Commercial Debt Recovery & Collection

This page is a huge resource that describes the benefits of our FAST commercial debt recovery service to our clients.

Below is a list of topics we discuss and this table of contents will take you to each section at your convenience with a click of a button.

What Makes Master Collections Unique: At a Glance

  • We collect fast and pay out faster than your average debt collector and solicitor.
  • On average we collect within 9 days from the date a letter of claim is posted.
  • An excellent client retention rate. We have firms that have been customers for 13 years or more.
  • Flexible approach to Payment Plans. We engage with your debtor ensuring you receive instalments quickly without having to worry about our commission until the Payment Plan is complete or every quarter whichever is the sooner, that in any case we collect from the debtor as per a Settlement Agreement.
  • Access to the same Private Investigators banks use, as a result you can be sure we can find hidden assets and runaway debtors.
  • The only debt collection agency on the market that offers a credit management membership that saves members £1,000s of pounds in legal and enforcement costs each year.
  • We assess whether a commercial debt is collectable saving you time and money. This includes who in the debtor organisation to address letters to. In some cases clients aren’t getting paid because they do not know who is responsible for ensuring their debts are paid on time or simply do not know who the business owner is.
  • We succeed where solicitors and other debt collectors fail. There isn’t a solvent debt we cannot collect.
  • We have access to top insolvency solicitors that subject to assessment and disbursements can issue a winding up or bankruptcy petition on a No Win No Fee basis.
  • In 80% of cases we collect our costs from the debtor, plus late payment interest and late payment compensation as per the Late Payment of Commercial Debts (Interest) Act 1998 thereby not only providing a service that pays itself but also increasing your profit margin.

Why Your Debt Recovery May Even be FREE

The Late Payment of Commercial Debts Interest Act 1998 gives creditors the statutory entitlement to debt recovery costs.

As a result, in business to business matters, you can recover the cost of recovering the debt from your debtor.

Many No Collection No Fee or “No Win No Fee” debt collectors will promote this in their marketing material in an effort to win your business, ‘we add our costs to the debt it will cost you nothing.’

But what happens when the debtor refuses to pay the costs added to the debt? The agency invoice you for those added costs, so perhaps not quite the No Win No Fee or No Collection No Fee service you were lead to expect.

At Master Collections we do not believe in sales gimmicks. We are completely transparent and upfront with our customers from start to finish.

Yes, we recover our costs from the Debtor where there is scope to, but we make it plain unlike other debt collectors. This is providing the debtor pays and around 85% of the time they do.

In the small cases where they don’t, we offer recovery options to help ensure you are not out of pocket.


While, depending on the level of service, we do require either a Passport or Membership fee in order to access our service, this is for a number of reasons and what sets us apart from typical “no-win no-fee” or ‘no collection no fee’ agencies:

  • Master Collections is owned by a legal executive to help resolve complicated disputes where other agencies typically do not offer such personell for the simple reason it’s too expensive a resource. As an alternative they will outsource to a solicitor where things get expensive for the client, not the agent.
Carlo Pegna Master Collections
Carlo Pegna, Legal Executive and owner of Master Collections
  • We take your commercial debt recovery all the way with a bespoke approach. ‘Free’ agencies follow a rigid template for chasing debts. Usually a letter, followed by a telephone call. 

These agencies may work for a simple, straight forward collection, but they come undone when challenged by debtors with complicated disputes or deviate from the matter by making a nuisance of themselves.

This is where Master Collections shines – by charging an upfront fee, Clients have access to a more robust debt collection service where we collect and pay out the outstanding balance collected FAST.

The basis of our fee structure gives us no reason to hold onto your money for longer than 7 days from the date the outstanding balance is collected (the Collection Date).

Some No Win No Fee debt collectors will hold on to your money for 21 days or more from the Collection Date.

We are also able to offer a less onerous and more flexible approach to Payment Plans with your debtor.

Unlike some No Win No Fee debt collectors, we collect our costs on completion of the Payment Plan or every quarter whichever is the sooner, rather than on commencement.

This ensures you receive the instalments quickly without having to worry about our costs until the Payment Plan is complete or every quarter whichever is the sooner, that in any case we collect from the debtor as per a Settlement Agreement (the Agreement).

Alternatively if the debtor defaults on the Agreement we only charge costs on the sum collected.


Contact Us Today and We’ll Provide Free Advice on Collecting Your Debt


With Master Collections, our goal is to make sure your invoices are at the front of the payment queue and that you get your money as soon as possible. 

From the first contact we make with the debtor, they will know how serious you are about collecting the payment and you are not going to continue being ignored and unheard.

