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Thursday, August 5, 2021

First Capitol Collections Provides Guidance on Collecting Debts Post Pandemic

Last updated Sunday, June 13, 2021 15:50 ET , Source: First Capitol Collections

UK’s Leading Debt Collection Agency Specialising in Debt Recovery for all Kinds of Entities

London, UK , United Kingdom, 06/13/2021 / SubmitMyPR /

11th June 2021 – First Capitol Collections, an established debt

collection and debt recovery agency provides guidance on collecting debts post-pandemic.

Many businesses have faced their fair share of struggles due to the ongoing pandemic. The

last year’s hit did not leave them any room for preparation, and some businesses are still

struggling financially. Creditors are now being urged and requested to constructively work

alongside the debtors to arrive at mutually acceptable arrangements. The pandemic has also

pushed a lot of businesses into temporary financial losses and distress. Despite

Government’s measures to combat the most visible economic disruption, companies are

still struggling to keep their liquidity going and are experiencing substantial losses on the

financial front.

Many businesses have been seeking Government assistance to prevent their operations

from going down, either direct financial support or through the furlough scheme. In many

cases, support has been precious; however, it is still a viable question if anything will come

back to normalcy post-pandemic. First Capitol has recently updated their website with blogs

such as A post covid 19 eras for business” and A Guide to Debt Recovery from SMEs during

Covid-19. The author highlights the importance of businesses to develop strategies to

prevent bad debts and protect themselves in these challenging times.

While Covid19 has played a significant role and in many cases has caused unimaginable

financial distress, many businesses also had to contend with the country official leaving the

EU at the end of 2020. First Capitol believes that sometimes a crisis brings can bring unique

opportunities. Consequently, some businesses must find innovative ways to reinvent and

rediscover themselves amidst these challenges. Every business needs capital. Cheap money

is readily available in government-backed loans with flexible terms, payment holidays, etc.

However, the point remains – when the economy fully reopens can businesses repay their

debts?

One of the biggest challenges for some businesses is their ability to recover what they are

owed or in a timely fashion. Even with stringent credit control practices, it can still be hard

work using in-house debt recovery and debt collection strategies. Honestly, at this point,

creditors should not waste their time or delay any further; when it comes to debt recovery,

First Capitol has nearly all of the legal collection solutions to get businesses paid, often

without compromising customer relationships. From doorstep collection to preventing bad

debts from escalating, the debt collection agency uses proven techniques and experience to

bring amicable solutions to all parties involved.

To know more visit https://firstcapitol.co.uk/


About First Capitol Collections

First Capitol Collections based in Bedfordshire, United Kingdom, is a reputed debt collection

agency that offers debt recovery services for all kinds of business entities and individuals in

the UK. With offices in Bedford, Birmingham, Bristol, London, Manchester, and

Southampton, the agency provides doorstep collections, debtor tracing and people

searching services, legal escalation, process serving, and comprehensive pre-sue and

business reports.

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Contact

First Capitol Collections

Mayfair House, 11 Lurke St, Bedford MK40 3HZ

0333 344 4991


Original Source of the original story >> First Capitol Collections Provides Guidance on Collecting Debts Post Pandemic


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