One of our most recent success stories is with Rapid Metal Development (RMD), who got in touch with Slater Byrne Recoveries back in March 2016. RMD contacted Slater Byrne Recoveries with a backlog of debt across a number of years. They asked us to step in and begin to get in contact with the debtors they were having difficulty with extracting payment from.
RMD had air tight terms and conditions in place, meaning they would not be out of pocket for any matters referred to us. This included debt recovery clauses and personal guarantees, which had them covered for debt recovery/legal expenses. These also allowed them to chase up Directors of liquidated companies for their overdue funds. Obtaining personal guarantees are another way of protecting your business, especially when you consider recent unrest in the building and construction industry.
RMD began using Slater Byrne’s services in March 2016 and since then, we have recovered over $178,000 out of the $258,000 amount owed—almost 70% of their delinquent debts. The collection of $178,000 was directly attributed to SBR’s assistance. Some of these unpaid amounts were not collected due to several ongoing factors, such as files still being worked on, settlements being offered and accepted, genuine disputes on matters, companies no longer trading, and directors having no tangible assets to proceed after.
RMD advised us that our help has freed up their internal resources to concentrate on current company affairs and other finance-related matters, rather than going back over delinquent debts all the time.
Your company profits should not be affected due to your debtors not paying on time. Slater Byrne are here to assist.
Feel free to contact Liam White on 02 9191 4518 for a free consultation.
Rapid Metal Developments Australia, through its 15 branches in Australia 63 years’ experience, hires and sells innovative and tailored formwork, shoring, and scaffolding products and solutions. See further on their website: http://rmdaustralia.com.au/
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