Debt Collection - How to Deal with Late Paynents
Several people have asked us about how to go about collecting late payments and invoices that customers are refusing to pay.The first thing to do is ensure your credit policy is effective. This means having a good understanding of how and when it is sensible to provide credit. For example, offering £5000 on 6 months credit to a business you know is struggling for money would be very bad credit policy!
For information on when to provide credit visit our Business Credit Policy portal.
Debt Collection itself can be hard work; but we have lots of extremely useful information in our Debt Collection portal to help you get the money you are owed. This includes help on obtaining the late payment interest and costs you may legally be entitled to.
We also have a number of collection letters on our free BizStart24 business software.
External Debt Collection:
You may of course find it quicker and easier to get a dedicated Debt Collection company to collect the debts on your behalf. Our Debt Claim service works on a No Collect No fee basis, so you only pay if we are successful. See if our Debt Collection service can help you.
