Debt collection strategies pay off for CPA members

24th May 2017, James Salmon, Operations Director.

The 24th May 2017 was another notable day for debt collection at The Credit Protection Association.

Accountants & Builders

One of the many firms of Accountants we have as members, that makes good use of our services, logged on to the site and notified us no less than 90 of the debts they had asked to chase had now been paid in full.  The debts ranged from under one hundred pounds to almost twenty thousand pounds but we were delighted to be updated on the success and we are sure the member appreciated the several hundred thousand pounds of improved cash flow.

One of our members in the building trade reported that they had been paid in full on a £16k debt owed by an office fitter in central London after we had sent our final demand only days ago.

Old Debts

A member in Scotland came to us with two small debts from 2014 that for whatever reason had not been passed to us before. Perhaps the member thought it wasn’t worth wasting time on the two debts which were each under £100. However at CPA we treat every debt impartially and we gave it the full go. It took us a month as the debtors were resistant but we were persistent and it was a delight to hear that both debts have now been paid in full.

One of our new members in the transport industry has given us five of their older debts to chase first. It was good to note today that three of their year old debts have now been paid in full and while the fourth came back that the debtor had left the address, we now have his latest address and have been able to start chasing at the current address. We only wish we had been successful with the one other debt which was from 2015.  But we are sure our success rate will increase once the member gives us their more recent overdue accounts and they start to make use of our debt collection strategies to the full.

Conclusion

We will leave it there for today and if you have read this far – well done and thank you. If you have overdue accounts that you are worrying about – large or small, old or recent – then talk to a Credit Management company that has been zealously getting its members paid for over one hundred years! The Credit Protection Association will be happy to help whether you have hundreds of debts to chase or just a few. We can tailor a package to your needs.