At least one fifth of UK corporate insolvencies in the past year were caused by late payment or the insolvency of another company, according to new research by insolvency and restructuring trade body R3. A survey of the insolvency profession reveals that late payment for goods or services was a primary or major cause of 23% [...]
Insolvency Practitioners and debt collection. Resource and experience are available to undertake a range of investigations. Sterling work with Insolvency Practitioners to value sales ledgers and to cost effectively collect book debts quickly and efficiently. Sterling Debt Recovery provides a proven service to Insolvency Practitioners working with Receivership - Liquidation - Administration - Company Voluntary Arrangement [...]
Settlement increased from 50% to 85% of invoice value. Whilst we’d love to write about all our 100%+ win success stories, some of the others can still offer you great insight into dispute resolution. This particular client, a specialist recruitment firm working nationwide, asked for our assistance when they were faced with a debtor who had [...]
Leading Computer Software Developer – UK Our client, a supplier of computer software systems provided solutions to a prestigious retailer in London who delayed payment time and again. After making one too many promises to pay the overdue invoice was escalated to be dealt with by our debt recovery team. There was no agreement in place [...]
Interesting collection history from one of the recent successful debts collected by Sterling. One of our long term clients, a top UK accountancy firm, passed us a debt where one of their long term clients (using their services for the past 20+ years) began persistently paying late. The debtor had been asked on numerous occasions by the [...]
Sterling assisted a financial services company to recover unpaid instalments of loans granted to individuals under a trust. After the claim form was served, all 5 individuals contacted Sterling voluntarily to pay the full amount of the loan instalments plus legal costs and court fees. Furthermore, they agreed to make arrangements to repay the entire loans [...]
If you are offered a discount for early payment, don't expect the discount when you pay late! One of our regular recruitment sector clients contacted us with a debt when their client had been given special terms (a discount) under one simple condition, pay on time. Shockingly, despite the handsome discount fee given for the placement, [...]
Our client who operates in the environmental and industrial waste sector had completed a job where they were instructed to remove waste from a building site comprising of heavy mixed waste. The waste was collected and removed, being signed off by the site manager. The MD of the construction company later refused to pay for the [...]
Recruitment Sector Debt - Collected! This recruitment sector debt collection success began when our client contacted us having suffered two of their staff being ‘poached’ by a competitor agency. The two staff were at that time contracted out to a hiring company by our client. The competitor continued supplying them to the hiring company. The hiring company [...]
Sterling provides debt collection service to several UK Top 100 Accountancy firms. Recent success story from the accountancy sector: We received the debt this month from our client, one of the Top 100 accountancy firms in the UK, invoice value circa £10k, dating back to the end of 2014. We traced the most relevant person to [...]