Collection of debt

3 Secret Strategies to Improve Collection of Debt Today

As the UK economy continues to grow slowly but surely, collection of debt for companies has never been more important to ensure survival in an ever-competitive market-place.  Our clients know that timely collection of debt is crucial to their cashflow and so they have implemented strict procedures into their company to ensure they are not seen as the “soft touch’ when it comes to getting paid.

So we thought we would share some quick secret-strategies to use in your business to place collection of debt at the top of your company priorities:

1. Invoices

This is where it all starts.  Make them clear, concise and crucially make sure they include details of how to pay you! Sort code, acc number, tel. number to pay by credit card, paypal ID, address to send cheque to.  Remember an invoice is a “notice to pay” so make it clear it needs to be paid.

2. Chasing

Schedule calls to your customers every 7 days.  Send a minimum of 2 letters and call 2 times before ever considering escalating to legal or 3rd party debt collectors.  Your customers will appreciate being reminded to pay as often Accounts Dept can get bogged down and they only pay when they are chased.

3. Escalation

Never delay past 50 days.  If you have had no response to this point as in-house collection of debt, you should quickly pass to legal dept or 3rd party for collection.  Timing is everything and the customer may have serious financial issues or be closing down, so it is important to move fast.

So there you have it, some handy hints on how to prioritise collection of debt, which will put your company in a good footing of financial stability.

If you would like to speak to one of our agents about collection of debt in your company, and learn how we help similar businesses across a range of sectors in collecting debts, please don’t hesitate to call us 0800 160 1681 or email

Overdue account letters

You Too Can Improve Your Company Cashflow in 90 days With Better Overdue Account Letters!

The most important part of debt collection for your business is the pre-emptive stage. This is calling, chasing and generally making your customer aware, in a firm but fair manner, that their account is overdue.

This is where overdue account letters are critical to your processes. Your credit control department should spend a long time crafting overdue account letters templates, because if these are worded weakly, this will reflect in your collection rates, and ultimately impact your cashflow.

Here are 3 tips you can implement today in your overdue account letters to start improving your company cashflow:

• Be serious & state facts– ensure that there is an escalation process that you have followed. So when they receive the 1st overdue account letters, you make reference to the fact that you are disappointed not to have received payment, and state exactly how many days overdue the invoice is.

• Recover costs – use this as a bargaining tool. All companies have the legal right to charge interest on overdue account letters. The rate is currently 8.5% and Late Payment Charges are also recoverable. This should be in bold, in a box, at the bottom of all your collection letters.

• Make the threat real – always mention in your overdue account letters, that continued delay will result in the account being placed on stop and being passed to a 3rd party for collection. The fact that you have stated it, often is enough for customers to pay quickly, once they realise the reality of the situation.

The above tips should go a long way to making your overdue account letters more effective at collecting debts from you late paying customers.

Remember, processes are crucial to getting paid on time, and gradually increase the seriousness of the situation by using more threatening language in your overdue account letters.

For help with any late-payers email us or call 01332 565 350 today for a no obligation chat about how we can help you improve your cashflow.

Credit collections and creating the perfect invoice

Credit Collections Secrets: How To Improve Your Company Cashflow Using These 5 Techniques

A company’s cashflow is the centre-piece of any business.  We all know that without it, and a failure to apply strict credit collections procedures, a company will inevitably fail to trade successfully, and usually eventually die.

However it is often very easy to state this line of warning, but what about the mechanics of successful credit collections.  What can you do today that will instantly improve you company cashflow?  How can you communicate with your customers quickly and simply to make credit collections a more effective exercise?

We have decided to put together a checklist to create the perfect invoice.  Remember an invoice is often the very first document your customer (or at least their Finance Dept) sees from you, so it should be clear, concise and a “notice to pay” if you want to be successful in credit collections:

1)      Bank details – Include bank details on your invoice, clearly marked, in bold, in a box, underlined etc. highlighted as much as possible.  This is a common cause of non-payment for some of our clients, they simply did not mark their bank details clear enough, or even at all on the invoice!

2)      Contact details – Include contact details on the invoice in case of query.  Again mark clearly and in bold at the bottom, you will need an email address, telephone and fax number so any issues can be quickly resolved and your credit collections not delayed.

3)      Service or product description – be accurate.  Detail exactly the product or service you have provided.  80% of queries revolve around not knowing what work was carried out, or a rate dispute, so make it clear how you have come to your invoice total.

4)      Warn of late payment consequences – Include a 1-line notice at the bottom, stating along the lines “Should you fail to pay in line with our 30 day terms, we reserve the right to charge Late Payment Charges, Statutory Interest at the rate of 8.5% and costs for recovery by a 3rd party debt collection agency”.  This will make it clear to your customer that you have a plan, which you are serious about carrying out, if they fail to pay on time.

5)      Ensure sending receipt – another top excuse for late payment can be that the customer hasn’t received their invoice.  Always, always, always email your invoices (unless your customer expressly states otherwise).  Emailing ensures receipt and you have digital evidence (time and dated) of sending in your sent items, so your credit collections won’t suffer unnecessarily.

So above are a few pointers when you are carrying out credit collections in your business, you must remember the detail is important when constructing your invoices.

This is something you can start implementing with your finance team TODAY, so don’t hang around and start improving your cashflow and let’s see more businesses prosper in the final quarter of 2015.

If you need to talk about company cashflow issues, with regards to debt collection, invoice financing or Insolvency, please don’t hesitate to contact us on FREEPHONE 0800 160 1681 or email

How To Collect A Debt From A Client

Breaking News! I Need A Collection Agency

Businesses are built to grow.  But most businesses can go through a period of struggling to pay – and collect – their debts, particularly around the summer holiday period when staff are on holiday and no-one is around at your customers workplace to pay your invoices.  If this all sounds a familiar then you might just have a cash-flow problem and you might soon be saying: I Need a Collection Agency.

