Increasing debt levels on community heating schemes is a problem for many landlords.
Residents are being impacted by rising prices in every aspect of their lives, from energy to food and fuel. The threat of slipping into debt and fuel poverty has never been greater. Switch2’s debt management service provides the knowledge and experience to support residents and protect client revenue.
- 400% – Increase in debt over 6-months following end of debt management services.
- 64% – Average debt reduction with a standard debt management contract.
- 60% – Of scheduled disconnections cancelled on receipt of a payment, and agreement of a payment plan.
- 30% – Reduction of customer debt in just 6-months, without the option of disconnection.
Debt management allows for recovery of existing debts in a responsible and empathetic manner, considering vulnerabilities and individual circumstances, ensuring a positive outcome. Implementing debt management helps prevent debt from escalating and avoids pushing residents into fuel poverty. Entirely flexible to your relationship with residents, with options such as installation of PAYG meters or full disconnections available as required. With over 60 schemes already under contract, and a recovery rate of 64% in the last 6 months alone , Switch2 is a trusted, credible, and proven debt management partner.
‘Switch2’s debt management team have demonstrated a clear commitment to delivering a high standard of customer service, which complements our own approach to customer service at Urban Splash. One of the key challenges we have faced is rising gas prices, and the consequences this has had on our residents. Despite this Switch2 have managed to recover significant monies, without having to disconnect residents, which is testament to Switch2’s approach to customer service.’
Julian Curnuck, Finance Director, Urban Splash
Switch2 debt management allows you to remove the risk and responsibility of pursuing all arrears. Customers given 10 days to make payment.
Telephone prompt for full payment or engage in a budgeted agreement.
Final demand notice sets the customer a deadline to make payment before further actions such as disconnection begins.
All non-payers offered a window of seven days to avoid disconnection.
Flexible Disconnection Options
Gives the customer seven days to make payment before we isolate their supply. Reconnection only occurs after agreed payment has been made.
Where disconnection is not an option, Switch2 can install PAYG units (also known as prepayment) which are preloaded with outstanding debt and collect a set % from all top-ups.