Age of Invoice: 126 days old Principal Sum - £9,321.60 Interest, Compensation and Reasonable Costs - £844.97 Days to recover: 10 days
Client – Insulation Contractor v Debtor – Electrical Contractor
Principal Sum - £9,321.60 – Interest, Compensation and Reasonable Costs - £844.97
We were instructed by a new client in July 2017 to recover a commercial debt against an electrical contractor who owed over £9000. Under “The Late Payment of Commercial Debts (Interest) Act 1998” our client was also entitled to claim interest, compensation and reasonable costs to the sum of £844.97.
Within 1 hour of instruction we were in contact with the debtor and the recovery process began, issuing a short form demand and contacting the debtor through our unique telephone debt recovery strategy.
Confirmed agreement of payment was made by the debtor within 48 hours and by the end of the week our client received 50% of their funds with the remainder being paid the following week.
We successfully recovered the full principal sum and additional costs totalling £10,166.57, within 10 days of instruction. The invoice dated back to April 2017, being 126 days old at the time of instruction.
Within 4 weeks of Darcey Quigley & Co successfully recovering our client’s funds the named debtor was liquidated, meaning that our client would have lost all of their money. The power of outsourcing has proven time and time again to be the most successful resource available to companies with late payments and bad debt issues. By instructing a third party it affirms the seriousness of the situation to the debtor and allows a faster turnaround for our clients.
So why choose Darcey Quigley & Co?
All cases are actioned within 1 hour of instruction
You will have a dedicated senior credit management consultant
You will receive a full case update or payment within 48 hours
We have a 93% success rate
We will aim to recover all costs you are entitled to (Under the Late Payment of Commercial Debts (Interest) Act 1998), covering your recovery costs
We are specialists in a wide range of industries and work with SME's to large multinationals
No commercial risk to your business, as we only charge upon successful recovery of your overdue funds
If you have any overdue or problematic accounts you would like to discuss, contact us today to see how we could assist you in recovering these debts. Call 01698 821468 or email firstname.lastname@example.org