Debtor Collections

A recent addition to our services, Corporate Debt collection is the fastest growing part of our business.

We act for Insolvency Practitioners and client businesses, as their collection agents on a pre-approved fee basis and in most cases our work is carried out on a no win no fee structure. Our success in this area is based on our highly individual unusual direct contact with the debtors and our ability to negotiate in a considerate but effective manner. We do not employ a team of faceless “debt chasers” and our success rate is far higher than the industry average.

We believe strongly that if the balance is due from the client and they have the ability to pay it then they will do so if the matter is dealt with in the appropriate manner.  A satisfied customer suitably wrote our motto of “If they owe it and have got it then they will pay it”.

Case history

1.A client IP was appointed to a company with debts approaching £600,000. The ex-Directors of the company had validated these as being collectable and all as being overdue. Our first job was to carry out due diligence on the debts to establish whether the Directors estimations were correct. It transpired that the realisable debtor book was only circa £350,000 as the financial data provided by the ex-Directors was incorrect and some of the contracts and payments due under these had become null and void due to the Administration process.

We were thereafter instructed to collect the debts acting as an agent for the Administrator and successfully negotiated a return we were told was far in excess of their expected level of recovery. This client now instructs us to handle all of their collections.

2. An Insolvency Practitioner client requested that we review a number of cold cases where the debtors had either ceased or expressed an inability to pay balances they had accepted as being outstanding. Some of the cases were older than 24 months and had already been passed to an outside agency with little success.

Each debtor was contacted personally and revised plans for payment were put in place. In some instances and in conjunction with the Insolvency Practitioner completely new and realistic payments were agreed. Through negotiation and patience we were able to organize revised payment schedules with 80% of the debtors and thereafter handled the chasing of the payments on a weekly/monthly basis. The Insolvency Practitioner was delighted that time consuming issues had been taking out of his hands and dealt with effectively and efficiently.

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