Frequently Asked Questions.

Q. Do you chase debts for private individuals?

A. Not normally, No.
Cred-X Commercial Debt Recovery specialises in offering Debt Collection solutions for Business debts only.

Q. What is the smallest value of debt you will chase?

A. We have successfully chased and recovered debts ranging from £200 up to £175,000
It's important to us to try and collect debts as efficiently, professionally and promptly as we can for our clients. A debt of £200 may be just as important to a sole trader as £175,000 is to a large company.

Q. What area of the country do you cover?

A. Whilst we may be based in Bristol, UK, that doesn't restrict our activities.
We have clients from Scotland, England and Wales.

Q. Why did you decide to offer a "Interest Offset Recovery" service?

A. We decided to introduce "Interest Offset Recovery" to address the imbalance between Debtors and Creditors.
We were annoyed to see Debtors using and abusing Creditors' cash flow. When Creditors wanted to get paid they then had to pay fees for a Debt Collection Agent or Solicitor to get the money for them.
It just didn't seem fair that Creditors should have to pay for something that is theirs by right.
The only time we have to charge our client is when we are instructed to issue legal proceedings. We obviously have to cover solicitors' costs and court fees so we have to pass these charges on to our clients.

Q. So how does "Interest Offset Recovery" work?

A. It's quite straight forward really.
We use late payment legislation called The Late Payment of Commercial Debts (Interest) Act 1998 to allow us to charge the debtor for our fees. By doing this we can ensure that our clients get 100% of their invoice value and our clients do not have to "pay" to get paid what is theirs by right.
The bottom line is that the Debtors who have sat on our clients cash have to pay for our services and we think that's poetic justice.

Q. Do you ever charge on a commission basis?

A. Yes we can charge clients directly to collect overdue debts, but only in circumstances where our clients request that we do.
We can operate on a fixed fee basis, commission only, cost plus .... the options are limitless and depends entirely on what suits you and your business the best.
We are not here to profiteer, we honestly believe in working in a spirit of mutual beneficial partnership with our clients. That's one of the things that makes Cred-X so unique.

Q. What is 'Debt Manager'?

A. Debt Manager is a unique online debt logging system developed by Cred-X to allow our clients to be able to use the internet to pass unpaid debts to us quickly and easily.
Once a client has registered for the service they can send us new instructions, view the progress of their current debts, communicate directly with our staff, upload and pass copies of invoices, statements or documents.
In return, we can keep our clients completely up to date, minute by minute, by sending automated updates straight to our clients chosen email address every time Debt Manager is updated.

Q. Do you charge a registration fee?

A. No, we do not charge a registration fee, however, under certain circumstances we may ask a new client to provide a securing deposit.