When a client in the business advisory industry faced two long-overdue debts that had been disputed by the debtor and were written off by another Debt Recovery Agency as unrecoverable, they turned to Slater Byrne Recoveries for a different approach. With a firm and ethical – yet strategic debt recovery process, the team at Slater Byrne Recoveries recovered the debts from both debtors in full. This proves that even disputed or “unrecoverable” debts can be resolved with the right approach.
The CEO from our client’s business iterated that they had several debtor accounts that were declared disputed and subsequently written off by a previous debt collection agency.
Dissatisfied with the lack of progress and the outcome, they decided to transfer their debt recovery accounts to us, to seek more proactive approach and hopefully attain better results.
Our Unique Strategy and Approach in Debt Recovery
Our team implemented a structured debt recovery strategy, intended to prompt swift action from the debtors.
Our team took the following steps to secure a successful outcome:
Review and Assessment
The account manager thoroughly reviewed the outstanding debts and studied the previous dispute claims and communication history with the debtors. From our assessment, it was determined that the disputes being raised were not fatal to our clients claims for payment – and that with the right communication, and dispute resolution, payment should still be made by the debtors.
Multi-Channel Communication to the debtor to Evoke Engagement
Most clients tell us that Debtors have simply stopped responding or communicating. So here at Slater Byrne Recoveries, we send consistent emails and SMS reminders to the debtors, notifying them that we have been engaged and reminding them of the overdue status of their accounts. These attempts are followed with regular phone calls and direct SMS messaging to ensure they cannot ignore us.
Formal Demand & Legal Leverage
By issuing clear and formal demand letters with deadlines and outlining clear consequences we have a clear path of action and time frame for a result. We also clearly outline the potential for legal proceedings if payments not made.
Dispute Management
Since the accounts were in dispute, and one of the debtors cited overcharging and lack of authorisation, Slater Byrne Recoveries requested clear documentation of their claims. We informed them that any unresolved disputes could be escalated to court. Once this was received, it allowed us to liaise with our client to obtain responses to their dispute claims, thus being able to resolve the matter without the need for further escalation.
In the end, the debtors both made payments for the amounts owed.
Key Takeaways
It is important to remember not to give up on a recovery simply because there is a dispute raised. Disputed debts are still able to be resolved with the right communication and debt recovery strategy. Your debtor may cease communication with you, but once we are engaged it is very common for the debtor to be willing to settle through a third party who is removed from the original situation.
Our client commented “David Luciani’s work, like a Pitbull, stayed on top of things. These debts we thought unrecoverable are now fully paid,” said our client after all debts have been recovered.
If you are facing similar challenges, or have any scenarios you’d like to discuss please reach out. Slater Byrne Recoveries can help you successfully recover what’s rightfully yours. Contact us today to know more about us and have a free consultation for your business!