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Debt collector companies

Are debt collector companies all the same?

As we approach Christmas and New Year 2020, more and more business owners will be searching for debt collector companies. More often in a bid to collect as many payments as possible, particularly before the *long Winter break.
*believe me for some businesses the Winter break is a long time!

So its important that you keep on top of your cashflow around this time, but its also equally important to know which debt collector companies you can trust. Particularly, how professional they are.

On a few occasions this year we’ve had clients come to us to collect their debts after having had experience of other agencies. They enquired with us quite simply because they failed to collect their debts. They also provided hardly any feedback throughout the process, often charging a disproportionate fee to instruct them as agents, to never see them again.

Debt collector companies

When dealing with debt collector companies, we would always recommend you look for at least 4 things before choosing which one to go with:

1. Reputation – do they have an online presence (and we don’t just mean a website here, although that is a start). How good is their website, does it look like it took them 30 mins to put it together on a cheap do-it-yourself website builder? Do they have an active social media presence? Do they have testimonials which are NOT on their website (because these can be easily made up)? Or are the testimonials on external sites such as LinkedIn and Google? (these can’t be made up – or at least require much more effort!).

2. Professionalism – how professional do they sound when you talk to them? Do they give you multiple options for collecting the debt such as chasing by phone and letter, solicitor involvement, court proceedings, insolvency? And what happens if its disputed? These should all be considered when you are talking to debt collector companies. They should also have the answers instantly to any queries you have.

3. Coverage – are they located close to you and your debtors? Its imperative that debt collectors have a national presence so that they have the ability to collect debts UK-wide. Many collectors will only focus on the South East, or London as this can be a more corporate environment which will earn them bigger commissions.

4. Affiliations – are the debt collector companies highly regarded in the industry? Are they a member of a local business club, FSB, or Chamber of Commerce? Do they work with solicitors and how do they work with solicitors? Its crucial that you check who they work with and how, in order to build trust in that debt collector.

Its all about trust

The list is not exhaustive, but these are just some of the considerations you should give if you are looking for debt collector companies. Remember they will be representing your business in collecting debts, so you need to trust them!

If you are wondering how to find debt collector companies that can be trusted, check out our testimonials. Or to make contact, please email or call on 01332 565 350 to see how we can help you improve your cashflow and debt collection rates.

A Debt Collection Agent

A Debt Collection Agent Increases Cashflow

A debt collection agent should always be firm but fair when collecting unpaid invoices for clients, we should know! With a systematic approach to recovering money, our client’s are finding the benefit of having a debt collection agent on-hand. They can can then handle any issues that arise which can impact cashlow.

Here’s a great example of how we helped a cleaning company get back on track:

We recently acted as a debt collection agent for a client’s sales ledger and within 3 months, we had collected £100K of +60 day debts. The healthier-looking ledger, being consistently managed by our in-house team and kept at manageable sustainable level, allowed our client to concentrate on new sales and not worry about old items being paid. They were comfortable in the knowledge that cash would be consistently flowing into their business – with our expert help as a debt collection agent.

Its clear to see how a company can improve its cash position with such a professional approach, and collect debts quickly!

Top Tips From A Debt Collection Agent

Too often companies are coming to us for help when it’s far too late. You should always examine your sales ledger and aged debt reports every month. This will ensure none of your customers are in the +60 day bracket as this can impact your cash position. 

If a debt goes beyond 60 days without reason, or dispute raised, please do seek the help of a debt collection agency to discuss your options.  It’s often more affordable than you think!

Don’t leave it too late

If you need help collecting debts, or want to chat to a debt collection agent, call us 01332 565 350.

We will be happy to discuss your requirements on a no-obligation basis. Email, or visit our testimonials to see how we have helped others!

Outsourced Credit Control Services

The Untold Secret To Outsourced Credit Control Services In Less Than Ten Minutes

Our clients appreciate how we approach outsourced credit control services.  There is no mystery. But there is a secret.

