{"id":3761,"date":"2019-12-20T12:25:24","date_gmt":"2019-12-20T12:25:24","guid":{"rendered":"https:\/\/staging.amj-uk.com\/cli_2019\/?p=3761"},"modified":"2019-12-20T14:59:54","modified_gmt":"2019-12-20T14:59:54","slug":"debt-collection-and-late-payment-sanctions","status":"publish","type":"post","link":"https:\/\/staging.amj-uk.com\/cli_2019\/debt-collection-and-late-payment-sanctions\/","title":{"rendered":"Debt Collection and Late Payment Sanctions"},"content":{"rendered":"

[et_pb_section fb_built=”1″ specialty=”on” module_class_1=”et_pb_column_2_3″ module_class_2=”et-last-child et_pb_column_1_3″ custom_css_main_1=”\/*width: 64.833% !important;*\/” custom_css_main_2=”\/*width: 29.666% !important;*\/||min-width: 29.666% !important;” _builder_version=”3.22″ custom_padding=”0px|0px|27px|0px”][et_pb_column type=”3_4″ specialty_columns=”3″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_row_inner admin_label=”Row” _builder_version=”3.25″ custom_padding=”35px|0px|29.6875px|0px” custom_css_main_element=”padding-right: 0 !important;||padding-bottom: 0 !important;”][et_pb_column_inner saved_specialty_column_type=”3_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_post_title meta=”off” featured_image=”off” text_color=”light” _builder_version=”3.0.89″ title_font=”|700|||||||” title_font_size=”19px” background_color=”#2a4984″ custom_css_post_title=”padding-bottom:0px !important; || ” border_width_all=”10px” border_color_all=”#2a4984″][\/et_pb_post_title][et_pb_divider show_divider=”off” _builder_version=”4.0.7″][\/et_pb_divider][et_pb_text _builder_version=”4.0.9″ text_text_color=”#2a4984″ module_alignment=”left” hover_enabled=”0″]<\/p>\n

<\/h2>\n

Debt Collection<\/a> and late payment – Our latest Case Study when Late Payment Sanctions\u00a0 fully compensate the creditor.<\/h2>\n

<\/h2>\n

 <\/p>\n

Context – Debt Involved for International Debt Collection<\/a> Services<\/span><\/h3>\n

On 1st<\/sup> September 2019 we received a debt collection enquiry from a well-known higher educational institute. They were owed EUR 9,000 from a company based in London for an invoice dated 31st<\/sup> December 2017 and payable on 30th<\/sup> January 2018.<\/p>\n

We received very good backup paperwork from the client with a clear audit trail, we were able to work out how the parties first entered into contact and come to an agreement which finally saw a contact get signed. We had the purchase order, invoice and proof that the work was completed to the full satisfaction of the corporate customer of our client.<\/p>\n

 <\/p>\n

Our Solution – Efficient and Professional International Debt Collection Process<\/h3>\n

The case was uploaded on that same day into our debt collection system and debt recovery action began immediately.<\/p>\n

6 days later, on 10\/09\/2019 our client received payment of the principal sum owed (EUR 9,000).<\/p>\n

Whilst our client and indeed us were ecstatic that the monies were paid by the debtor company so quickly, we were less than impressed that costs, interest and compensation that had been added to the debt in accordance with \u201cThe Late Payment of Commercial Debts Regulations 2013\u201c had been left outstanding.<\/p>\n

We continued our action and pursue for the payment of all these statutory late payment sanctions which any late paying company is now obliged to pay by Law across the EU. Our convincing arguments led the debtor to pay the full \u00a32,487.27 being \u00a31044.39 in late payment interest, \u00a370 in late payment compensation, collection costs of \u00a31144.07 and VAT on collection costs of \u00a3228.81. The entire matter was resolved on 01\/10\/2019.<\/p>\n

 <\/p>\n

Outcome – Full Debt Recovery using CLI Expert Debt Collection Services<\/h3>\n

Full recovery meant that our client had the benefit of using our expert debt collection services for no charge whatsoever. In fact, we added value to his debt. Next time, he may not wait for 1 year and 8 months past the due date of his invoice before he instructs us, and rich of this experience, his customer might start paying his suppliers on time.<\/p>\n

But beware: it could all have been very different\u2026 As we keep telling our clients, debts are not like a good wine: they do not get better with age and it is good practice to chase them promptly and to escalate your debt recovery action if you want to avoid bad debts.<\/p>\n

 <\/p>\n

\u00a0CLI specialises in\u00a0debt collection<\/a>\u00a0and\u00a0international debt collection<\/a>\u00a0whilst maintaining customer relationships, has 10 years of successful training and are the sole UK member of the\u00a0TCM Group<\/a>.<\/p>\n

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Debt Collection and late payment – Our latest Case Study when Late Payment Sanctions\u00a0 fully compensate the creditor.   Context – Debt Involved for International Debt Collection Services On 1st September 2019 we received a debt collection enquiry from a well-known higher educational institute. 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