It pays to use CPA PAID.

Subscribers to the CPA PAID (Payment Against Invoiced Debts) service have the added feature in their subscription of asking The Credit Protection Association to purchase any qualifying debts that have not been resolved by our Overdue Account Recovery Service.

We believe in the effectiveness of our Overdue Account Recovery service which resolves over 80% of accounts submitted, but occasionally debtors do not respond and further action is necessary. In those cases we remind our Member that their money is at risk and invite them to instruct us to  take further action. Subscribers of the CPA PAID service are invited to submit the debt to CPA for purchase.

Once CPA purchases the debt, the member is paid and we take on all the collection costs such as court fees and solicitor fees, although of course we will seek to pass these on to the debtor.

Our member then has the peace of mind of knowing professionals are taking on the recovery and also the risk of the associated costs.

Some recent successes

One of our members, a design company based in the Nottingham area had a debt of over £600 which had been due since January 2016. Their debtor, a seller of trophies and gifts in Bristol had ignored all efforts to obtain payment our member thought the debt was uncollectable. PAID purchased the debt and within a month had collected payment in full. Our member had received their payment, CPA had recovered the money and the debtor had been made to pay. A win-win-win.

A Tile Company in Northants who had been members for many years was owed a small invoice of £263.87  by a building company. The invoice was 6 months overdue when they approached us and the member wasn’t sure it was pursuing having endured months of excuses. CPA PAID didn’t agree and  purchased the debt and went after the debtor.  We took legal action to recover this small debt and the debtor was made to pay the full debt plus costs and interest.  Our client was delighted to receive our payment to them, CPA recovered all it’s costs. Only the debtor was frustrated that his efforts to avoid payment had failed. Another win-win-win.

In the last week we have made many payments to our members. We sent a payment a couple of days ago over over £1200 to a member in Bishops Stortford on a debt we have purchased that was owed by a specialty retailer in Richmond. The debt is six months old but CPA have purchased it and we are now going to try and collect it. CPA maybe successful, we may not, but our member can rest easy knowing that we have taken on the credit and recovery risk and they now have the funds in their account.

We recently sent a cheque for over £2500 to a manufacturer in Greater Manchester. A Scottish retailer has been stalling payment of the debt since January. They offered the debt to us for purchase last month and we agreed to buy the debt. Our member now has had a cash injection and our debt recovery team have been able to secure payment from the reluctant retailer. Another win-win.

Could CPA PAID help you?

Give us a call on 0330 053 9263 or get in contact using the contact form below.

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James Salmon, Operations Director 18th July 2017