Top Service News
Case Study: Successful Debt Recovery & Credit Monitoring Support
Published on
Background
Stuart, a director of new Tech Roofing Limited, reached out for support regarding an outstanding debt totaling £120,309.00, with the oldest invoice date being November 2024 and was 79 days overdue, when passed to Top Service.
He had been introduced to our services by another satisfied member and was frustrated by the non-payment from his customer. Stuart asked how we could support him with collecting the money owed.
Our Approach
During our conversation, I explained that we’re more than just a debt recovery service but also provide:
Unlimited Credit Information – Allowing businesses to make informed decisions.
Unlimited Company & Director Monitoring – Helping track financial stability and potential risks.
Chasing Support – Including three formal chasing letters and unlimited chasing emails to help recover overdue payments.
Stuart was particularly impressed with the insights our credit information, shared trading experience data and monitoring service had to offer and was made aware of information he didn’t know about the company, prior to the call.
Critical Development: Petition Alert
During the evaluation I identified that a winding up petition has been presented against the debtor company, which meant we needed to really think about the strategy. Information from our members was leading us to believe that the petition was due to be withdrawn (paid and not taken to the hearing date) which I advised Stuart of.
Additionally, I explained his options:
- He could support the petition but with no guarantee of receiving payment.
- The company might settle the petition and continue trading.
Resolution & Debt Recovery Success
Just a couple of days later, while Stuart was considering his options, we contacted him with an urgent update: the petition had been withdrawn that day. This meant our approach needed to shift.
Because of the high amount owed, we had been monitoring the petition closely, ensuring Stuart received an immediate update when its status changed.
Following our updated recommendations, Stuart instructed us to proceed with active debt collection. The case was swiftly passed to our collections team, and chasing began immediately.
Additionally, I confirmed that Statutory Interest and Late Payment Compensation could—and, in our opinion, should—be applied. This added over £9,000 to the balance.
The Result? Full Recovery in Just 11 Days!
Total amount recovered: £130,000+
- £120,000 – Original invoice amount
- Remaining balance – Late Payment Interest & Compensation
Zero cost to Stuart – The collection fee was covered by the additional compensation and interest, meaning our service didn’t cost him a penny.
Immediate financial relief – Avoiding what could have been a significant financial loss for his business.
Outcome & Testimonial
Recognising the value of our service, Stuart formally instructed us to recover the debt. Given previous missed payment promises and failed repayment plans, he was confident that our expertise would secure the best possible outcome.
Testimonial from Stuart Belcher, New Tech Roofing Limited
“I can’t thank the team enough for their support. The information provided was invaluable, helping me navigate a high-risk situation with confidence. Their expertise in debt recovery meant I was able to recover outstanding funds quickly, avoiding what could have been a significant financial loss for my business. The service was professional, proactive, and incredibly effective. I highly recommend them to anyone looking to strengthen their credit control and debt recovery processes!”
Recover What’s Yours Without the Hassle
Struggling with overdue payments? Let us help you get back what you’re owed—professionally and efficiently. Contact Us Today