We have a simple method which is effective and produces results, and we have narrowed it down to three key areas you need to focus on.  If you are thinking about outsourced credit control services, you will want to make sure your provider is putting some systems in place that can be measured on the following things:

  • Calls – you have to make calls for people to pay you. Its just human nature.  People pay people.  Emails can easily be ignored.  Get on the phone and speak to an employee at the company that owes you money.
  • Copies of invoices – always have these to hand, including all the details of the job at hand, if you’re considering outsourced credit control services. Lack of invoice copies is the no.1 reason for late payment, according to a recent survey.
  • Follow-Ups – don’t just think because a customer has said they will pay, they will. Always follow-up with a call, email or letter, many customers take 3 chasers before they consider your chasing action to be serious, so bear that in mind if you are looking at outsourced credit control services.

Outsourced Credit Control Services

Above are just a few pointers to keep in mind if your company has a requirement for outsourced credit control services.  It can be a long drawn out affair chasing invoices, but you will save time and money by outsourcing operations of this nature.

Many of our clients tell us this is the worst part of being in business, and this is the no.1 reason they outsource their collections procedures!

If you need any help collecting debts, or want to chat about outsourced credit control services, speak to our team at Taurus on 01332 565 350 and we will be happy to discuss your requirements on a no-obligation basis or email

Collecting Overdue Accounts

Take 2.6 Minutes to Get Started With Collecting Overdue Accounts… You’ll be Happy You Did!

So you are a business owner and collecting overdue accounts is a problem.  Well, luckily, help is at hand.  Most of our clients have very little experience of collecting overdue accounts, believe it or not, this was NOT the reason they started a business.  It is often the last thing a business owner wants to do.

Collecting Overdue Accounts

However we can help you implement some really simple practices to cut down the time you spend on collecting overdue accounts, and allow you more time to grow the more enjoyable parts of your business like sales and new clients.

  1. Invoice quickly – always invoice on completion of a job. Many companies wait until month-end to raise an invoice, which only serves to lengthen the payment terms more than necessary.
  2. Chase politely (at first!) – schedule a call 1 week before the payment terms are up, so after 21 days to make sure they have received a copy. When collecting overdue accounts, not having a copy of an invoice is the no.1 reason for late payment!
  3. Chase firmly (when overdue!) – if an invoice remains unpaid for longer than 2-3 weeks, always follow through on any threats you make. Advise your customer that you will be adding charges and interest for any further delays.

So there you have 3 very simple tips to get you going when collecting overdue accounts.

Remember, that chasing is all about procedures and you should implement a credit policy for your business so everyone knows their duty, right from sales executives, to managers, to staff – collecting overdue accounts should be your comapany’s no.1 priority.

Remember, Cash is king.

If you need any help collecting debts speak to our team at Taurus on 01332 565 350 and we will be happy to discuss your requirements on a no-obligation basis or email

Debtor collections

Who Else Wants To Know How Debtor Collections Can Improve Cashflow

How many times do you here it from your customers?  4 or 5 times per month, maybe more: “We can’t pay because a) we don’t have a copy b) we don’t have a PO number c) our system made an error d) the manager who signs the cheques is on holiday e) the rates are wrong….the list goes on.

We know how you feel.  And it is frustrating for you as a business-owner.  That is why the best way to combat these excuses in Debtor collections is to have all your ducks in a row, and that I mean procedures.  Calling, emailing, letter-writing, all need to be aligned in your chase procedure by your credit control department to keep delays in payment right down to a minimum.

Here’s a few quick tips to boost your cashflow when considering debtor collections:

  • Communicate – call your customers 14 days after sending an invoice. That way if your terms are 30 days, you have 2 weeks to iron out any queries or disputes, and then there is more chance of getting paid on time.
  • Follow-Up – use formal communications when the invoice becomes overdue (i.e past 30 days) a written correspondence actually stating “OVERDUE” in the email title is very hard to ignore, and often gets a swift response.
  • Legal – if a customer has reached 60 days without a valid reason for non-payment and/ or isn’t responding to your calls, emails or letters, DO NOT DELAY. There may be an issue with your customers finances and the next correspondence you receive in the process of debtor collections could be a Notice of Insolvency.

I hope that these quick tips are useful for your Debtor collections efforts and these are procedures you can put into place in your business today.

