As a large Commercial Collector, Controlaccount processes many thousands of accounts and past due invoices each year without recourse to Legal Recovery, with the vast majority of these (85%) settling during the letter telephone collection phase. However there will always be accounts that need the focus and structure that the Legal Debt Recovery process adds to any action, this may be because account holders have become in-trenched in their own position refusing to pay or they simply don't believe that you will follow through on any threat of Court Action. Whatever the reason for continued non-payment simply instructing legal action may be throwing "Good Money after Bad" since little may be known about the account holders circumstances and ability to pay.
Given the volume of accounts we handle each year Controlaccount knows very well that Legal Recovery can be an effective tool in the collector’s toolkit but used indiscriminately costs can soon spiral out of control with the level of work involved on the client’s part being disproportionate to eventual return (effort -v- reward). Our Debt Assessment Process (DAP) for Legal Debt Recovery developed by Controlaccount is a way of "Improving the Odds" with a focused debt collection strategy based on intelligence and indentifying those accounts and account holders with the highest payment potential. Our advanced scoring and decision making tools together with other profiling aids gained during the earlier collection phase provide complete account intelligence offering the opportunity "To Improve the Outcome".
At Controlaccount we understand these concerns, Litigation is expensive and whilst securing Judgement can be relatively simple, stages beyond this can add further expense and require a level of decision making which without intelligence can be difficult to undertake, allowing cases to drift and extinguish with no proper outcome. Our Debt Assessment Process removes the obstacles, de-risking the process and ensures that the work is supported throughout the life cycle of Legal Recovery from start to finish.
Controlaccount's highly trained Litigation Team have extensive experience in all aspects of legal recovery from issuing proceedings right through to enforcement. Our Team know exactly the course of action to take to resolve your outstanding account problems. All aspects of our legal service are conducted professionally, courteously and in accordance with all current legislation.
Improving the Odds when customers fail to pay despite persistent letter and telephone negotiation, litigation can be an effective tool in the recovery process. Starting with a Letter-Before-Claim, we examine the customer's circumstances and ability to pay before recommending any course of action, ensuring that there are no unresolved disputes or queries and "Improving the Odds" if Legal Action is the preferred next stage. With no impediment to make payment or doubtful circumstances, we will commence legal proceedings to recover debt ensuring full conduct of all matters and removing this responsibility from you whilst keeping you fully up to date.
Our innovative Legal Recovery Service is a focused strategy to improve recovery, help reduce costs save time and maximise resources which has been designed to operate as a stand-alone service or integrate with other CA collection modules. The process begins with a (DAP) assessment ensuring that we only take cases forward with the highest payment potential, with a Letter-Before-Claim (LBC) advising your customers that we are instructed to issue proceedings and giving them a further opportunity to clear the balance at no additional cost. This stage in the recovery cycle focuses attention and produces good levels of success without the need to put our clients on risk of cost, if payment is not forthcoming the claim is issued and the customer has a further period of time to respond or pay, before an Application for Entering a Judgement will be made. Prior to entering Judgement our innovative recovery procedures ensure that we continue to advise account holders of the consequences of registering a CCJ and giving a further opportunity to pay to prevent such action. Once the Judgement is received by the account holder, Enforcement proceedings will begin using the most appropriate service dependant on the debt balance and the account holder's circumstances
Controlaccount Plc handles the whole litigation process on your behalf using our experienced in-house team, we act in our clients best interests adhering to the highest professional standards, wholly compliant and operating within industry parameters. Our application of modern technology coupled with our expertise enables us to provide innovative effective litigation strategies that are tailored to our clients needs, ensuring that accounts are treated individually and your reputation is never at risk.
Controlaccount has a proven track record of providing low cost and low risk litigation solutions. To discuss your enquiry and please email clientservices@controlac count.com for more information
Days Sales Outstanding or DSO is a calculation used by a company to estimate their average collection period and measures how well a business accounts receivables are being managed and how efficient credit control departments are performing. The lower the days or ratio, the better it is for your business. If your business has a high days sales ratio, you may struggle to convert sales into cash flow. Try our calculator to find out how many days you are financing your customers.
From experience, we understand "Best Practice" for DSO within UK industry sectors.
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