We are the number one choice for wholesalers and distributors. Our clients distribute a wide range of goods from electrical components to wine and food. Distributors and wholesalers invest in our services because they receive legal support and credit management advice from award-winning commercial lawyer Carlo Pegna.
We offer a personal service you can trust and have a proven track record in collecting debts quicker than solicitors at the fraction of the cost, and where other debt collectors fail.
We offer two debt collection services. Debt Collection Master is designed to collect debts on a no collection, no fee basis and an all encompassing credit management service called Master Club which is designed to cover every element of credit control for solvent accounts.
Speed is our strength because we know how important it is for a business to collect outstanding invoices quickly. We assess whether a debt is collectable saving you time and money. We always provide expert debt recovery advice with a strategy that produces results quickly.
Call us on 0333 456 0374 to find out how we can help you collect your outstanding debts.
TLC is an electrical wholesaler and distributor with 30 branches nationwide and an annual turnover of £59 million and has been a Master Club member for four years. In that time we collected over £240,000 worth of bad debt, formerly placed with a well-known firm of solicitors in Liverpool which they could not collect. TLC utilise full range of debt collection services from no collection no fee debt collection to the issue of county court claims and enforcement of CCJs.
TLC appreciated the speed and efficiency of our debt recovery. For example, in one case we did not give in to unreasonable payment plan requests when there were assets to seize. Through our appointed Enforcement Officer we were able to seize two vehicles belonging to a debtor which were sold at auction in order to recover a debt for £10,500.
Based on 24 county court claims issued and 22 judgments enforced, including legal advice TLC achieved a cost saving of approximately £6,031.
What our client said
We have used Master Collections since 2008 and they have become an integral part of our debt collection process. In particular the experience of Carlo Pegna has been invaluable when dealing with more challenging debtors with whom he has needed to negotiate a settlement. We are pleased with the service that they offer and the results that they have obtained.
Lynda Stevens, Company Accountant, TLC (Southern) Ltd
Cibosano Ltd is an Italian food wholesaler and distributor of food products and wine to restaurants, delicatessens and food outlets in the West End of London and nationwide.
Cibosano switched to a Master Collections Master Club membership from a rival supplier as their legal costs were not included in the subscription and they were frustrated with the speed of legal recoveries.
In the first year of joining Master Club, Master Collections achieved a 100% recovery rate, including debts the previous subscription service provider could not collect.
For example, Master Collections collected a CCJ for £7,600 in half the time the previous solicitor proposed as they wanted to issue bankruptcy proceedings against the debtor. This course of action would have been costly and very time-consuming with no certainty of success.
We advised a much more subtle enforcement option; register a charge against the debtor’s house. We would be able to acquire registration of an Interim Charging Order (ICO)without the debtor knowing. We suspected that as soon as the mortgage lender is notified of the ICO in favour of Cibosano, the mortgage lender would make the debtor aware which would put them under pressure. And that’s what happened. The debtor agreed to pay the CCJ plus costs, interest and court fees just three weeks after registration of the Interim Charging Order.
Trying to make the debtor bankrupt would have cost Cibosano around £2,500 plus VAT for costs, with additional disbursements of £1,540. In contrast there were no costs for making the Charging Order Application and registering the Interim Charging Order, as these were covered by Cibosano's Master Club membership. Furthermore the disbursements were recovered from the debtor. So
Master Collections Master Club Membership saved Cibosano £2,500 plus VAT in costs and £1,540 disbursements.
What our client said
We were approached by Master Collections over a year ago to evaluate their services in debt collection. I first thought, it's just another cold call company promoting their services. However, I decided to arrange a meeting with Mr Carlo Pegna. We agreed to a one year trial and, I have to say, that after only few months, we decided to extend the latter term.
They are dedicated and provide an extremely professional service. Our business revolves around Italian speaking customers and this has been a big advantage for us to work with Carlo with his bilingual skills. Dealing in their native language has meant resolving issues in a quicker and efficient way.
I would have no hesitation in recommending Master Collections to any SME business like ours.
Tottucio Castiglione, Director
Please get in touch if you want to get more information about any of our services, or to discuss an outstanding debt and how we might be able to collect it for you. Please call us or complete the form below and we'll get back to you.