Debt Recovery costs remain static

Whilst the UK is embroiled in a bitter argument in respect of cost of living increases and various business, both corporate and small jumping on the bandwagon, all raising their own prices in a seemingly endless cycle, one small comfort to UK enterprise is that, by and large, debt recovery costs and other complementary industry costs such as debtor tracing fees, debt mediation and such has remained static.

Although HM Courts Service have recently announced a shake up to its fee pricing with some savings and some increases, on the whole the UK debt recovery and commercial debt recovery industries appear to have kept costs static in the wake of increased demand for its services.

In support of this one of the costs associated in debt collection and recovery, credit reports, and debtor tracing, i.e. that of obtaining judgment information, UK provider Registry Trust has more than halved the cost of judgment information for its account customers – many of whom are law firms and others in the collections industry.

Nick Rossiter, Operations Manager, wrote to them as follows with the news:

“Trust Online announced that we would not pass on the VAT increase to our customers. Since then we have been reviewing our pricing and as part of our ongoing commitment to providing value for money we are pleased to announce that from Monday 12th September 2011 the cost of searching the Registers will be significantly reduced.”

Through the recession judgment information has become ever more valuable and the announcement came immediately after the Trust’s AGM, outlining that the new pricing level reflects the Trust’s reaffirmed commitment to contributing to a healthy economy, aiding responsible lending.

Registry Trust registers cover: CCJs, administration orders and child support agency liability orders, High court judgments, Fines defaults from Magistrates Courts, and Tribunal Awards.

With UK late payment problems at £24bn, it seems that there isn’t going to be a downturn in the collections and debt recovery industry and it is encouraging that this vital service to UK small businesses is keeping itself affordable and cost effective.

For more info or advice from Liverpool Debt Recovery firm CCDR (Corporate Credit Debt Recovery Ltd) simply pick up the phone or use the website to leave a message and we will call you back. We are a leading UK Debt Recovery specialist with international reach and a results tally to match.

This entry was posted in Blog, Industry News