BUSINESS OBJECTIVES ACHIEVED
We will help you be proactive in preventing bad debts accruing and minimise the disruption (and maximise the return) when they do.
Completely avoiding late payments is probably not realistic, but there are ways you can reduce it.
Here is our checklist for effective credit control:
It can be tricky dealing with late payments whilst maintaining a good relationship with your customers or client. One way to depersonalise the collection process is by instructing a solicitor led debt recovery service such as Forbes Collect.
Inform debtors that the decision to take legal action is not personal and is out of your hands. It is sometimes a requirement of insurance that legal action is taken to recover unpaid invoices after 30 days.
In most cases this won't do any damage to your business relationship; however, if late payments persist, it might be worth thinking about whether you actually want them as a customer.