If you would like to chat through any problems with Debtor collections, or would like to improve your cashflow, please don’t hesitate to contact us on 0800 160 1681 or email, or visit our website

Collection of Accounts

How To Take The Headache Out Of Collection of Accounts

Many of our customers often ask us what the best practice is for Collection of Accounts in 2016 to keep both the customer happy, but also get them to pay on time.  Its often a chore of chasing, by email, letter and phone call that most businesses don’t like and feel that once an invoice is sent it should be adhered, and paid in a timely manner inside 30 days.

But that’s an ideal world in collection of accounts.  The best way to motivate your customers to pay on time is to engage with them.  Keep in touch at all times, make a relationship with them.  If your credit control team is acting for you, then ensure they go and visit the customer’s accounts team, or take them with you on your next sales call or review meeting.

Your credit control team is a crucial part of your business, and you should listen to them carefully.  Here is 3 simple tips to get your collection of accounts team motivated:

  • Involve them – they are on the frontline, invite them to the next sales meetings, they can communicate with the sales person that has the relationship with your customer and perhaps let them resolve any payment issues directly with the buyer
  • Ask them questions – they can see the payment patterns of your customers. They know if it would be risky to take on a new order, or whether to extend credit terms to them.  They should be like your financial advisor within your business!
  • Respect their role – they do a really important job for your business, and that is collecting cash. Without cash, you have no business.  So be friendly to them, make them feel important, take them out on business trips.  They will perform better, and your cashflow will improve!

So above are a few pointers for motivating to a better collection of accounts situation.  And always remember that your credit control team is the eyes and ears of your business when it comes to looking after current customers.

If you would like to chat through any problems with Collection of accounts, or would like to improve your cashflow, please don’t hesitate to contact us on 0800 160 1681 or email, or visit our website

Collecting on a Debt

Effective Strategies for Collecting on a Debt

Many companies consider collecting on a Debt as the last resort when they undertake new business with a customer.  However its crucial that you have a system in place that will enable collecting on a Debt as a way to improve your cashflow and weed out the bad payers.

When looking at a strategy for collecting on a Debt, the main point to consider is escalation.  The customer needs to be aware that every stage of non-payment, a likely charge will be incurred, and you need to emphasis this threat in each correspondence with them.

Here’s a brief list of escalation procedure to follow at each stage of the invoice cycle:

20-30 days:

customer-service telephone call to customer to make sure they have a copy of the invoice, and that the invoice is on this months payment run (emphasis this is not a chaser, and that you are merely checking they have a copy to help them process correctly)

30-40 days:

official chase call to advise invoice is overdue and it is company policy to add interest as long as late-payment continues

40-50 days:

final reminder call to advise interest is accruing on the invoice and the matter will be passed to a 3rd party for collection, and all costs will be added on.

Basically, they need to provide you with a valid reason for non-payment, or they need to pay.

Always remember that collecting on a Debt should be a structured procedure and if your company follows this procedure, then you will get paid quicker.

Also when collecting on a debt, you MUST follow-through on any threats to escalate, for example, if you give your customer 7 days to pay or you pass it to a Solicitors or Debt Collection company, then you must do that or you lose credibility, and they will never take any future threats seriously again.

If you need any help collecting on a Debt, please don’t hesitate to contact our team at Taurus and we can see if we can help you out, call today on 01332 565 350 , visit us HERE or email

Outsourcing credit control operations

Proof That Outsourcing Credit Control Operations Is Exactly What You Are Looking For

Cash is king. We keep banging on about this, and our clients are all too familiar with the phrase, and that is why we have enjoyed successful collections for more and more businesses in the UK over the last 5 years.
Dig deeper though, and the real value of outsourcing credit control operations can be found.

We have come up with 3 reasons why outsourcing credit control operations should be considered as part of your cash collection priorities in your company:

Cost: it’s cheaper than employing someone. Outsourcing credit control operations is not expensive, depending on the number of accounts you have and invoices you produce, most solutions are cheaper than having a member of staff in charge.

we are motivated to achieve the best results for your company. We have key indicators which will determine how well outsourcing credit control operations are going, typically debtor days and an improvement of your cash-flow position are our no.1 priority.

