Don’t Fall Into the Wonga Trap… Why Using a Professional Debt Collection Service Will Always Pay

July has been a bad month for Wonga…

The under-fire loans company has been told it could face criminal charges over its use of ‘fake’ legal letters sent to 200,000 borrowers - signalling yet another blow to its credibility and public image.

For their part, Wonga argue the practice was historic and only used in limited circumstances.

And they’re not the only ones.

In the last few days the Student Loans Company and energy giant N Power have both been accused of intimidating vulnerable debtors with similar letters.

So how can firms collect monies owing without alienating clients or falling foul of the law?

Outsourcing the service to a professional firm is one way of keeping cash flowing, while maintaining best practice for consumers.

Instead of inventing a faux legal company, many British bosses are calling in external experts to help - and to ensure transparency around their services.

Companies like Commercial Domestic Investigations adhere to a strict industry code of conduct and can help creditors collect money effectively and legally.

Here at Commercial Domestic Investigations, Natalie Barron, explains the benefits…

“At Commercial Domestic Investigations we welcome the fines given to these companies for the worry they’ve caused their customers. As debt collection experts we don’t need to pretend to be anything we’re not. We pride ourselves on best practice debt collection, this often involves helping the debtor to put together a budget that we hope will be sustainable for them, we then look at what they can afford to pay towards any debts.

“We don’t make idle threats against debtors, if we are to take legal enforcement action against a debtor we will explain this clearly at the time, we won’t use it as a threat, but as a last resort when all other efforts have failed.

“In the modern world of the internet, MoneySavingExpert Martin Lewis and countless financial forums it’s very easy to spot a ‘fake’ debt collection company. Customers are too savvy these days to fall for fake solicitors’ letters.

“We’ve been in the debt collection business since 1988. We work for all kinds of businesses from sole traders to large PLCS. We have a client base of over 20,000 companies who we’ve collected debts on their behalf. If fake letters, from non-existent solicitors worked we wouldn’t have such a thriving business and such an excellent record for recovering debts. We’d urge business owners with debt collection needs to contact a professional in the field”.

Matthew Kaye
PR Manager
press@kudos-pr.co.uk
0113 246 0183 

Commercial & Domestic Investigations is one of the leading credit management companies in the UK. Set up in 1988, it now has a national client base of over 20,000 companies, including sole traders, SMEs, Ltds and PLCs.