Master Collections appreciate your debtors do not have the same profile. They vary from one debtor to the next and for that reason we do not provide an all size fits all approach.

The first thing we do is assess the viability of collecting your debt in order to recommend a strategy that is likely to get you the quickest result.

Generally, once Master Collections has issued a Notice of our intent to proceed with legal or bankruptcy or liquidation action, it’s enough to get a response from most debtors. Even those who have thus far given you the silent treatment.

Which Business Types Can Master Collections Collect Debt For?

We offer our debt recovery service to businesses of any size who have provided services or goods to another business and have not been paid within the agreed upon terms for payment.

As long as the debt is over £650, we can help.

When there are no payment terms in place, the current legislation dictates that payment is due 30 days after an invoice has been issued. 

We also work for businesses from any sector operating in the UK and even help collect debts in Italy.

To date, Master Collections has successfully collected unpaid invoice payment for a multitude of  companies, ranging from large businesses to self-employed contractors.

The value of the debts we have collected vary from around £650 to the hundreds of thousands.


Contact Us Today and We’ll Provide Free Advice on Collecting Your Debt

How Quickly Will My Commercial Debt be Recovered? (Hint…FAST!)

In 9 days on average. When we said fast, we meant it.

We usually take no more than 14 days to recover business debt. 

Some even within just a few days and some even pay fully when we immediately contact them.

In more than 80% of debts we collect, our costs are paid by your debtor, as well as late payment compensation and interest, thereby increasing your profit margin.

Why Business to Business debt recovery matters

If you uphold your end of an agreement and deliver goods or services within a specified time, it’s only right that you are paid within a reasonable time too. 

Chasing payments from clients wastes your time and resources and can have a direct impact on the profitability of your company. 

Within the late payment legislation you are legally entitled to be paid on time within agreed terms between you and your client. 

Spending time and effort to chase unpaid invoices can be frustrating and stressful. 

It also takes you or other employees away from spending time on more important things for the expansion and growth of your company. 

Late payments can cause problems further down the line as it means businesses are in turn not allowed to pay their suppliers. 


“Just a word of thanks for Master Collections help in getting my outstanding invoice finally paid. I’m not sure I would ever have been paid without the tenacious endeavours of Carlo Pegna. I highly recommend the Debt Collection Master service.”

Colin Butcher

Delta Architects

Good working relationships that you have built up with suppliers can suffer and all because you’ve not been paid fully on time.

Each and every week there are UK businesses that are pushed to shut down their business, unable to pay suppliers and overheads.

All while your debtors could easily fix the problem and clear their debts.

What Benefits Do I Get From Hiring Master Collections?

The benefits to companies who hire us for their commercial debt recovery are many, including:

  • Access to the same Private Investigators banks use, as a result you can be sure we can find hidden assets and runaway debtors.
  • A qualified legal manager.
  • Enforcement of County Court Judgments (using our Master Club service).
  • A massive amount of money saved in legal costs (using our Master Club service*).
  • An end to dealing with annoying debtor excuses.
  • Educating your late paying debtors that their invoice should be paid fully and on time.
  • Receipt of 100% owed payment and in many cases, late payment interest and compensation.
  • Increase in profitability and better cash flow.
  • Full debt recovery and collection solution.
  • Master Club member stamp; a useful late payment deterrent reducing the need to refer debts to us in the first place (using our Master Club service).
  • An end to tiresome and stressful outstanding invoice chasing.
  • Market leading online Credit Referencing (using our Master Club service).
  • A robust Credit Application Form (using our Master Club service).
  • A Credit Control letter cycle reducing the need to refer debts to us in the first place (using our Master Club service).
  • For businesses that supply goods, robust Terms and Conditions (using our Master Club service).

*table below of costs that can be saved with our Master Club membership

Legal action or otherSolicitorMaster Club
Letter of claim£7.50 + VATNo collection, no fee
Pre-legal correspondence and telephone calls£190 + VAT per hourNo collection, no fee
Credit report£120 +VATNil
Preparation of County Court Claims £200+£80 to £730Nil
Enter a CCJ and issue of warrant of control£22 – £30Nil
Application as follows:  
For order for information£115Nil
Attachment of earnings£95Nil
Third party debt order£750Nil
Charging order£550Nil
Defended actions£190 + VAT per hourSee note 1 below
Legal Advice£190 + VAT per hourNil
Instructing counsel and agents£190 + VAT per hourNil

Note 1 – Defended Actions

To avoid disproportionate costs for claims up to £10,000, costs are fixed. For claims at £10,000 or above top city solicitors at discounted rates from £180 plus VAT an hour.

