Crypto Casino Debt Recovered in USA
Days Overdue: 60
Amount Due: $136,000
Agreed Settlement: 3 weeks
When a client reaches out to us with an international debtor, we understand that there are complexities that come with retrieving unpaid invoices on a global scale.
Last month, a new client based in the Norwich contacted us with an overdue account from an online Crypto casino in the USA. After a detailed fact find with our credit management specialist, it was discovered that the debt in question was heavily disputed. Our client had produced content and marketing advice for the debtor, but they had become completely unresponsive, so it was at this point our client came to us for help.
When dealing with an unresponsive debtor, often, the power of outsourcing can be the push a debtor needs to respond. It is, however, common for businesses to be concerned about damaging the relationship with their customer by outsourcing to a third-party debt collector. This is why we make it a priority to protect brand identity and function as an extension of your credit control team and this is exactly what we did with this case.
As part of our new process, our client uploaded their overdue invoices and statement to our online case management system, Collect-it. By using the system, clients can view the status of their case and if any updates they are automatically notified. A dedicated commercial recovery specialist then actioned the debt within 1 hour of instruction, where a formal pre litigation “Notice of Intent” was issued to the debtor via email, letter and WhatsApp.
Our strength comes from our unique telephone recovery strategy where we contact as often as required until contact is made with the debtor, with this case being in the USA our team made calls around the clock.
Within 10 days our team was able to make contact with the CEO and CFO of the parent company of the debtor who were based in New York City. We opened negotiations on behalf of our client. Very quickly arranging a Zoom meeting where our team acted as a mediator for negotiations. After this call, the negotiations continued over email and after 3 weeks the debtor company came to an agreement to pay $44,000 upfront and a new contract was put in place for the remaining balance and future business.
Through our persistence and global recovery expertise we came to an agreement which our client was delighted with. They were extremely pleased as the debt was not only resolved but also the relationship between the two businesses was saved which means they can continue trading together moving forward.
If you have outstanding invoices please don’t hesitate to get in touch with our friendly team of commercial debt experts today on 01698 821 468 or schedule a call for a time that suits you.
Lynne is the Founder and CEO of Darcey Quigley & Co.
She is passionate and determined to help businesses get overdue invoices paid quickly.
Having worked within the credit management industry for over 27 years and ran UK leading commercial debt recovery specialists Darcey Quigley & Co for over 16 years, Lynne has helped businesses recover commercial debts from every continent across the globe.
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