Recovery of contractual debt
Hilton-Baird’s experienced team has successfully recovered its client’s lending, despite the debt being highly contractual in nature.
The client, an asset-based finance lender, instructed Hilton-Baird at very short notice to recover the sales ledger of a dairy supplier after the business entered administration, requiring urgent action.
The debt was highly contractual in nature and the loss of supply proved a significant challenge in obtaining payment from debtors. However, the Hilton-Baird team’s prior knowledge of the business, gained though a previous receivables assignment with their Finance Director, enabled them to develop a robust collections strategy.
Experience and perseverance
Hilton-Baird’s experienced team is well practised at investigating and breaking down disputes relating to contractual debt to assist in overcoming potential excuses for non-payment. They worked closely with the insolvency practitioner to access the paperwork required to address any disputes across the ledger, in excess of 500 debtors, to maximise collections. This tenacity and expertise resulted in over 100% of funds in used being recovered.
The Client Manager commented “Just to put this account into perspective, we were expecting a loss pre-administration. Thanks to the amazing work of Hilton-Baird we have managed to recover our core exposure as well as reduce the overall group lending.”
Hilton-Baird’s team provides a range of expert debt collection services to asset based lenders and their clients, from full sales ledger recovery to outsourced credit control. For more information about how we can help, call 023 8070 7392 or request a call back.
