AYOM recently managed to secure over £50,000 for a European company whose debtor was based here in the UK. AYOM works on a number of cases each day for debtors in and outside of the UK. Likewise our customers come to us from around the world. In this case the supplier was an EU company who had supplied goods and services to the debtor. The debtor refused to pay their invoices and tried to avoid payment.
The legal debt collection process
The debtor withheld over £60,000. They claimed there was a counter claim superseding the amount being chased. AYOM’s legal team became involved because of the size of the debt. The legal team soon discovered the alleged counter claim was for a completely separate matter. The separate matter was refuted in any case.
The debtor was advised that they would have to issue a completely separate claim if they wished to pursue theirs. The debtor was also informed they could not withhold our client’s money. Doing so would put them in danger of facing hefty costs in court.
Advice from our legal team on the debt collection process is essential. They have the knowledge to refute disputes like this. They also know what outcomes are likely for both debtor and client. Their knowledge informs our debt collectors and assists our strategies.
After assistance from legal, the collectors moved fast. Speaking to the debtor, they realised they could not keep disputing. After explaining our position, the debtor agreed to talk about resolving the debt. The debtor has now paid the client over £50,000 and the remaining costs are being negotiated at the moment.
Often debtors attempt to create counter claims and disputes. In many cases, this is prolonging the situation. It gives the debtor time to accrue more capital to pay, or avoid the debt entirely. Many debt collection companies do not have a dedicated legal service. Having our qualified legal team however ensures we avoid situations like this. We ensure a fast debt collection process with a positive outcome.
Ed Fisher of the legal team spoke to us about their input on collections. “Our job is to make the process as quick as possible. Often debtors will attempt to push back a need to pay. The legal route is a favoured tactic. We have the ability to look over a case thoroughly and refute claims or answer them. Even in a worst case scenario we are able to prepare clients should court be needed.”
We term the collection process “pre-legal”. By this we mean we attempt to avoid taking a matter to court. Court cases require extra funding by clients and often need them to represent themselves. Our legal team are on hand for our collectors to ensure we are meticulous with each case. Because of this, we offer a very positive collection rate.
If you are a creditor looking for debt collection, give the experts a call. Our legal team are on hand to assist our collectors resolve your case. For more information you can call 0800 130 3357 or email firstname.lastname@example.org. If you want an expert collections team backed up by seasoned, qualified legal staff, get in touch.