Multiple Account Recovery for Faridi Impex

Client Overview

Faridi Impex, a key player in the import-export industry, was facing a significant challenge with 15 overdue accounts. The total outstanding amount was Rs.20,00,000, with payment delays stemming from the debtors’ reduced revenue. This required a strategic approach that balanced prompt recovery with the need for flexible solutions, leading Faridi Impex to partner with Taurus Collection.

Understanding the Challenges

The primary challenge was managing a high volume of accounts, all suffering from the same root cause: financial strain due to reduced business. An aggressive, one-size-fits-all approach would not only be ineffective but could also alienate the debtors and hinder any potential for recovery. Our task was to create a tailored strategy that could be applied across multiple accounts, focusing on securing partial payments and structuring a path to full recovery.

Our Approach: Phased Recovery and Strategic Structuring

Our strategy for Faridi Impex was designed to be both efficient and empathetic, focusing on immediate recovery while building a framework for future payments.

1. Prioritized Engagement: We quickly assessed the 15 accounts to identify those with the highest probability of an immediate partial payment. This allowed us to focus our initial efforts where they would be most effective.
2. Negotiation of Phased Payments: We engaged in constructive conversations with the debtors, acknowledging their financial difficulties. Instead of demanding full payment upfront, we negotiated structured payment plans that were realistic and manageable for them.
3. Consistent Follow-Up: Our team established a rigorous follow-up schedule to ensure debtors adhered to their new payment commitments. This consistent communication kept the process on track and encouraged accountability.

    

Results: Immediate Impact and Future Recovery

Within just 1 month, our strategic approach yielded significant results for Faridi Impex, providing immediate cash flow relief and a clear path forward for the remaining accounts.

• Partial Recovery: We successfully recovered Rs.2,00,000 from 6 of the 15 accounts.
  
• Payment Plans Established: We successfully set up structured, ongoing payment plans with the debtors for the remaining balance.
  
• Positive Momentum: The initial recovery and establishment of a clear plan created positive momentum and demonstrated our ability to resolve complex, multi-account challenges effectively.
  
  

This case study highlights Taurus Collection’s expertise in managing high-volume cases with financial sensitivity. By prioritizing ethical engagement and flexible payment solutions, we can achieve substantial recoveries while building a sustainable plan for the future.