Debt Recovery In The Construction Industry – Case Study
Age of invoice: 9 months old
Principal Sum: £90,000
Days to recover: 3 weeks
Construction industry debt recovery experts Darcey Quigley recently recovered £90,00 for a client. Read about our approach and how we can help you.
The construction industry write off a huge amount of commercial debts every year, know to be as high as £2 billion a year. This equates to UK construction firms writing off an average £10,000 every year!
The COVID-19 pandemic made matters even worse as it is thought to have added an extra £1.5 billion worth of debt written off in the construction industry alone.
But it doesn’t need to be this way.
Commercial Debt Recovery
Construction Industry Case Study
A recent client approached us with an outstanding invoice of £90,000 on a large construction job. This large sum of money was owed to our client over 7 months ago.
This is a huge amount of money for any business to simply write off but things were becoming desperate for our client. They had almost given up hope of collecting this overdue account but reached out to the DQ Team for one final try.
Following our commercial debt recovery process the case was actioned within just 1 hour of the details being sent to our team of debt recovery experts here at Darcey Quigley. Within just 7 days of receiving this large debt our team had been instructed that the debtor paid an initial £60,000 and the remaining balance to be paid 3 weeks later.
This is a huge success for both our client and ourselves here at Darcey Quigley!
Leaving your overdue accounts for too long greatly increases your risk of missing out on that cash for good. Our best advice if you have outstanding commercial debt is to take action immediately to give yourself the best chance of recovering what you are owed.
Don’t leave your overdue accounts to the last minute and run the risk of not getting paid!
Get in touch with one of our specialists today on 01698 821 468 or email [email protected]