Cedar Financial has a long-standing history of strategically dealing and negotiating with customers on behalf of our international clients. Over the course of the last 30+ years, we’ve seen a surplus amount of challenging recovery cases, and not every case at Cedar ends in confrontation. Vietnam commercial debt recovery can be complex, but Cedar Financial specializes in resolving high-stakes commercial debt while preserving relationships.
We believe in an empathetic approach to debt resolution, an approach that is fueled by diplomacy and grit, something that was going to be tested in this very case.
When our client escalated an account in August 2022 – valued at $155,000 – it came with a clear directive.
The mission at hand? Recover the debt without jeopardizing the partnership.
What came after was a nine-month journey of perseverance, resistance, and strategic debt recovery collaboration, which ultimately led to a successful resolution.
Let’s turn back to the books of 2022 and recall how Cedar’s strategic debt recovery approach turned a complex case into a win. And that too without compromising any relationship ties for our client.
The Escalation: When Business Starts to Break Down
This case was unique from the get-go. The customer was operating as a business partner under our client’s agreement, which made this more than just a typical recovery case for us.
There was an already established arrangement in place; repayments were being deducted from ongoing booking fees, but the pace was too slow to be sustainable.
By October, communication between the two began to falter. Deadlines slipped by like nothing. Promises were being blurred out. The debt remained outstanding, and the strain on the relationship started to show.
That’s when Cedar stepped in. But this time, not just as a collector but as a client-focused debt negotiation partner.
The Standstill: Resistance, Delays, and Strategic Reframing
By November, we had entered serious negotiations. A month later, our team faced new challenges. The customer began pushing back on expectations, citing internal financial limitations.
With complex negotiations unfolding by January 2023, we recognized that pressure alone wouldn’t be enough. Customized repayment solutions for debt recovery became our guiding principle.
We implemented a multi-layered strategy:
- Open, transparent communication between all parties
- Regular client updates on every negotiation milestone
- A tailored approach to the customer’s operational reality
Rather than demanding unrealistic lump sums, we suggested feasible alternatives like increasing the booking fee deduction percentage and adjusting room rates to generate additional cash flow.
One might think of this as a compromise, but contrary to that belief – we saw this approach as a strategic lever that aligned our client’s business operations with repayment goals.
The Turning Point: From Resistance to Resolution
By March 2023, the groundwork paid off. We finalized a collaborative repayment agreement that honored the situation’s urgency and the customer’s constraints.
The customer confirmed two structured payments:
- $81,106.43
- $73,176.48
By May 12, 2023, the full amount was recovered, down to the last cent.
This was not just a successful debt recovery case study but a blueprint for preserving trust while pursuing results.
Vietnam Commercial Debt Recovery: Full Settlement Through Collaboration
This international recovery case was a clear win. $155,000 fully recovered, but just as importantly, the business relationship remained intact.
- No legal battles
- No fractured partnerships
- No scorched-earth tactics
Cedar’s role extended far beyond collection – we served as a bridge, guiding both sides to a solution grounded in empathy and aligned incentives.
It’s a standout example of maintaining business relationships during debt collection, proving that the right strategy makes all the difference.
Another Win on International Soil
This case saw positive results on both fronts: debt settled and partnership preserved. It demonstrated the impact of strategic debt recovery collaboration that our team showed and the client-first mindset that Cedar carries, ensuring a strengthened partnership for our clients.
At Cedar Financial, debt is not just a number to us. Behind every delinquency case, we see the people, the partnerships, and the pressure that comes with it. Our strength lies in balancing assertiveness with emotional intelligence.
We believe that success in collections isn’t about how much you recovered but more about how it was recovered.
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If you’re looking for more than just a collection agency and are in need of a strategic partner to handle complex accounts with care.
