Another CPA Success - CPA | The Credit Protection Association

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?