FAQ's

Is outsourced debt collection suitable for small businesses?

Yes, it can be particularly beneficial for small businesses that don’t have the resources or expertise to pursue delinquent payments.

How long does the debt collection process take?

Simple cases can be resolved in a few weeks, while more challenging debts may take several months or longer.

What is the success rate for debt collection?

It depends on the age of the debt, the amount owed, and the debtor’s willingness to pay. Generally, the older the debt, the harder it is to collect. Using a professional company like MissionCC will significantly increase your chances.

Is outsourced debt collection suitable for small businesses?

Yes, outsourced debt collection can be particularly beneficial for small businesses that may not have the resources or expertise to pursue delinquent payments.

Can a debtor dispute a debt with a collection agency?

Yes, a debtor has the right to dispute the debt if they believe it is incorrect or invalid. MissionCC must investigate the dispute and provide verification of the debt if requested. If the debt is found to be valid, the collection process continues.

How long can I go back to collect old debts?

You have up to 6 years, from either the invoice, or the date the debt was last acknowledged by the debtor.

What are the benefits of outsourced credit control? 

It allows businesses to concentrate on growth and operations rather than chasing payments. Using highly experienced staff who specialise in chasing your money.

Outsourcing can be more cost-effective than maintaining an in-house credit control department.

How does effective credit control improve cash flow?

MissionCC use proven strategies and tools to ensure timely payments from customers, follow up on overdue invoices, and set appropriate credit limits to reduce the risk of bad debts.

How much does outsourcing credit control cost?

The cost varies based on factors like the size of the business, the volume of transactions, and the current level of payments.

How much does outsourcing credit control save?

Apart from often being more cost effective than maintaining an in-house Credit controller. It saves your time, allowing you to do what you do best, and it can save you from the odd sleepless night worrying about payment, or having difficult conversations with customers.

Can outsourcing affect customer relationships?

Often it can improve them, by outsourcing it allows staff to focus on what they do best for your customers, whilst we handle what we do best, collect debts professionally & courteously and maintain positive communication.

How long does it take to see results from outsourced credit control?

Depending on the complexity and volume of your debt, businesses can expect to see improved cash flow between a few weeks and a few months. The benefits of having your time back should be seen a lot sooner!

What are the risks of not conducting a credit check?

• Bad debts from clients who default on payments

• Cash flow issues due to unpaid invoices

• Damage to financial stability by extending credit to high-risk customers

Why is credit checking important for businesses?

It helps assess risk & ensures that potential customers are able to pay, reducing the risk of bad debt.

What is Risk Management?

It’s monitoring the credit scores, and other indicators, of your client list, if there is a change in their rating, we will report it to you.

Can businesses conduct credit checks on individuals without their permission?

No. In the UK, and most countries, businesses must obtain consent from individuals before accessing their credit reports.