Insights on Debt Collection

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.

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.

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.

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.

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.

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.

This guide helps businesses identify early warning signs of bad debts, such as late payments, poor excuses, and adverse news about customers. It stresses the importance of regular credit checks, maintaining communication, and acting quickly when financial risks are detected.

This article explains the six-year limit under the Limitation Act 1980 for issuing invoices and collecting debts. It advises on handling late invoices, including communication with customers and maintaining proper documentation, and discusses when late payment interest may be applied.

The piece explains that invoices are valid for six years under the Limitation Act 1980, provided regular contact has been maintained with the debtor. It highlights the importance of documentation and clear communication when pursuing older debts.

This article explains what to expect if contacted about a debt. It emphasises the importance of maintaining communication, outlines how disputes can be resolved, and offers repayment options for those experiencing financial difficulties.

This article focuses on the importance of effective credit control for maintaining cash flow and avoiding bad debts. It covers best practices for chasing overdue invoices, managing credit terms, and resolving disputes, while emphasising the benefits of outsourcing credit control.

This article explains how credit management supports cash flow optimisation, minimises financial risks, and fosters customer relationships. It highlights its role in improving profitability and supporting business growth, making it a vital component of successful business operations.

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.

Debt collection ensures unpaid invoices are resolved through structured, professional processes.