Success in the Fabrications Sector

Introduction

I was looking at the lists of reported recoveries this morning and two things struck me. Firstly I realised it had been too long since I had written a blog regarding our recent successes – I can only apologise but it has been a rather busy summer for us and I have been quite caught up  with my day job – and secondly that  the CPA overdue account recovery service really will work for anyone. You can read the blog I wrote about that here. It might seem simple what we do. We write a series of letters to your late payers, starting off very polite letter/email and with each successive letter getting slightly more direct. And written down like that it does seem simple.

So why does it work.?

It works because we are The Credit Protection Association, a letter or email from us carry gravitas and tell the debtor that the matter is now serious. If they have the means to pay they will and if they have a valid reason for withholding payment it will come out so that you can resolve the situation.

A third party getting involved does motivate people to to act and stop procrastinating. But you want the right third party. The Credit Protection Association has the name, the history, the expertise and the means to stand out from the rest. We are not making empty statements. If your debtor ignores us, he knows we will be advising you to take further action and that such action could have an impact on their credit rating. CPA will not only be advising you to take further action but we have the means to take action on your behalf.

The debtors do respond and we do see over 80% of accounts consistently being resolved by our Overdue Account Recovery service.

Success in the Fabrications Sector

As I was saying, as I was looking at the successful recoveries that had been reported in the last 24 hours I noticed on two consecutive lines something that amused me. We had a Fabrications company reporting that they had been been paid in full by a company that works with Glass. Then on the next line of my report we had a Glass company reporting that they had been paid in full by a Fabrications company. Well I thought it was amusing anyway.

On the first case, our member, based in the North east of England who has been with us for over 6 years now asked us to chase a debt of almost £15,000 from a Glass construction specialist.  The debt was 4 months old when we were instructed but the debtor responded to our letters and paid in full.

On the second case our member is glass and window specialist in the home counties. They asked us to chase a debt that was almost two years old when they instructed us, for over £32,000 which was owed by a fabrication company that specialised in metalwork that were based in the same county. We are not sure why they waited so long to chase such a large debt, perhaps they were important partners they were reluctant to chase but we are glad to see that debt as being reported in full today too, although we did have to go as far as sending our final demand.

Those are just two of hundreds of claims adding up to hundreds of thousands of pounds that were reported as being paid in full in my report today, covering all sorts of sectors.

Conclusion

It serves to demonstrate how the CPA system, providing all the credit management tools a business could need under the one roof, really benefits our members. We can prompt punctual payment!

We at CPA having been helping businesses like this since 1914!  If you are not already members, contact us at the Credit Protection Association and find out how we could help you.

James Salmon

Operations Director

7th September 2017

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