Dedicated Credit Controller: providing a 1-to-1 service, your credit controller will liaise directly with a point of contact, phoning in your company name to chase debts and supply copy invoices, doing the job you hate!

So if you are thinking of ways in which to improve your cash-flow and reduce staff costs at the same time it might be worth considering outsourcing credit control operations, to help your business improve in the present and grow in the future.

Remember cash is king (yes I know we said that) but really, if your business does not get paid, how do you pay your suppliers? Our favourite motto is: Debt collection keeps you in business.

If you need help with debts or would like a chat about outsourcing credit control operations, please don’t hesitate to contact us on FREEPHONE 0800 160 1681 or email

Accounts collection

3 Accounts Collection Tips that Guarantee Success

3 Accounts Collection Tips that Guarantee Success

Company owners and Directors face many challenges with Accounts Collection throughout their time in business, but without doubt the single most important challenge is a shortfall in cash. This is why cash should be the no.1 priority for all Owners and Managers involved in the running of a business.

We have put together a brief list which will help you maximise your Accounts Collection, and take the stress away from a very important, but often very undesirable, part of running a company.


These are crucial to getting paid on time. The no.1 reason an invoice is paid late is because of mis-information. Check your invoice needs a Purchase Order, include bank details, telephone, email, reference number…why not even phone your customer after 7 days to make sure all the information is correct!

Chase by Calling

Accounts Collection should be based around speaking to your customers. Treat the call as customer service, then enquire to make sure there are no problems with the invoice. Schedule a call every 7 days until they give you a payment date.

Chase by emailing

Often copy invoices are required in Accounts Collection, and you should initiate a standard follow-up email “with a copy invoice attached” after 14 days, and re-iterating your payment terms. Emphasise that there is a deadline for queries on the account (give them 14 days). This will focus your customer to contact you and also will eliminate the common excuse of not having a copy invoice.

It is important to remember in Accounts Collection that your company has extended credit to your customer and therefore it is a privilege and not a right. You need to take control of the situation and be strict with your payment terms. Often your customer will respect your professionalism in Accounts Collection, and pay sooner than most.

If you need any help with Debts, or Accounts Collection, please don’t hesitate to contact us on , visit us HERE or call 0800 160 1681 for a friendly chat.

Good collection agency

5 Benefits of Using A Good Collection Agency

Many businesses we come across are successful in their industry, but despite this success in achieving fantastic sales figures, they often fail to realise that only once a customer has paid is the sale worth anything to the business. This is where a good collection agency can help your business out.

A good collection agency

A good collection agency will always take time to learn about your business and develop a system that satisfies you (and the customer) by making sure your sales are paid.

We have put together a 5 point list that your business will benefit from by using a good collection agency:

  1. Time-saving: the amount of time your staff are spending chasing accounts, when they could be focusing on better paying customers, or their actual job. A lot of the time we find businesses are not utilising their staff skills in the right areas.
  2. Cost-saving: Besides savings on staff costs, or time of the owner, debt charges are recoverable by law, together with Late Payment Charges and Statutory Interest at 8.5% and a good collection agency should always aim to get their clients back to a No Cost situation
  3. Streamlining processes: with a process system in place, your accounts department can easily implement a referral procedure of aged items. Once an account hits 60 days overdue, for example, then this is an unacceptable delay and the account should be referred to a 3rd party for collection.
  4. Credit checking: clients of a good collection agency can request discounted credit reports on potential customers, so the collection agency works with the company for a more risk-protected business.
  5. Legal: should the last resort be necessary, many collection agencies work with the regions top solicitors to handle all matters if they go beyond the pre-legal collection stage.

So you can see how a good collection agency can help your business and support the accounting function to keep you on top of your late-payers.

Remember business survival is based on getting paid, and once that supply of cash is delayed for even just a few months you may not be able to pay your own bills and that is when problems arise. Working with a good collection agency will help maintain your business survival!

If you have any issues with Debt, or need help with collecting overdue accounts, please don’t hesitate to contact us on 01332 565 350 , visit our site or email

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