We all like to get our money from debtors and into our pocket where it belongs.  Sometimes we just need to persevere with the right techniques.

We were asked by three clients to recover debts totalling almost $100,000 which in the main had been outstanding for a considerable time and had resisted all their attempts at recovery.

In the first situation our client was anxious to recover the debt as quickly as possible and was hoping that we could “work our usual magic”.

Although it was necessary to issue court proceedings, the full debt was recovered at no cost to our client.  The client was delighted with the result commenting “you’re just marvelous”.

The second client had almost given up hope of seeing their money.

However with determination and perseverance we were able to obtain an acknowledgement of debt together with an agreement that our client would be paid from the sale proceeds of the debtor’s property.  As we still did not believe this was enough we insisted that the debtor’s solicitor provide us with an undertaking to pay us on settlement.  Again when we telephoned our client’s credit controller to inform her of the great news she said, “How do you do it…?”

The third client was owed money by a debtor who is known to us. He frequently appears in the Mercantile Gazette and we advised our client that it was unlikely that he would respond to a letter of demand.

Needless to say the debtor did not respond and court proceedings were initiated.

We were constantly contacting the debtor and with only a few days to go before the hearing we were contacted by the debtor’s solicitor who informed us that the amount owing together with legal costs would be paid prior to the hearing.

Given the debtor’s credit history we cautioned our client that it was unlikely that we would receive the money. However the following day we received the full amount.  We called our client to inform him of the tremendous result, and he said ”I am impressed with your efforts in recovering this money, I honestly did not think that I would see it”.

It is very important to act quickly when recovering debts.  The longer they are left the harder it is to recover them, but do not give up too early. Even ones that you feel are past ever being paid can be recovered if the right techniques are used.  Very few are totally irrecoverable.