“Collection of outstanding accounts costs both time and expense skewing your budget into overrun. Legal insurance cover turns that unquantified cost into a fixed cost to the business.
South Woodford, London (PRWEB) April 02, 2014
First Collect International is now offering legal fee insurance for the bad debts they collect. Specialising in international debt collection, they have negotiated a unique cover with a leading legal fees insurer in the UK. The arrangement, which is exclusive to First Collect, addresses the cost of legal fees making it affordable for all.
“Collection of outstanding accounts costs both time and expense skewing your budget into overrun. Legal insurance cover turns that unquantified cost into a fixed cost to the business. It is the variable of unknown costs that creates problems for a business rather than the cost that you have already factored in. Recognising it, we set about finding a solution,” commented a senior executive with the company.
Legal fee insurance provides an affordable way for companies to access the justice system for bad debt collection. The insurance covers expenses related to pursuing legal rights. A business earmarks an amount for legal insurance, knowing that it would provide full access to legal counsel and expense coverage when it is needed. The arrangement helps avoid the costs resulting from an unexpected drop in recovery level prior to legal action as well as the legal expenses overrun following an increase in unsuccessful legal actions.
Large volume clients of First Collect may choose only to insure a proportion of the debts. The executive added, “For a nominal premium, businesses can insure debts in case the legal action is required. You can allocate budget to initiate legal action. The facility contributes to the stabilisation of costs for bigger as well as smaller clients.”
Legal action cost for global debt recovery services (http://www.firstcollect.com/) depends on the legal system of the country and other factors. The amount the agency charges for debt collection is proportionate with the age, size and location of the debt placed. Clients are provided an honest feedback for every account they want to pass. Find here information on debt collection process in France.
About the Company
First Collect International is a debt recovery agency recommended by the world’s leading commercial credit insurance companies, major corporations and accountancy practices. For debt collection and credit recovery In Italy, there are few companies that can compete with them. In business since 1993, they are member of the CSA, ACA, IACC & LIC. Find information here about their debt recovery efforts in Holland.
First Collect International
34-36 High Road,
London E18 2TX, United Kingdom
Tel: +44 (0)20 8532 9637
Fax: +44 (0)20 8532 9638