Master Club will make even greater savings for businesses that issue more than two claims a year because legal cover is unlimited.

Depending on turnover, Master Club costs half of what a business would usually be charged by a solicitor for one complex defended action worth £5,000.

How Does The Commercial Debt Recovery Process Work?

We don’t ask you to complete complicated and laborious referral or instruction forms. No need to introduce anymore stress than you have endured.

All we ask you to do is send us:

  • A Statement of Account if more than one invoice is outstanding;
  • or
  • The outstanding invoice.
  • A copy of the contract to which the outstanding invoices or invoice pertain, if indeed a contract in writing was entered.

You can send however is convenient for you, email, fax or post. Once we receive the documentation we take care of the rest.

Depending on how soon we receive your instructions as above, we can commence debt collection on the same day.

Depending on our assessment, we will either post a letter of claim or Notice of Intent to Commence Bankruptcy/Liquidation proceedings.

In our experience, we have found debtors will make a payment after we have corresponded with them for the first time. 

Generally, debtors will pay within 9 days from the date the letter or Notice is posted.

Alternatively, if no progress has been made after 14 days we will attempt to:

  • Call the debtor.
  • Email the debtor.
  • Depending on the outcome of the call or email, advise you if it is necessary to issue legal or insolvency proceedings.

In the majority of cases, because of the wording of our letters, there is no need to follow up debtors with a telephone call or email.

They contact us or you soon after receipt of our letter or Notice.

Which Debts Don’t We Collect?

It’s important to note that we do not carry out debt collection for amounts less than £650 or on non-commercial debts (personal), residential rent arrears, personal loans and other similar forms of debt.

How Long Will You Work to Recover Debt Owed to My Business?

If we’ve identified during our free debt assessment that the debt is collectible, we’ll chase your commercial debt all the way.

There are some rare cases where we are unable to recover your owed invoice, but usually we secure payment within 9 days from the date the letter or notice is posted.

There are some debtors who will refuse to pay us or just ignore us until legal action is taken.

We are well equipped for this where other agencies aren’t. Most agencies stop here or outsource to solicitors, but we have inhouse legal executives who know the law and will chase your money owed to the end.

It is a pleasure working with Carlo Pegna at Master Collections. I am very impressed with his personal service. His professional approach helped our business recover more than £40,000 worth of debt, including 100% of our legal costs and late payment interest. His response enabled us to resolve the issue within a month.

A. Waheed

Surrey Security Service Ltd

What Happens If the Business Still Won’t Pay Their Debt Owed to my Business?

Although it’s unlikely, there is a possibility we are unable to recover the debts during 14-days. This is where we shine and where most agencies stop working for you. 

When this occurs, we can use the information collected in the 14-days to find the best legal solution to continue chasing and collect the outstanding debt. 

This is where we use our expert legal knowledge and qualifications to provide a bespoke way of recovering your funds on a case-by-case basis.

We deal with a relatively small number of cases where the debtor has become insolvent and unable to pay client’s debts.

But even in these cases, we will do all we can to ensure you get paid – including, among other things, depending on your influence as a creditor in the insolvency proceedings, appointment of a Liquidator from our panel of insolvency practitioners.

As a result, where the debtor is a company, you can demand an investigation into the conduct of the director or board of directors with the aim of seizing any assets they own in order to settle debts owed to creditors.

Although an investigation will be considered as a matter of course, generally we find a Liquidator appointed by creditors and not the director or board of directors, will be more vigilant.

Nevertheless, pinning liability on the director or board of directors is not easy, and you should be wary of any Debt Collector that will lead you to believe it is. For further details on how some Debt Collectors cash in on this false hope, click here.

Master Collections has your back every step of the way (this is usually where other agencies come up short).

Master Collections offer a unique credit management membership that provides enforcement of CCJs, all inclusive.

Except for defended matters, legal costs are all inclusive. Alternatively, for defended matters where the claim is less than £10,000 fixed costs proportionate to the value of the claim, and all other matters are referred to solicitors at discounted rates.

In fact, we save members thousands of pounds in legal and enforcement costs each year.

The same costs you would typically be charged by other agencies that outsource to solicitors.

If that isn’t bad enough, when some of these debt collectors outsource to solicitors, you have no direct contact with the solicitor and they even charge an instruction fee.

Not so with Master Collections. For claims up to £10,000 that are defended, you are allocated your very own Legal Manager that prepares for the hearing.

For claims above £10,000 that are defended, we refer to our panel solicitor at a discounted rate with whom you have direct contact.

