Escalation of Debt Recovery
Fortunately, over 80% of overdue accounts referred to CPA are resolved by our Overdue Account Recovery Service that is included in our membership. What though of the small percentage of accounts that need to be escalated?
Debt Purchase for Business & Company Debtors
If your late paying customer is a business or limited company, you can enhance the chances of recovery by submitting the debt to CPA for purchase on recourse. CPA’s collection professionals will take on the case and upon successful recovery we will remit to you the recovered debt less our modest debt purchase fee.
Recourse debt purchase has a number of advantages. From the moment CPA confirms acceptance of the debt, it becomes under the control of CPA. We make no upfront charge for this service and CPA have a huge interest in achieving maximum recovery through ethical but firm means – and if deemed appropriate, through legal action at CPA’s own risk and expense. We retain highly experienced City solicitors who specialise in account recovery and CPA is responsible for payment for all irrecoverable legal and court costs. Yes, it’s true – with recourse purchase, collection costs are for the purchaser – CPA in this case!
Debt Litigation
For late paying non-business debtors and in cases where debt purchase is not preferred, CPA continues to offer its debt litigation service. CPA’s litigation professionals will discuss the case with you so that you may decide the best way to progress. We retain highly experienced solicitors who specialise in debt collection. Here comes the good news. For commercial debts in England, Wales, or Northern Ireland, all the costs can be recovered from the debtor. So, if your paperwork is sound, and the debt is collectable , judgement will be awarded by the court and you will get paid in full . If your situation isn’t as clear-cut as this, or the debtor is in Scotland or overseas, don’t worry, CPA can still help – just talk to us and discuss the options.
Not a member?
For our members we would always recommend using the Overdue Account Recovery service and a subscription to CPA will be the best option for most businesses that, even if it is only occasionally, have to wait to be paid. However, if you are not a member and have an individual debt that is concerning you then we will be happy to discuss the above options with you.