Credit company sees increase in debt collection referrals in 2021

A GLASGOW-based credit firm saw a sharp increase in insolvency practitioner (IP) collection referrals across the UK in the first six months of the year.

BRS Credit primarily focuses on working with PAs to maximize collection from debtor records of companies that have gone into receivership or liquidation.

She is currently responsible for collecting over £ 1million in debts on behalf of a growing number of clients.

Photo by BRS Credit. BRS Credit takes a case management approach to collections with a dedicated case manager appointed for each debtor register.

Mark Simpson, Managing Director of BRS Credit, said: “I am very happy with the success we have had since taking on our first client just over two years ago.

“We are in the process of building a team of case managers who can handle the growing demand for the service we provide to NPs.

“Our goal is to speed up the process and move collections forward in a timely and cost effective manner.

“As we work on a no-cost, no-cost basis, IPs can be confident that they not only increase the chances of returning funds to the creditors on whom they represent the interest, but they will also end up, in most cases, in a position to do it sooner than they might otherwise have expected.

Danny Jamieson, Group Managing Director said: “BRS Credit is an integral part of BRS Corporate Services Group which, together with its sister companies BRS Capital and BRS Consulting, specializes in collaborating and supporting companies facing financial difficulties or going through a period of change and uncertainty.

“When we launched BRS Credit in 2019, I believed there was a real opportunity to add value by taking a highly professional and determined approach as a way to differentiate what we have to offer in a very challenging market.

“The upcoming easing of financial support for businesses suffering from the consequences of Covid restrictions, and the wider continued impact Covid has on cash flow are likely to have a significant impact on the number of businesses facing financial difficulties in the latter part of this year and following.

“It is the connectivity of services and the front-line support that we provide to our customers, across the group’s three divisions, that sets BRS apart from the rest of the market. “

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