ACS provides tailored debt collection and recovery services for businesses of all sizes and helped a small-medium sized business to reduce its bad debt provision by collecting a commercial debt with interest. The debt was collected at no cost to the business.
The problem
Phoenix Amenity Supplies Ltd, a family run business supplying seed, landscaping products, and hydro-seeding consumables nationwide had been unable to collect a debt from a commercial customer. Over a period of months Phoenix Amenity had made regular requests for payment.
The debt was not significant and after extensive efforts to recover the debt Phoenix Amenity had decided to take a hit to its P&L and write-off the debt. It had rejected the idea of passing the debt to a DCA as it believed that the cost would be prohibitive in relation to the amount of debt.
No risk solution
However, a business contact recommended Advanced Collection Systems’ (ACS) debt collection service as an alternative to writing off the debt. ACS is a DCA with a client list that ranges from small owner managed businesses to large utility companies. Most importantly ACS provides debt collection on a No-win No-Fee basis.
The No-win No-fee service meant that Phoenix Amenity could at no risk to its business make one last effort to collect the debt before writing it off.
Stronger P&L
Within one week of receiving the details of the debt ACS had collected the full amount of the debt with interest added and its fees paid by the debtor.
Rather than write the debt off Phoenix Amenity was able to collect the debt and the interest owed under its terms and conditions - all at no expense to its P&L. Lorna Baker from Phoenix Amenity commented.
“During my time with using different debt collection agencies, I must say, yours is one of the very, very best.”
The key to successful recovery
ACS attributes this success to its deep understanding and skills in credit control and
its regulated and accredited status that puts best practice at the core of its debt collection and recovery service.
It was able to bypass the gate keepers and gain access to the key decision makers in the debtor company. This, and a team of collection agents skilled in negotiating the amicably collection of debt, was the key to collecting the debt.
