Commercial Debt Collection
What is the cost of bad debt?
The average profit margin in the UK is 10% according to the office for national statistics. A loss of £10,000 would result in you having to do £100,000 in additional turnover in order to offset the loss and for the average SME, this figure is simply unattainable.
Using the sliders in our bad debt calculator, you can see how much additional turnover is required to offset your bad debt.
Ko-bolt’s debt resolution service can help you to avoid bad debt while maintaining the buyer-supplier relationship. Get in touch with the team today to find out more.
*As per the Late Payment of Commercial Debts Regulations 2013, collection costs and interest are payable by the buyer. When we collect them, there’s no cost to you.
Why choose Ko-bolt Commercial Debt Collection?
We believe commercial debt collection needs to change. We’re on a mission to help businesses to overcome the problems they face in light of the pandemic and the exit from the EU. We specialise in getting suppliers paid quickly whilst preserving relationships with their buyer. The process is firm, but fair and we aim to immediately open up a dialogue with the buyer across a variety of media to give them the tools they need to talk to us.
No Collection, no Commission debt recovery
Our service has no joining fee, annual fee or placement fees. And, what’s more, as per the Late Payment of Commercial Debts Regulations 2013, collection costs and interest are payable by the buyer. We add our costs to the account and when we collect them, there’s no cost to you and any interest we recover is 100% yours. Our service is always offered on a ‘no collection, no commission’ basis, so if you don’t get paid, neither do we – sound fair?
Keep Your Customer
We work with buyers to expedite payment, by offering expert advice and support on improving their cash flow so that they can pay quickly and the buyer-supplier relationship can be maintained, we like to think of it as debt resolution.
Swift action and swift resolution is assured – followed by swift remittance of cleared funds.