incline9edge

10 day recovery of £15,500 for a container hire company

Posted in March 2015

Holder Hire is head quartered in Essex with depots in Felixstowe and Bristol. They specialise in the sale, lease and hire of shipping containers and container road trailers.

The equipment on hire challenge

A National haulage contractor had been regularly hiring containers and trailers from Holder’s Tilbury and Felixstowe depots for 18 months. During this time invoice payments were always later than terms, but the company had a good credit rating and was not deemed to be high risk. As time went on the length of time between payments steadily increased from 35 days to over 70 days and the customer exceeded their credit limit. Requests for payment were ignored forcing Holder to suspend supply and request the immediate return of equipment on hire.

The process of debt collection

We issued the debtor company with a demand letter on the afternoon we received the instruction and copy invoices from Holder. The demand requested full payment of the outstanding account of £15,484 plus late payment compensation and interest charges. Despite the demand clearly explaining the consequences of legal proceedings, payment was not made within 7 days as requested.

A final demand was issued allowing the debtor a further 7 days to make full settlement. The final demand explains to the debtor that if they do not pay, 14 day pre-action protocol will have been completed and proceedings can then be issued.

We made telephone contact with one of the directors of the debtor company 2 days after we issued the final demand. After forcing home the seriousness of the situation and the fact that legal action and its consequences were inevitable if urgent action was not taken, we received assurances that the account and late payment charges would be settled as soon as possible.

The director was true to his word and the following day full payment of the account and all charges was made by bank transfer.

Another fast result

This 10 day recovery is a good example of how the vast majority of cases are settled, quickly and in full. Usually a debtor will pay up when they are contacted by Advocate and realise they can no longer ignore payment. Over 60% of cases are paid in full within 7 days and a further 25% of cases are paid in full within 14 days.

 

Da Feefo

Checking...

Ouch! There was a server error.
Retry »

Sending message...

Quick Contact

Send us a message and we will get back to you within an hour.

Spam Prevention Question

1 + 8 =

Latest Recoveries

  • June 18, 2019

    Advocate’s free debt collection agency secures payment of £11,224.58 in 7 days from a West Midlands Local Authority on behalf of a Walsall based Care Staffing Agency.

  • June 17, 2019

    £9,288.34 recovered from a Luton based Road Haulage Company and paid to a Peterborough based Fork Lift Truck Company 6 days after we commence action.

  • June 13, 2019

    Our client a Taunton based Packaging Manufacturer received a free debt collection service following the recovery of £17,882.12 in 8 days from a Bath based Commercial Bakery.

  • June 12, 2019

    Advocate’s business debt recovery service results in £5,625.24 being recovered from a Swindon based Dating Website Operator and paid to a Bristol based Digital Marketing Company 6 days followining our instruction.

  • June 11, 2019

    Our no win no fee debt collection service results in a Hull based Catering Supplies Company receiving payment of £12,350.13 from a York based Hotel just 4 days after we received the instruction.

Latest News