17th November 2017
CPA Don’t Discriminate Based on Age!: Chasing Old Debt
Late and non-payers can be a real difficulty for small and medium businesses.
Handle it wrong and a customer could be lost, ignore the issue and it can stifle business growth, and have a huge impact on cash flow and even cause a company to go bust.
There is a British reluctance to discuss money, and many business owners merely assume their client will pay eventually.
This is not always the case!
Here at the Credit Protection Association we will do our best to help, whether it’s been 2 days since payment arrangements broke down, or it’s been years.
A large number of our Members have come to us with old debts and have walked away with the full amount!
One such Member from the electrical industry came to us a few months ago with a debt that was owed by a building company. The debt was already 4 years old! We promptly sent a Letter Before Action (LBA) and within 10 days the Member reported they had been paid in full!
Furthermore, another Member from the Marine engineering industry came to us in October 2017 with a debt that was a year old! This one was owed to them by a local boat company. We shortly sent out a LBA and within 8 days this time, the Member reported back to us a full repayment!
Also back in October, a Member approached us with a debt that was a year old. We sent out a letter to the debtor, who was an office supplier, and within 1 day we got word from the Member that they’d received the full amount!
This just goes to show, that it never hurts to try. Don’t be shy to act just because time has gone by. Here at CPA we believe people should be paid for their services!
Even if the debtor does not respond immediately, or even if they put up a fight. We still will not give up!
Our litigation team here at the Credit Protection Association has seen numerous cases of old debt getting repaid, even if it has to go through legal action!
In March 2017 our litigation team received a case from a Member from the furniture industry. The debt was for £900 and was nearly six months old! An LBA was sent, then a Claim, and finally a Judgement. Just before further enforcement was required, the debtor paid the amount in full!
This was also the case with a Member of ours from the food industry who we passed to our litigation team. This was a £8000 debt that was six months old! As with the one above, both the LBA and the Claim were issued, but before a Judgement could be processed the debtor paid our Member back in full!
So please get in contact with the team here at CPA if you have any outstanding debt that you want recovered. From 2 month old debt to 2 year old debts, do not let them sit there gathering dust!
Do not hesitate to get in contact with us for help and advice. Please pass the matter to us as soon as possible as the quicker we act, the more likely we are to be successful!
Don’t be afraid to ask for what is yours.
Do you have debts owed to you by your customers? Do you have old outstanding invoices that need chasing? Are you unsure of your debtors identity?
We at CPA are pretty good at resolving these issues so why not take the risk? Go ahead and contact us at the Credit Protection Association and we shall see if we can help.
Ella Bond 17/11/17
Give us a call on 0330 053 9263 or get in contact.