Making use of our expertise – Inside Time
Such is the nature of bad debts, the longer they go without being paid the less likely it is that a full recovery can be secured.
This, of course, comes at a cost to businesses who more often than not cannot afford to take such a financial hit, but what many owners fail to realise is the cost to their business of chasing these debts beyond a certain point.
Rather than investing further time and resource into this process, John Roberts, Operations Director of Inside Time, secured an arrangement with Hilton-Baird Collection Services to remove this burden whilst dramatically improving the likelihood of a successful recovery.
Inside Time is the national newspaper for prisoners, in which a high proportion of advertising space is secured by solicitors. However, Mr Roberts has had long-standing difficulties with regard to getting these clients to pay their invoices on time, with many often disputing the sums owed and the debt collection process proving tricky, due to the fact they’re having to take solicitors on at their own game.
That’s where our specialist collections team comes in. Due to our debt collection expertise and understanding of the legal processes involved, Inside Time instructs Hilton-Baird to take over the recovery of any debt that exceeds the 90-day mark in order to boost success rates and lift the weight from their shoulders.
With the assistance of Inside Time’s watertight Terms & Conditions and proofs of debt, our influence and flexible collections techniques often results in their customers paying up well in advance of legal proceedings being entered, although we have achieved an excellent success rate when these debts have had to be taken to court.
And due to our success-only collections policy, Inside Time only pay in relation to what we collect, providing a win-win solution that has encouraged Mr Roberts to utilise our expertise for more than 12 months.
“I’ve always been impressed with the way Hilton-Baird goes about its business, giving each debt their full attention and being so informative when explaining how their efforts are going,” he explains.
“Always approachable, it’s a resource I value highly and I look forward to maintaining our excellent relationship going forward.”