Commercial Debt Past Due Envelope

Winding Up to Recover Debt From a Company

Demanding payment of your outstanding invoice(s) where your debt is unsecured with the threat of winding up or bankrupting the debtor might sound crazy, but sometimes it is the only way to get paid.

Admittedly, it can be a gamble, but you can leave it to us to ensure you’re able to make an informed decision.

Indeed, if the debt is paid on presentation of a Winding Up Petition, the debtor is liable for all your costs, and the one thing that may motivate them to pay up is avoiding publication of the Petition in the London Gazette, because once published the bank will freeze their bank account.

Master Collections have a panel of specialist insolvency solicitors that, subject to disbursements and viability, can issue a Winding Up or Bankruptcy Petition on a No Win No Fee basis.

They have produced fantastic results at no cost to our clients including the recovery of £96,000 of a one year old debt.

What are the fees involved for a Winding Up or Bankruptcy Petition?

Disbursements vary depending on whether you wish to issue a winding up or bankruptcy petition and do change from time to time. Below are disbursements as of 12/09/19:-

Winding up Petition

(i)        Counsel                                                                        £   125 plus VAT

(ii)        Court fee                                                                      £   280

(iii)       Official Receiver’s deposit                                             £1,600

(iv)       Search Fee                                                                   £     11

(vi)       Process server                                                             £   120  plus VAT

(vii)      Advertisement of petition                                               £   104

Bankruptcy Petition

(ii)        Agent fee per hearing                                                 £    75 plus VAT

(iii)       Court fee                                                                     £   280

(iv)       Official Receiver’s deposit                                          £   990

(v)        Search fee                                                                  £     10

(v)        Land charges search fee                                            £       2

(vi)       Process server                                                            £   120 plus VAT

Please note you can only issue a Bankruptcy Petition against a debtor individual if they have been served a Statutory Demand and the same has not been set aside.

The Official Receiver Deposit is refundable if the debtor is not wound up or adjudged bankrupt.

County Court Judgment Enforcement

In just days after a CCJ has been issued against a debtor, their credit rating and report will be negatively impacted. If they are able to satisfy the terms of the Judgment within 28 days, they can apply to have their judgment erased from the register. 

When a judgment is removed, the credit rating can then be restored. If, though, it is atisfied after 28 days, it will still be marked as satisfied and settled, but the effects on their credit rating will remain in place for 6 years.


There is never a full guarantee that a Judgment is going to be paid, despite the warnings of its severe financial implications.

Master Collections offer Master Club members the full range of enforcement options all inclusive including the following:-

  • Warrant of Control.
  • Third Party Debt Order.
  • Charging Order.
  • Attachment of Earnings.

In addition for your more tricky debtors we can prepare an Order for Information ordering the debtor individual or director of the debtor company to appear before a court officer or judge for questioning.

This is very powerful because not only will it order financial information to be disclosed but also it comes with a powerful sanction.

If the director or individual does not appear in court when ordered he/she will be in contempt and served a Suspended Committal Order committing him/her to prison if he/she do not appear on a second date.

Don’t Debt Collectors Have Poor Reputations?

It’s a painful truth, but yes, many do have poor reputations.

A huge reason why late payments are such a massive issue these days is because lots of companies are reluctant to hire debt collection services. 

This is generally based on the fact that some debt recovery firms have poor reputations and the methods they use can be damaging to your reputation.

Not Master Collections (despite having to deal with competitors leaving fake 1-star reviews on Google, the cream always rises to the top).

With Master Collections, you get a service that is in line with UK government legislation and enforces rights attributed to businesses by the Late Payment of Commercial Debts (Interest) Act 1998.

Our Case Studies & Testimonials

You may have noticed our testimonials sprinkled throughout this guide. We have many, many success stories and in connection with some clients who we’ve worked with for over 13 years!

Here is another happy client:

We have been working with Master Collections for over four years and have found them to be highly professional and responsive in all our dealings, and very successful in collecting our aged debt.

Martin Bromfield

OneSource Information Services

And another…

“We have used Master Collections since 2008. They have become an integral part of our debt collection process. Carlo Pegna’s experience has been invaluable. We are pleased with the service and the results that they have obtained.”

Lynda Stevens

TLC (Southern) Ltd

Reviews of Our Service

Commercial Debt Recovery Rating


Trust Pilot


We are rated 4.4 stars on Google for our service (even after fake reviews from competitors)

We are rated 4.7 stars on Trust Pilot where every review is a verified and happy client!



Contact Us Today and We’ll Provide Free Advice on Collecting Your Debt

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