Our debt collection agency was recently instructed to recover a debt in Manchester. The debt was over £50,000 plus commercial costs from a construction company. The debtor and client are both based in Manchester area.
The debt had been sitting unpaid for a number of months, affecting the client’s cash flow. The debtor at first disputed the debt and refused to pay. Minor disputes and snagging were the reason alleged for withholding payment.
Debt Collection Agency Investigates
AYOM assigned a senior agent to the client to investigate. They quickly spotted that the debtor had not obtained a third party report. A report would have a basis for proof that any of the work was defective. This would be essential in maintaining a legitimate dispute. Our agent also identified the amount of cash withheld was completely out of proportion.
Our collectors contacted the directors. Our collectors advised them of the consequence of withholding payment. The debtor tried to argue that there are snags on the job, but they simply could not justify over 50,000. The construction job was complete and to a standard which justified the payment.
Mediating with debtor
Mediation is an important part of our job. Our collectors have many years experience dealing with debtor disputes. Using a mix of evidence and reasoning, the debtor finally saw the client’s side of the story. Our collector received an immediate down-payment of 18,000. Furthermore, the debtor has now paid and the rest of the debt except a final £1,000. The final £1,000 is due in the coming month. AYOM's collection agents are now negotiating with the debtor over the costs. which are substantial.
Acting fast
The key to successful recovery often lies in the timescale. It is far more effective for a debt collection agency to become involved sooner. With evidence, a good collector will have the necessary tools to bring a debtor around to making payment. While it is indeed possible to recover older debts, it can become more complicated. For this client, the disputing debtor quickly faced our collections team. The team surveyed the case and ensured the debtor realised there was a need to pay. Mediation is a skill we expect all of our collectors to be experts in. With our recovery percentages and total collection figures each month, we ensure our team can fight your corner.
Award winning debt collection agency
To have us step in and handle your debt, contact us today. Deal with your debts fast by employing the experts; here for you. To chat with one of our advisers please call 0800 130 3357 or email enquiries@ayom.co.uk for more details. We are the firm that overcomes objections and recovers your debts.
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