Case Study – Overseas Collection in Germany,
a Restricted Country
Client: Bibby Financial Services
Customer/debtor: German Footwear Supplier
House of Holland (In Administration)
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Our Case
We were referred an unpaid € 39,000 debt dated November 2019.
This referral was placed with CCICM in August 2020.
The customer was already in Administration, and we tasked with recovering as much of this outstanding amount as possible.
Approach
As Germany is a ‘restricted country’ CCICM passed the case to our German Agents, to take in-country action. Our Agent was able to navigate the regulatory processes and engage directly with all parties.
Challenges
One of the challenges was rationalising the documentation.
Purchase Orders and the corresponding Invoices had to be corrected and assigned before collection activity could commence. Having a clear picture of the case together with all the documentation was an imperative before engagement with the debtor.
Success
Due to a collaborative approach, the professionalism and tenacity of all concerned, payment in full was received February 2021.
Key Success Criteria
A professional, collaborative approach with our German partner and our expertise in overseas collection, and our history of working with and for Insolvency Practitioners, was key here.
CCICM’s and our partner’s experience in firm, but realistic negotiation was the key to this very successful and speedy outcome
Benefits
- Access to an established and relevant contact network.
- Collaborative working practices with incumbent credit control team.
- Improved cashflow.
- No reputational risk.
- Regular reporting.
About Us
- CCICM is a multi-award winning company.
- Over 35 years’ experience in managing credit control.
- We work for Governments, Banks, Accountants, Asset Based Lenders, Turnaround Professionals, Private Equity Firms, Multinationals, and SMEs.
- Headquartered in the UK with 90 partner offices worldwide.
- FCA authorised and regulated ISO27001 & 9001
Our Pricing Model
- We operate on a contingency fee basis – ‘no win – no fee’.
- We do purchase debt portfolios and will consider each opportunity on a case by case basis.
