Insights on Debt Collection

Explore our latest articles on credit control strategies.

The Importance of Training in Credit Control: Safeguard Your Business’ Financial Future

Credit control plays a pivotal role in maintaining financial stability for businesses of all sizes. Yet, many companies underestimate the impact training can have on refining their credit management processes. This post outlines why training in credit control is vital for protecting your business’s financial health, reducing risks, and fostering stronger customer relationships.

January 29, 2025

January 29, 2025

How to Take Someone To Small Claims Court

This article provides a step-by-step guide on taking legal action against companies that fail to pay debts. It covers costs, the claims process, court hearings, and enforcing judgments. It also explains how to calculate interest and fees, encouraging creditors to resolve issues before escalating to court.

January 29, 2025

Best Practice Credit Control to get Paid on Time, Every Time

This guide highlights proactive strategies to ensure timely payments from customers. It emphasises the importance of mid-term invoice follow-ups, resolving issues early, and creating strong credit control processes. Outsourcing credit control is also recommended for businesses lacking the resources to handle it effectively.

January 30, 2025

Your Business Credit Score

The article explains the importance of monitoring and maintaining a healthy business credit score. It offers practical tips on keeping records updated, paying invoices promptly, and limiting credit applications. It also stresses the need to check customer and supplier creditworthiness to avoid financial risks.

January 29, 2025

How to Check if a Company is Still Trading

This article explores tools and resources, such as Companies House and the London Gazette, to determine whether a business is still operating. It explains how to identify signs of financial distress and offers advice on next steps if a company has gone into administration.

February 24, 2025

How to Decide Whether to Give Credit to a Customer

This guide outlines the importance of credit application forms in assessing customer creditworthiness and securing payments. It explains what information to request, including company details and credit references, and stresses the value of having customers formally accept terms and conditions.

February 3, 2025

Can I Add Interest to an Overdue Invoice?

The article explains UK legislation around claiming interest and compensation for overdue invoices under the Late Payment of Commercial Debts Regulations. It details how to calculate interest, apply compensation charges, and determine whether enforcing these charges is appropriate for a given situation.

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