Case Study – UK Collection for
an Overseas Client
Client: International Shipping & Container business
Customer/debtor: UK Fresh Food suppliers
Or call our team today on 01766 772288
Our Case
We were asked to take on some aged debt, approximately 10 months past its due date, to the value of £36,000. The customer cited the reasons for non-payment as they were experiencing non-payment from own debtors due to downturn in trading conditions across the sector.
Approach
Our collector opened a dialogue with the customer, and while agreeing that times were challenging for them, equally, they were challenging for our client. Patient but firm negotiation based upon our collectors’ experience enabled the customer’s CFO to authorise payment of the principal sum in full.
Challenges
Despite a plea from the customer to waive the costs involved, our client was adamant that they wanted to enforce payment of the principal sums and costs, as a remedy to the age of the debt and focus away from normal trading endeavours.
Success
Payment in full was achieved within 4 weeks., including the full amount of the costs, and the trading relationship was preserved, The customer was so impressed with our collectors performance, that they are becoming a client of ours themselves.
Key Success Criteria
A professional, collaborative and firm approach, was adopted by our collector.
Their experience in firm negotiation was the key to this very successful and speedy outcome.
Benefits
- Access to an established and relevant contact network.
- Collaborative working practices with incumbent credit control team.
- Improved cashflow.
- No reputational risk.
- Regular reporting.
About Us
- CCICM is a multi-award winning company.
- Over 35 years’ experience in managing credit control.
- We work for Governments, Banks, Accountants, Asset Based Lenders, Turnaround Professionals, Private Equity Firms, Multinationals, and SMEs.
- Headquartered in the UK with 90 partner offices worldwide.
- FCA authorised and regulated ISO27001 & 9001
Our Pricing Model
- We operate on a contingency fee basis – ‘no win – no fee’.
- We do purchase debt portfolios and will consider each opportunity on a case by case basis.
