Whenever a debt recovery firm enters liquidation there are bound to be problems, particularly if debtors have made payments to the firm that have not yet been passed on to creditors.
As a result, there can be reasonable discrepancies between the amount people believe they owe, and the amount creditors believe they are still owed, not to mention disruption of payment plans, scheduled instalments and calculation of statutory interest on the remaining debt.
Resolving these kinds of disputes can be very difficult and, even if the creditor calls in another debt recovery agent, it can set the case back to square one.
In the recent recession there have been a few debt collection agencies (DCAs) that have gone into the red and failed to get back out again – proving that even in an industry based around debt, nobody is safe during hard times.
Creditors and debtors who were dealing with these firms are then left without the intermediary to ensure the money they are owed – or the money they owe to another – is paid in full.
As with any debt recovery firm going into liquidation, these situations are invariably a mess – and highlight the value of doing your research before choosing a debt collection agency.
In the case of CPA, we were incorporated on January 20th 1993, and have recently celebrated our 22nd anniversary.
We make sure any re-locations are well publicised – such as our move to Loughborough Road in Leicester – so you know we’ve got nothing to hide.
And we are always happy to help anyone let down by other debt collection agencies, so if you have been affected by the liquidation of a DCA, or by your DCA failing to deliver what you need for any reason, please get in touch.