13th April 2017. By James Salmon, Director.

We are delighted to report another success. Among the hundreds of resolved debts every week, this one stood out.  Recently we were given a debt to chase by a new Member valued at over £17,000 which covered several invoices over multiple months. The Member didn’t expect CPA to be able to get payment. In fact the member was convinced that costly legal action was going to be necessary to make their debtor pay. They had been contemplating court action to recover this commercial debt and only asked us to get involved first so that they would be able to say in court that they had done all they could to recover the debt before taking legal action. They were certain that it would be necessary to involve solicitors and a hearing.

However after they passed the matter to the Credit Protection Association, we got in contact with the debtor and three days later a very surprised member reported the debt to be resolved.

All this was done as part of their annual subscription fee to our service. If they had gone to a normal debt collector, they would have charged at least 10% (most likely 15% or more) and the legal costs may have been even more.

Do you have reluctant payers who could do with being prodded by The Credit Protection Association?

Previous CPA Blogs that might interest you.

13/4/2017 But I only deal with blue chips….

12/4/2017 CPA’s Information Partner wins another award

10/4/17 Who Do You Listen To?

5/4/2017 How to Improve cash flow within your business

4/4/2017 Prompt Payment Code is having a “real material effect”

31/3/2017 Fed up with your credit insurance? There are alternatives.

30/3/2017 Over 60% of Third Party Letters Result In Payment.

29/3/2017 Our Service Department

28/3/2017 HMRC are shutting down more businesses in the pursuit of unpaid taxes.

27/3/2017 How to select a debt collection agency.

27/3/2017 Are you losing sleep over a debt you are owed?

24/3/2017 Have you met the new pound coin?

23/3/2017 Do you know who you are trading with?

20/3/2017 CPA plc launches its new website