Debt Recovery Case Study: A seamless extension to the internal team

With a dedicated credit control team in place, our client needed its debt recovery advisors to be a seamless extension to the internal team. Michelmores developed a tailored information portal to ensure a cost effective and efficient debt collection service.

The Challenge

Our client has a strong national presence as an information provider and therefore works with a very large number of customers. The group has a dedicated credit control team, but was looking for a cost effective debt recovery service that could deal with bulk monthly instructions and manage debts aged beyond 3 months.

The Process

Working on a no win, no fee basis we now provide a seamless link with the existing credit control team. Instructions are received in bulk format electronically and 'letters before action' sent out on the same day.

We have developed a portal allowing for the efficient exchange of information, reducing the credit control team's workload and increasing overall efficiency. Through a targeted programme of pre-litigation collections we achieve a high success rate. Where payment is not received in full, we are skilled at negotiating payment proposals: very few cases progress to the issue of a claim.

The Results

By developing a clear understanding of our client's business and debtor types we have tailored our approach to meet their specific needs. Year on year we have worked with our client to improve credit management and continued to build on results achieved. With over 80% of all aged debt referred to us being recovered at the pre-litigation stage last year, results are looking even stronger for the current 12 month period.

"Michelmores' debt recovery team provides a trusted, proactive and results-driven service that has proven to be an excellent addition to our in house credit control team"

How can Michelmores help you?

Read further information about our debt recovery services or contact us on 01392 688688 or by using our debt recovery enquiry form.

We have also put together a useful video guide, which is available to view: How to Avoid Bad Debt: Tips for Businesses for Successful Debt Recovery.