September 18 2015
My Credit Controllers today announced that it has successfully collected a debt for a client that was more than 926 days overdue.
The invoice was over 30 months late when it was submitted to the company’s web-based debt collection service by a small IT consultancy that had done subcontract work for a Telecommunications company.
“People don’t realise that you can chase an overdue invoice any time up to the sixth anniversary of its due date, so it’s always worth a try.” said Sam White, CEO of My Credit Controllers. “Getting help from a professional debt recovery business can be just what’s needed to get a a late invoice to the top of your customer’s to-do list. In this case we got full payment of the outstanding £40,000 debt within 10 working days of being instructed via our online service – CreditXS.”
The treatment of suppliers by big names such as Tesco, Diageo and Imbev has been under the spotlight, but small companies also experience problems collecting from other SMEs.
Sam White added: “This case demonstrates that late payment is not exclusively a problem of large household names trampling all over their small suppliers. A late payment is just as likely to come from a small or medium sized business.”
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