Switch on your cash flow with Ko-bolt
Commercial Debt Recovery experts in Maidstone
Debt Collection Maidstone
Ko-bolt Debt Collection Maidstone?
We believe the commercial debt collection industry needs to change and we need to help businesses to overcome the problems they face in light of the pandemic and the upcoming exit from the EU. Maidstone based Ko-bolt specialises in getting suppliers paid quickly whilst preserving relationships with their customer, the 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.
Because we work with the buyer 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.
Our debt resolution 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?
Why businesses use Ko-bolt?
With so many debt collection agencies in the market, why choose Commercial Debt Collection from Ko-bolt?
We get results
Our innovative and personable debt resolution service has a success rate of 82% and most debt is collected within 3 weeks of placement.
Fair approach
Our debt collection process focuses on the buyer-supplier relationship. As a result, you can expect swift recovery and the opportunity to engage in future trade.
No collect, no fee
Our service is always offered on a no collection, no commission basis. Therefore, you only pay if we're successful in securing payment. Sound fair?
We're specialists
We don't offer consumer debt collection. Consequently, by focusing only on commercial debt collection, we can deliver the best service and the best results.
Global resource
Collection services in native languages are available in 147 Countries thanks to our network of local agents.
Assign in minutes
With our online registration and placement tools, you can place a debt in as little as 5 minutes and we get to work straight away.
Our tech
We use specialist email tracking software which allows us to see when an email has been sent, delivered, opened and more importantly how many times, influencing how we approach the customer for payment.
Customer care
We’re here for you and your business. Ko-bolt’s friendly customer service team is here to help via phone, email and live chat.
The environment
Traditional debt collection uses vast amounts of paper in the onboarding, debt placement and the collection processes. As a result of our email first policy, we reduce the use of paper and the carbon footprint that traditional post creates.
Not sure if you need us?
The true cost of a bad debt
The average profit margin for a business in the UK is 10% according to the office for national statistics. Therefore and as an example, a loss of £10,000 would result in having to do £100,000 in additional turnover in order to offset the loss and for the average SME, this figure is simply unachievable. Consequently this can lead to business failure.
By using the sliders in our bad debt calculator, you can see how much additional turnover is required to offset a late payment if it becomes irrecoverable. Still not sure if you need us?
Tired of scrolling? Get in touch
Our Services
Select a service to find out more about how we can help you to reduce late payment and bad debt
3 simple steps to getting paid
Register
Registering with Ko-bolt is free of charge, there are no joining fees, annual fees or debt placement fees, so you only pay when we collect. What’s more, as per the Late Payment of Commercial Debts Regulations 2013, collection costs and interest are payable by your buyer. We add our costs to the account and when we collect them, there’s no cost to you. Any interest we recover is 100% yours.
Place your debt
Once you've registered, you can start working with Ko-bolt right away. You’ll need to provide us with copies of invoices and/or an up to date statement of account. You can drag and drop these documents into Ko-bolt’s online debt placement tool. We’ll only contact you if we need additional information or we’re unable to help (e.g. if we identify that the buyer is already insolvent at placement).
Get Paid!
Provided we have everything we need, we'll get to work within 24 hours and we hope to have resolved the debt within 21 days. Once we've collected your money, we want you to make use of it, so we remit cleared funds every other week, which is twice the average for the industry.
What our customers say
“We reached out to Ko-bolt following a recommendation from our Insurance broker to help us collect a debt owed that we were unable to recover. We spoke to Karl, who was very easy to deal with and he had a clear and measured approach to our need. The online process to register a debt was very simple. His experience and knowledge in this field is expansive and he really put us at ease throughout the entire process. He even helped us design and develop some useful documents to help us in the future. Great work and you have my full endorsement !!!”
"Abacus have trusted Ko-Bolt to collect debts on behalf of our clients. They have done a fantastic job so far, and I have no hesitation in recommending them.”
"Debt placement was a simple activity which was appreciated. The debt placed was relatively large, and had caused problems for nearly 18 months, made more complex by the US headquarters of the debtor. The resolution however, was met within a matter of 3 weeks and at full resolution. Funds were then transferred from Ko-bolt within hours of receipt and confirmation.
I must highlight a unique feature of the Ko-bolt model that I believe greatly aided the result and the speed of resolution, is the email tracking software. This feature means it is impossible for the debtor to deny sight or receipt of the legal notifications or cause unnecessary delays. It shows how many times the emails have been opened, forward, read and when these have been forward to other outlets. At all points, I was kept informed of progress.
This will mean future engagement and placements."
“In my career as a Credit Manager, I've worked with several debt collection agencies and I have to say that Ko-bolt has delivered the best results for me and my team. The placement process is very quick and simple. The success rate is high and thanks to the buyer-supplier focused approach, we have been able to maintain the relationship with our customers. I have no hesitation in endorsing and recommending Ko-bolt for your debt recovery needs and I have already done so to a number of people in my network. Keep up the good work guys!”
"As a credit insurance broker, I always recommend Karl and the team at Ko-Bolt for insured and uninsured debts. They get to work on what's owed immediately and have an incredible success rate. Thanks, Karl!.”
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