Last time we featured a client, The SLR Group, who used our debt collection team to recover a significant 5-figure sum within 3 weeks of instructing us.
More clients have benefitted from the service. Tru Trading Company Limited, specialise in the retail of Men’s clothing and have leading brands such as Crosshatch, Coldcut and Smith & Jones from their base on Bury New Road, Manchester. Again they were owed a five-figure sum by one of their customers.
Their internal accounts team weren’t having any luck getting the debt paid despite chasing and they were concerned that this customer (a limited company) was going to shut down soon, which would mean they wouldn’t get paid at all. The debt was undisputed and we advised them to serve a draft winding up petition threatening winding up proceedings, which we did and resulted in the debt being paid in full seven days later. (Which was cheaper for the client but just as effective).
Steven Hardman, Commercial Director at Tru Trading Comments “We were becoming concerned about receiving this payment and spoke to Leigh at Glaisyers who advised us of the options available and the probable costs involved. We decided to pursue the winding up petition route and it resulted in a prompt payment of the debt.”
Another textile industry client, this time a women’s wholesaler, also benefitted from the skills of the Debt Collection team. A Judgement was obtained before Xmas 2013 for just under £8,000 and a bailiff was sent in to the debtor’s business premises at the beginning of January 2014. As well as the debt the debtor was also required to pay a costs order (which was a separate set of costs) for just over £8,000.
The bailiff made a full recovery of the judgment debt on his first visit at the beginning of January and the debtor voluntarily paid the costs in February within a week of being served with the statement of costs
So in effect we made a full recovery for the judgment in January and then another full recovery for the costs order in February. The reason the debtor paid so quickly in February was because he knew the bailiff would be sent back in if they didn’t pay which was a comment they actually made. The file is now concluded.
Send us your Aged Debts (60 days or more)
To instruct our team is easy. Find your worst aged debts and contact Leigh Sunter on 0161 832 4666 and she and the team will advise the best options to recover the debt, including details of any costs.