Debt Recovery Success Story: High Value Personal Loan
1st September 2020
Debt Type: Unpaid personal loan
Debt Amount: £100,000
Result: Debt paid in full within 9 days
About the case
The debt was accrued between two individuals, one of whom had loaned a significant amount of money to the other to pay for University fees and various other debts.
Even though the loan was for close to £100,000 without interest over the course of a year, the debtor failed to return any of the money outside of one repayment for £4,000.
Tired of excuses and out of pocket
After months of being lied to and given endless excuses by the debtor, who even ignored letters sent by solicitors, the creditor finally decided it was time to call in professional help and get his money back.
Knowing of our reputation for swift, professional debt recovery, he called on Direct Collection Bailiffs Ltd and sent us his proof of debt.
With this information in hand, we got to work on tracing the debtor’s current address and contact details to open a line of communication right away.
DCBL’s reputation pays dividends
As they were already familiar with DCBL’s reputation and our effectiveness, the debtor quickly responded to our direct communications, promising payment within the week.
Six figures collected in full
A few days later the debtor called our office to make a card payment of over £100,000, which included the full debt amount plus interest and our fees.
This came as a huge relief to our client. Without needing to go through lengthy court proceedings, we had recovered the full amount owed to him in one go.
Have you got a debt you’ve been chasing to no avail? Talk to DCBL about how we can locate your debtor and get you paid quickly. Call 0203 298 0201 or get a Debt Recovery quote via our online form.