Commercial / B2B Debt Recovery
Professional recovery for business-to-business debts. We take over from day one with structured pressure and clear escalation until resolution.
When another business owes you money and has stopped paying, the problem is rarely the paperwork. It is the time it takes to keep chasing, and the awkwardness of chasing a customer you may still want to work with. Our commercial recovery service takes that off your desk.
From the day you instruct us we contact the debtor in Steadfast’s name, set out exactly what is owed and under which invoices, and keep the pressure on until the debt is paid, a payment plan is agreed, or we advise you that the next step is legal action. You are kept informed at every stage through your client portal.
How it works
- 1
Assessment
You send us the invoices, the contract or terms, and a short history of what has happened. We review the debt and tell you honestly whether it is worth pursuing. If it is not, we say so.
- 2
First contact
We write to and phone the debtor within one working day of instruction. The letter sets out the amount, the invoices it relates to, any statutory interest and compensation that applies, and a deadline for payment.
- 3
Negotiation
Most commercial debts are settled at this stage. Where the debtor disputes the invoice, we gather their reasons and put them to you so the dispute can be resolved or rebutted with evidence.
- 4
Escalation
If the deadline passes without payment or a credible plan, we issue a formal letter before action and prepare the file for court proceedings or a statutory demand, with your approval at each step.
Who this is for
- Suppliers, contractors and agencies with unpaid invoices from UK companies, partnerships or sole traders
- Businesses that want the debt recovered without losing the customer relationship where it can be saved
- Finance teams that need an aged debtor list worked through consistently rather than in bursts
What we need from you
- Copies of the unpaid invoices and any credit notes
- Your terms of business, contract, purchase order or email agreement
- A record of what has been said so far, including any promises to pay
- The debtor’s company name, registered number if you have it, and the contact you dealt with
Common questions
Can I add interest to a late commercial invoice?
Usually, yes. Under the Late Payment of Commercial Debts (Interest) Act 1998, a business owed money by another business can claim statutory interest at 8% above the Bank of England base rate, plus fixed compensation of 40, 70 or 100 pounds per invoice depending on its size, unless the contract sets its own late payment terms. We calculate this for you and include it in the demand.
How old can the debt be?
In England and Wales a simple contract debt can generally be pursued for six years from the date it fell due, or from the last written acknowledgement or part payment. Older debts can still be recovered in some circumstances, so send us the details and we will tell you where you stand.
Will you damage my relationship with the customer?
We are firm, professional and proportionate. Many debtors pay once an agency is involved simply because it signals that you are serious. We never use harassment or embarrassment tactics.
What happens if the debtor still does not pay?
We prepare the case for court or, for company debtors owing 750 pounds or more, a statutory demand. We explain the options, the likely costs and the realistic prospects before you decide. We are not a law firm, and where legal advice is needed we will tell you.
Steadfast Collections is a debt recovery agency, not a law firm. The information on this page is general and is not legal advice. We do not collect consumer credit debts.
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