Case Study

When it comes to debt recovery - it's good to talk!

5th July 2019

When it comes to debt recovery - it's good to talk!

It’s good to talk.

How opening a dialogue can be the first step to successful debt recovery.

Organisations faced with situations where debt may not be recoverable, often feel the matter is not worth pursuing due to the level of costs that may be incurred. However using a ‘no collection, no charge’ fee structure can offer a possible solution.

“Our Client (Company A) was owed money by an individual (Mr Y) for a series of unpaid invoices,” comments Arshad Mohammad, Manager of Higgs Debt Recovery Services team.

“They instructed us using our pre-action debt recovery strategy, despite believing they had no hope in recovering the debt. However they felt they had nothing to lose by putting the matter through our ‘no collection, no charge’ fee structure.”

Acting with colleagues from Higgs’ Dispute Resolution service, Arshad initially sent a letter before action highlighting the urgency of the matter. As a result he was contacted by Mr Y and his family members who stated they felt the debt was in dispute. As the team investigated further however it was clear that there was a misunderstanding which both parties had not previously discussed.

Arshad continues:

“Based on the results of our investigations, we began negotiations with Mr Y to show how the debt was duly owed.

“As a result of our work and the evidence we provided him, Mr Y paid in full, a situation our client was not expecting at the outset of the matter.”

Higgs & Sons’ fixed fee services are part of a range of options available to clients depending on the nature and value of the claim in question. Contact a member of Higgs’ Dispute Resolution or Debt Recovery team to find out more.

 

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