As a utility provider, your customers are among the most varied of any sector. At LF Debt Solutions, we understand that this means that every customer interaction must be individually tailored to each set of circumstances.
Our utilities sector partners know our solutions are individualised to each situation and designed to deliver the maximum returns. We are disrupting the debt recovery market in the utilities sector with our creative and commercially astute approach, providing clients with innovative solutions that enhance profitability and sustain reputations.
Whether dealing with a vulnerable individual consumer, or a major business customer, we lead the way. We ensure that your objectives are met, while also providing market-leading service to your customers. You achieve maximum recovery and improved commercial efficiency, while your customers receive a sensitive and professional service.
Benefits for utilities clients
The breadth of customers utility providers deal with is unrivalled, as is our understanding of the sector. Our debt recovery solutions are bespoke and highly specialised.
- Business customers – with your corporate customers, we deploy a robust set of strategies to both minimise the possibility of debts occurring and to ensure that collections are as smooth as possible.
- Consumers – our approach with individual consumers is different. We understand the challenges that high levels of personal indebtedness and more precarious working arrangements create for many people. We also understand the impact avoidable billing errors can have on your ability to recover debts. Our trace and investigation experts will ensure that you have the most reliable, accurate information on each customer available, so that strategic decisions can be made quickly and effectively.
- Effective documentation – our clients’ business and consumer customers understand their obligations clearly, making recovery easier and disputes less likely.
- Streamlined workflows – streamlined and efficient processes reduce delays in the collection process for our clients, meaning that recovery from both business customers and individual consumers is more successful.
- Better due diligence – our clients know their customers, whether businesses or individuals, meaning our solutions can be truly bespoke, tailored perfectly to the circumstances of each case.
Debt recovery in the utilities sector must adhere to the OFGEM, OFWAT and OFCOM compliance and regulatory frameworks, as well as relevant FCA guidelines and regulations. The ongoing programme of continuing professional development in place for all our highly trained and experienced debt recovery professionals means that they not only operate proactively within the current regulatory environment but can also anticipate future developments in the area.
As the market for utilities continues to be disrupted by new entrants and more competition, we are also disrupting the debt recovery market. One way we are challenging traditional approaches is through our focus on customer service.
Utilities companies need to show a sensitive understanding of their customers’ needs which reflect their position as a provider of essential services. Our experience in this sector means that we will protect your reputation while maximising recoveries and provide your customer with the most satisfactory experience possible.
Our commitment to challenging the status quo in the debt recovery market extends to our pricing structures. Our clients benefit from potentially free debt collection on successful recovery because of our bespoke fee arrangements.
Services for the utilities sector
Our experience in the financial services sector allows us to be proactive and innovative with the solutions we provide. We streamline our clients’ workflows, increasing the efficiency and effectiveness of the debt recovery process.
Bespoke solutions we provide in the financial services sector include:
Outsourced collection – “white label” LF Debt Solutions outsourced services make our creative, pro-active approach a seamless part of your team.
Trace and investigation – understanding your customer is the key to ensuring that you treat all customers fairly. Our market-leading due diligence processes increase the efficiency and effectiveness of collections.
Collection and recovery – we support your internal function to enhance the power and scope of your operation.
Enforcement – we advise our clients on the best enforcement approach for the individual circumstances of each case.
Disputed debts – Lupton Fawcett LLP boasts some of the best litigation, ADR and mediation lawyers in the country, meaning any legal proceedings are managed smoothly and effectively.
Debt purchase – free, in-depth analysis of your ledger offers you insight into the appropriateness of debt purchase as an option for certain debts. Our experts will guide you through every stage of this process.