections agencies. But it couldn’t be further from the truth. Most debt collection agencies only get paid a percentage of the amount collected, including some administrative costs. So, next time that you have an unpaid invoice that you are thinking of writing off, consider hiring a debt collector instead.

2. It will hurt relations with customers A lot of SME’s conduct business repeatedly with the same customers and want to maintain a good and healthy relationship with them. Because of that, they are afraid that hiring a debt collection agency will damage the relationship they have built. Good debt collection agencies understand that and take it into consideration. They collect debts without hurting the relationship with the debtor.

3. Debt collection is only for big companies Another misconception is that debt collection is applicable only for major corporations. Whilst big companies may have larger debts to collect, it’s common for small companies to have more frequent debt to collect which makes them good candidates for debt collection agencies. Regardless of their size, all companies care about profit but when it comes to debt recovery very few have in-house specialists. This task normally lays at the foot of the Finance Manager and is rarely one that’s enjoyed. Unpaid invoices are not to be left though. You need to act quickly if you want to get your invoice paid. Debt recovery agencies can unburden you, act fast and ensure you get what’s rightfully yours.

Call us now to learn the truth 01544 294224

MONEY COLLECTORS LIMITED

Get in touch today

Call us now on 01544 294224

As a commission only service we are driven by results and this incentivises us to succeed

Testimonial
Massive thanks to Mike Segall at Money Collectors who has successfully recovered a "fairly chunky" debt for me in full which has been outstanding for months. He achieved this feat in just over a week so if anyone has the same problem I cannot recommend his services highly enough. Well done indeed Mike and thank you.

Malcolm Tullett Director Risk and Safety Plus Limited

More Testimonials

If there was anyone I’d use to get me paid, it’s Mike. Absolutely the stand-out expert in this field. And a very loveable character to boot

Emma Boardman Communications Director
Mike has chaired and run a Business Focus Group, that I have been a member of for some time. He is always quick to offer advice and his support to any venture opportunity. He provides sound reasoning when it comes to business problems and always contributes to business discussions. Mike is a personable, larger than life character who excels in building his networks.
Steve Bradbury Owner Contemporary Art
Mike is a hard-working individual who strives to make hard work a pleasure for all concerned. He also has an extensive and varied network which he is keen to share.
David Edelman Director Three C’s Limited
Mike is a straightforward and very professional businessman. He is even better as a networker, meeting him over dinner added him to my shortlist of 'Excellent UK connections'.
Geert Conard Director IT Consult Services Belgium

"I'm so sorry for the delay" and "I'm really sorry. Can we pay by card immediately?" This is what two clients were saying to us with hours of our passing their debts to Money Collectors. Mike sent the letters out at 7am and by lunchtime both had paid in full including all collection costs and interest.

We strongly recommend Money Collectors to anyone serious about getting paid in full

Brian Larholm Managing Director IT Zero Limited