BVA’s Voice of the Veterinary Profession survey found that 9 in 10 vets do work for which they charge but are subsequently not paid, with the monthly average bad debt reported to be £676.
To help its members, BVA undertook a detailed tender process for a new debt recovery partner before selecting LRC.
LRC offers a range of customisable debt recovery services, including pre-legal collections, legal collections and enforcement services. The BVA says it is one of the few debt recovery agencies in the UK to have been granted a licence by the Solicitors Regulation Authority (SRA), allowing it to operate as a legal firm under the Alternative Business Structure (ABS). This enables it to conduct litigation (court action) in its own name, without having to partner with a third party law firm.
BVA President Sean Wensley said: "We are very pleased to be offering this service to members at a reduced rate following a thorough process to select our debt recovery partner, during which we received excellent testimonials about LRC, including from veterinary businesses. Veterinary practices need to be sustainable businesses if they are to continue caring for animals and bad debt impacts on vets’ work. Having a reliable partner to recover bad debt is a welcome addition to the services BVA offers our members."
To access LRC’s debt recovery services at preferential rates, BVA members should contact LRC directly by calling 0330 024 6350 or emailing michaelwhitaker@legalrecoveries.com They will need to quote their membership number.
More information can be found on the BVA website at www.bva.co.uk/lrc
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