The Late Payment of Commercial Debts Regulations 2013 entered statute law on 16 March 2013. This is currently the latest version of UK commercial late payment legislation and for the first time it included an important provision which gave creditors a statutory right to claim from their debtors the costs incurred in instructing a debt collector or solicitor to collect payment of a commercial debt.
Our managing partners recognised that the new amendments to commercial late payment legislation had created an opportunity to revolutionise the commercial debt collection industry. It was now possible to provide businesses that supply goods or services to other businesses a free of cost to the creditor debt collection service. Motivated and empowered by the amendments to Government late payment legislation, our managing partners took the decision to leave the firms they were working in and to establish Advocate Commercial Debt Recovery in late 2013.
The next step in our partners achieving their objective was to build a dedicated, client focused team that would work tirelessly to enforce commercial late payment regulations and to provide their clients with a true no cost debt recovery solution. Our managing partners are now supported by highly trained and experienced case managers each with particular experience in certain industries. When you instruct Advocate, your case will be evaluated and assigned to the case manager or partner with the most relevant experience in your industry or field of work. They will then be your main point of contact throughout the debt recovery process and they will update you regularly, if required, should our initial correspondence with your debtor not result in immediate payment of your overdue invoices.
The people at Advocate achieve industry leading success rates which combined with our unique no cost to the creditor service has resulted in Advocate Commercial Debt Recovery being regarded by both our clients and our competitors as one of the leading debt collection agencies in the UK. Our clients come from every business sector and every region of the UK. When you instruct Advocate you can rest assured that our people will endeavour to recover all of the money your business is owed as quickly as possible and as in the vast majority of cases without recourse to legal proceedings.
In over 80% of the instructions our people receive we recover and pay to our clients 100% of the money they were owed. Unfortunately in a small number of cases debtors will not pay until they are forced to do so by judicial process. In such cases and if instructed by our clients the people at Advocate will work closely with our panel solicitors and bailiffs to ensure that your case reaches a successful conclusion.
Our people are here to help both new and existing clients. Please get in touch if you have any questions regarding our debt collection or debt recovery services, if you are not sure if we will be able to accept your instruction or if you require any advice prior to instructing us.