Collection of Old debts

Collection of Old debts

Posted by Heather Jackson, on February 26, 2020. Tags: ,

Acting for a television advertising company collecting outstanding debts whilst they were winding down the business which resulted in collections of 87% of the ledger passed across.

We were approached by the temporary credit manager of the business who we had previously carried out work for to assist him in pre and post legal collections for them. It was clear from the beginning that the debts were in some instances a couple of years old and had not been chased for a long time if at all. Also in addition to company’s in England & Wales there were debts in Scotland, Northern Ireland and Eire.

The debts ranged from a few hundred pounds to in excess of £35,000. After sending out the initial letters we made telephone calls to all of the debtors who had no intention of paying as they knew that the client was winding down the business and believed they could get away without paying. They made every excuse not to pay including spurious disputes which we were able to counter and continual requests for paperwork which we had in our possession.

Due to perseverance on the telephone we only had to issue proceedings on 6% of the matters and recovered in each instance. 

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