Debt recovery specialist Red2Black Collections Limited is hoping to maximise recovery rates for its prospective clients by launching an innovative new product to the market.

Red2Black Collections, which offers outsourced collections at every stage of the debt collection life cycle, has launched ‘Loss Prevention Plus’, a one-stop solution designed to make the debt collections process a quicker and easier process for many of its clients.

Nick Cherry, Director and General Manager of Red2Black Collections commented: “All customers will still have access to our full end-to-end service, but our new ‘Loss Prevention Plus’ product has been introduced as an off-the-shelf solution for clients, which combines as one offering the services which we receive the greatest demand for – early and late day collections, asset recovery and litigation.

“This tailored service has already proven to deliver results amongst our existing clients, emphasising how a seamless escalation through each of these important collections functions is a winning formula. In the current economic climate most creditors are facing increased volumes of impairment, increased roll rates and a change in demographic to their arrears portfolio. ‘Loss Prevention Plus’ provides the answer by maximising recovering performance.

“Most importantly, the product can be tailored to dovetail with the creditors’ own collections process to deliver and enhance performance.”

The launch of the new product follows a successful year for Red2Black Collections, who celebrated record growth this year, attracting an average of three new clients per month since its rebrand in early 2008.

The company has also recently become one of the first ever debt collection agencies in the UK to partner with the Samaritans to help train its workforce in becoming the industry’s most effective communicators.

Nick Cherry added: “By offering high quality solutions across the debt collection life cycle, our unique business model allows the client to choose one or all of our services to suit their needs and eliminates the need for them to maintain multiple servicer relationships, by providing one focal point for all client interaction.”

Via EPR Network
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