Debt Resolution

Commercial Debt Collection

Let us take the heavy lifting out of chasing late payment.

Debt collection can be difficult for businesses of all shapes and sizes. First there’s the resource – Not all businesses have a dedicated resource for collecting overdue accounts, some may be very small, others may only have a small number of manageable customers, or they may have so many customers that the resource doesn’t cover them. Whatever your size, there’s always something better to be doing with your time than collecting overdue invoices.

Then there’s the relationship. Involving a debt collection agency can be stressful for the buyer and supplier. It can cause concern about damaging customer relationships and losing vital business. But that’s where we come in. We specialise in commercial debt resolution. Our approach is firm, but fair. We ask the right questions and more importantly, we listen. Once we have identified the issues that are causing the payment delay, we work towards agreeing a way forward that works for all parties. Ultimately it’s a business transaction which has gone wrong and needs to be rectified. We have a firm belief that companies owe money, but people pay bills.

How much does it cost to recover debt using Ko-bolt?

UK Debt Collection
No Collection, No Commission
  • Fast turnaround
  • Focused on client retention
International Debt Collection
No Collection, No Commission
  • Local agent fees may vary
  • Available in 147 Countries

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. 

3 simple steps to getting paid

Step 1

Register for your free account

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. 

Step 2

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).

Step 3

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.

We've introduced a free of charge final demand letter

We want to help our customers to ensure they get paid promptly while keeping costs to a minimum. Our FREE final demand service does both, see the Q&A below for more information.

It’s well known that unless you’re a critical supplier, those who shout loudest are paid first. Experience tells us that c40% of debtors will pay their balance (if they’re able to) on receipt of a letter from a third party, whether that’s a debt collection agency or a solicitor. Usually there’s a charge or commission for this service, but at Ko-bolt we’re trying to do things a little differently. Enter our free of charge final demand letter, designed to prompt your customer to pay quickly whilst maintaining the buyer-supplier relationship. What’s more, using email tracking software, we’re able to see when the email is delivered, opened and clicked etc. This provides greater clarity on the impact of the letter and helps us to determine if further escalation might be required to secure payment.

  1. You register for your free account
  2. You complete the final demand form
  3. We issue your free 7 day final demand letter via email and/or post.
  4. You get paid!*

*7 days following the issue of the letter, our team will contact you to confirm if the balance has been paid and the file will be closed without charge. Where the debt remains outstanding, we will offer assistance. But, by using the final demand service, you are under no obligation to use our ‘no collection, no commission’ service.

A letter before action is usually issued by a solicitor and is the final step you must take before you can issue a county court summons. It goes without saying that this can be very distressing for the customer and effectively severs communication which can irrevocably damage the relationship.

First you’ll need to register for your free account, then you’ll be able to request a final demand letter.

We need to know who you are, so that the letter is accurate and to ensure we comply with industry regulations.

This is to ensure we comply with anti money laundering regulations and in the unfortunate event that the debt isn’t paid, we can act quickly to assist you with resolution.

No problem, you can place the account with us on a ‘no collection, no commission’ basis, see below for more information

Get in Touch

We'd love to hear from you. Reach out today and let's discuss how we can help you to supercharge your cash flow

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