[INFOGRAPH] How To Recover A Debt From A Company

A quick guide to help you learn how to recover a debt from a company

Many of our clients ask us what is the most effective method of recovering a debt from a company. And our answer is always the same. There is no silver bullet. There are a series of steps that need to be taken in order to recover a debt from a company.

Obviously there is the direct route by No Win No Fee Debt Collection, but it is important to have a plan of action right from the very start of your invoice journey. So our guide takes you through that. From date of invoice is raised, right through till the invoice becomes overdue, through to unacceptably overdue.

The age of an invoice can vary to what is acceptable to some business owners. But generally speaking once an invoice has hit 60+ days, then you should be seeking extenral help with debt collecting.

Don’t let debt destroy your business – stand up to your non-paying customers!

It is important that when you identify a debtor, are they genuinely struggling to pay? Or are they making excuses about not paying? If dialogue goes cold, you should contact a 3rd party to help you collect the debt. Once all efforts internally have been exhausted, your credibility goes down if you continue to let them get away with non-payment.

So our guide helps you understand how to reover a debt from a company. The procedures are simple to follow and once these are implemented into your business, your cashflow should improve. Without a process in place for debt collecting, your company may face cashflow issues further down the line.

How to recover a debt from a company
How to recover a debt from a company – tip: you can ask for help!

With the COVID-19 pamdemic only compunding the problem, it is good to have someone on your side. It is important to have a network of support in place. If you are looking to recover debt from a company, we are here to help.

We know that many 1,000s of businesses are struggling through the pandemic in 2020, so please feel free to contact us for help. Call us on 01332 565 350 or email enquiries@tauruscollections.com