But don’t bury your head in the sand!

Keep your mind clear and look out for tell-tale signs of cash-flow problems in your customers business so you can stay on top of the payment pile.

Here’s 3 warning signs when you might utter the words I Need a Collection Agency:

  1.  Your customers are not answering their phone, or responding to emails.  Or if they do, the decision maker or business-owner is either out of the office or in meetings every time you phone.  If the debt is 45+ days old, you might want to start considering 3rd party help.
  2. Your regular customers have suddenly stopped placing orders, despite owing lots of money.  We have seen this countless times when firms go insolvent, they leave a large portion of debts to build up on their account, and often use another company to supply them to spread their debt.
  3. Your customers are disputing invoices more and more, this can be a sign of a company struggling with cash-flow and making up excuses to pay late.  Often there are no valid disputes and a debtor will pay with help from a collection agency.

This list is certainly not exhaustive when it comes to the next time you might be considering saying I Need a Collection Agency for my business.  But it is worth noting some of these points when you are analysing your customers payment patterns and behaviour because if you leave it too late, your customer may go bust and you get nothing.

The sooner you act when it comes to debt, the more chance of a successful outcome….so remember the next time you say I Need a Collection Agency …to quote a much-loved 80s film, who are you going to call?

If you are struggling with debts in your business, and you would like to discuss how we can help, please don’t hesitate to call us on Freephone 0800 160 1681 or email

Recovery of business invoices

3 Recovery of Business Invoices Lessons You Can Benefit From Today

Our clients find that persistence is the key when chasing debts, but understand there is a line to be drawn when considering the successful recovery of business invoices.

We have put together a selection of the top excuses from Debtors we find when we collect debts on behalf of our clients. It is important for your business to consider these in the recovery of business invoices so that lessons can be learnt, and so you know when your customer is simply trying to delay payment!

  1. The cheque is in the post – a very common excuse as this one is difficult to disprove. Best response is to request a cheque number or ask them if they sent it 1st or 2nd class?  This usually catches them off-guard if they are trying to delay. If it turns out no cheque has been sent, ask them to cancel it and request a same-day Bank Transfer instead then you can monitor receipt.
  1. We haven’t received your invoice or statement – always email copies on the date of issue. This way you have a receipt saved in your outbox and you can read out the exact date and time to your customer, and they can check their inbox. They then feel guilty they “missed” the invoice, and often pay within a few days. Or alternatively, send them a copy whilst on the phone and ask them to pay today.
  1. Debtor not available – people do not want to pay, so they do not always want to answer the phone! We often experience this kind of situation as best rules are to try phoning at different times of the day, often 9.30-10am (pre-meetings), 11.30-12.30 post meetings/ pre-lunch, and late afternoons (afterr all-day meetings). Alternatively ask to speak to a Director or Finance Person and ensure this is given urgent priority to the Company owners.

We hope this snippet has given you an idea of the challenges faced in the recovery of business invoices.

Collecting invoices in a timely manner is crucial to your cashflow and ultimately your business survival, so we wouldn’t recommend leaving it too late to ask for help from a Debt Collection Company.

If you are struggling in recovery of business invoices, and you would like to discuss how we can help, don’t hesitate to call us on Freephone 0800 160 1681 or email

Outsourcing credit control operations

3 Helpful Tips for Debt Collection No Win No Fee

On a daily basis we have enquiries regarding Debt Collection No Win No Fee and businesses ask what the catch is with this kind of service. Our simple reply to this type of question is always – there is no catch, you pay us when you get paid. It’s a win-win situation. It’s a no-brainer.

Its hard to believe, but Debt Collection No Win No Fee is exactly that. We do all the hard work for you: chasing, calling, sending letters, negotiating on the telephone, communicating bank details, dealing with any queiries, ensuring costs & interest are recovered, saving you time, money and hassle.

Here are top 3 reasons why businesses choose Debt Collection No Win No Fee for their business:

1. Protection – like an insurance policy, outsourcing debt collection on a success-only basis helps protect a company from losing the money all together. If you delay chasing payments, they become less chance of collection.

2. Time-saving – business-owners do not have time to collect invoices which are late. That is why when a debt passes the 60 day mark, many of our clients request us to collect on a debt collection No Win No Fee basis.

3. Cashflow – even-though business-owners know they may concede 5% in commission to the collection agency when considering Debt Collection No Win No Fee, the benefit in cashflow far outweighs that small loss. Debts left unchased can quickly go bad, and then you lose 100% of your money, as oppose to 95%

So here you can see why debt collection no win no fee is a crucial process for a business in their monthly routines and you should consider this too.

If you would like to chat about how we can help you structure a debt collection procedure to boost your cashflow, please don’t hesitate to call us for FREE on 0800 160 1681 or email

  • Outsourced debt collections – should you or shouldn’t you?

Outsourced debt collections – should you or shouldn’t you?

For Outsourced debt collections and credit control we have an expert team that can help your business prosper by collecting debts on-time, saving you money and hassle.

No need to employ someone or have an uninterested admin person trying to collect your debts. We can do a professional comprehensive job for you for 30% of the cost of employing someone.

Talk to us for a no-obligation chat about how we can assist your business by improving cashflow and reducing debtor days. We are helping more businesses all over the UK. Call us on 0333 336 7196 or email

Our clients are important to us

We are proud of the work we do to help our clients recover what is rightfully owed to them.

Talk to us for a no-obligation chat about how we can assist your business by improving cashflow and reducing aged debtor days.

We are helping more businesses all over the UK, and they are saying good things about us!

Call us on 0333 336 7196 or email

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