Saving the Digital Age: CPA Success Stories

13th February 2018.

While the Filofax was replaced with the iPhone, and filing cabinets were replaced with computer files, the business landscape slowly changed shaped.

Fintech became integral to the success of financial services, and digital marketing and automated customer service products become integral to the success of everyone else.

Technology is, therefore, an important element in all our lives, from the microwave in our kitchen to the iPad in our start-up business.

Ensuring the UK remains a front-runner in the digital race is essential, and our competition with rival economies keeps us as one of the superpowers of the world.

Nevertheless, purchasing and maintaining technology can be a strain, particularly on the purse strings.

Here at the Credit Protection Association, we free up the cash flow for many small and medium-sized businesses. Our debt recovery service, for example, frees up funding that our members use for new ventures.

Unfortunately, there are businesses that do not heed the warning and pursue the digital age without ensuring they’re financially viable.

Here at CPA, a number of our members have approached us for help with debtors who have used their services but have failed to make payment.

Here are some examples:

In December 2017 we received a case from our Member, who were commercial printers. The debtor was from the media sector, and owed our member £6,500 which was nearly 4 months old! The case was processed and sent to our solicitors. An LBA (Letter Before Action) was issued to the debtor and was ignored. A claim was issued and soon enough, the debtor paid the full debt amount direct to our Member!
In October 2017 we received a case from our Member in the digital media industry with a debt value of £6,500. The debtor was a social media company, and the payment was overdue by nearly 6 months! The case was processed and sent to our solicitors. An LBA was issued to the debtor and was ignored. A claim was issued and just as the solicitors were about to enter Judgment, the debtor contacted them and offered a settlement. Negotiations were entered into and the Member accepted 50 percent of the debt value, which came to £3,300. This was promptly received from the debtor and paid out to our Member.
In July 2017 we received a case from our Member, who produced automatic garage doors. The debt was for £1,000 and was overdue by 3 months. An LBA was issued to the debtor and was ignored. A claim was issued and Judgment was obtained. The debtor ignored the Judgment and an Enforcement Officer was instructed. The officer collected the full debt amount and paid it straight into our Member’s bank account. Even when it’s hard, its easy!

Keeping your business up-to-date and competitive is important, but this should not put other businesses at risk.

If you cannot afford to invest in new technology come to us at the Credit Protection Association to free up cash flow!

We think that suppliers deserve to be paid for services they provide!

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 being weighed down by bad debt?

Here at CPA, we are happy to help and love a challenge! Go ahead and contact us at the Credit Protection Association and we can talk you through the next step.