FSB Debt Recovery: Take control of your late payments

Blogs 1 Jun 2020

Being paid on time is vital as a small business. Our new FSB Debt Recovery services can help keep your finances on track with all the support, guidance and tools you need.

Dealing with debt can be daunting if you’re a small business or self-employed, and chances are you’re all too familiar with the trend of late payments and missed invoices.

At the Federation of Small Businesses, we’ve been actively campaigning against late payments, and our Time to Act report shows that if small businesses were paid on time, it would boost the UK economy by £2.5 billion annually.

Introducing the new FSB Debt Recovery service

We’re always looking for ways to support our members as best we can, so we’ve listened to your feedback and are launching a new FSB Debt Recovery service.

“With 5.9m small businesses in the UK it is vital they have access to a variety of support services,” says Philip King, Small Business Commissioner. “I know how crippling late payment can be and that early action is crucial when expected funds fail to arrive. I’m pleased to see FSB adding this service to the support they offer their members and believe it will complement the help available from my office.”

Our previous service offered free letters and an online portal, but many members told us that they wanted more support in recovering their debt.

Here’s how our new service is responding to your feedback by offering your business expertise, more control and certainty of costs.


Many of our members said they wanted more help when it comes to getting their debts paid, and that simply being able to call someone in the know would help them start their debt recovery process.

You told us you wanted to talk to an expert about debt recovery, which is why we’ve introduced a 24/7 legal advice line, with specialists to guide you through the process. Whether you have a quick question or need more assistance, they’re only a phone call away.

Having the support of a legal professional means you’ll know you’re taking the right steps to reach a resolution.


When you’ve got a business to run, researching the next steps yourself can be time-consuming and may not result in receiving the funds you’re owned any quicker. With professional support, you can speed processes up and get your business’ cash flow back on track.

Members asked us for more control over the process, which is why our new debt recovery service offers all the support, guidance and tools you need, including:

  • Comprehensive guidance from specialists to help you manage late payments
  • 24/7 legal advice line
  • Downloadable guides to help you follow a clear process
  • Access to free, customisable and legally compliant letter templates
  • Ability to take control with tools like our interest calculator, which lets you easily work out any interest that may be due on the debt
  • Services to support you through the entire process, from credit control letters and compliant letters before action, through to court proceedings and enforcement

We’re supporting your business with the resources you need throughout the debt recovery process. By knowing what you should do and when, you can often recover debt sooner and claim the interest you are rightly owed.

When all else fails, legal action is the last resort for recovering debt owed to your business. This can be complex and costly, and without expert help, is a stressful and time-consuming process for any business.

Members told us they wanted to understand the costs around taking legal action. With FSB Debt Recovery, there are no hidden fees. As a member, you get clear, discounted and fixed costs at each step of the journey.

How can I use the new FSB Debt Recovery service?

When logged into the FSB website, members can visit the FSB Legal Hub, where you’ll find a new ‘Debt Recovery’ icon. From here, you will be to access a bespoke range of guidance, template documents and letters, as well as 24/7 legal advice from qualified and experienced lawyers.


Take back control of your cash flow

It’s time to get the money you’re owed thanks to FSB Debt Recovery. Step-by-step guidance on chasing late payments, 24/7 support, free DIY template letters and clear, discounted legal costs.