Extinguishing bad debt – Kraft & Bauer UK
Bad debt is, unfortunately, increasingly prevalent at present and the knock-on effects can be devastating.
Utilising the specialist services of an outsourced debt collection agency can vastly improve the chances of recovering monies owed, however it is vital to ensure you work with an experienced and knowledgeable team to ensure the right result.
Leading manufacturer and supplier of fire protection extinguishing systems, Kraft & Bauer UK, had been the victim of a few bad debts previously which had not been recovered, despite engaging various debt recovery agencies to assist. Mr Boraston was, therefore, somewhat reluctant to call upon the services of a collections agency when it looked like one of his customers was not going to pay.
The customer in question was disputing the balance in full, stating the goods provided were faulty, in an attempt to avoid payment. Mr Boraston decided to get in touch with Hilton-Baird Collection Services who subsequently contacted the customer and requested full details and evidence to support the claim of faulty goods.
Hilton-Baird’s team has considerable experience in the debt collection field and are all too aware of the raft of excuses given by customers for non-payment of invoices. However, through firm negotiations and a no-nonsense approach, the customer settled the invoice in full plus late payment charges.
Mr Boraston explains: “I am delighted with the outcome. Having worked with debt collection agencies previously, I was not keen to go down this route but I am really pleased I did.
“Hilton-Baird’s team is the best I’ve dealt with in twenty years and I’d recommend their services to any business struggling to collect in a tricky debt.”
For more information on Kraft & Bauer, visit www.kraftandbauer.co.uk.