Our client had used a large traditional law firm to manage their legal action requirements for debt recovery for many years. They had become disillusioned with the entire process which was considered to be very slow, very expensive, and poorly informed, and as a result had avoided using legal action in their credit control process. This resulted in more accounts unnecessarily written off, and created a perception among their customers that any threat of further action was unlikely to be delivered.
Credit Style set out to challenge our client’s experience, holding a workshop to process-map their existing collection strategies and to create a checklist of requirements for each case when considering legal action in the future. We helped to rewrite some of our client’s collection letters in advance of any further action being issued, ensuring that all Court protocols had been adhered to.
Following this activity, Credit Style created a solution consisting of a solicitor’s letter before action, outbound telephone collection from our legal collections team, pre-legal account review process and a low-cost fixed-fee legal service operating on a risk and reward basis.
We delivered this solution which immediately strengthened our client's credit reputation amongst their customer base, which in itself supports prompt payment. Most importantly, the net return we have been able to deliver for our clients has been increased tenfold compared to the previous arrangements.
