WHAT WE DO
What Is Debt Recovery?
Debt collection has rarely been as important for small businesses as it is today. As an increasing number of customers and clients default on payments, businesses have to resort to ever more drastic methods to ensure they receive their cash.
There are a variety of means by which businesses can attempt to collect debts. Much of the work can be done in-house, as a reminder letter is frequently all that is needed to make a client pay up. However, in more severe circumstances you may have to consider taking further action.
When is a payment considered late?
Most business sectors have standard, established payment terms. For example, invoices might be expected to be settled within 45 days of the date on which they are received. Some companies give their clients up to 60 days to settle their accounts.
However, in cases in which there is no written agreement concerning the payment period, a payment is considered to be late under law when the invoice has aged for 30 days, or when 30 days have elapsed after the date of the delivery of goods – whichever is later.
It is perfectly legal to set a payment term shorter than 30 days, but this must be agreed upon in advance. For example, many companies insist on payment on delivery of goods or services. But, regardless of the payment terms you set, you cannot take any further action to get your invoices settled until the agreed payment period has expired.
However, if you are trying to recover a fairly large invoice, you might consider hiring a debt collection agency.
Professional debt collection services
Debt collection agencies can be a quick method of recovering your cash. By our nature debt collection agencies hold more authority when contacting your client than you, and the nature of having a debt collection agency will be enough to get all but the most intransigent customers to pay up.
Are we right for you?
We take on all types of businesses, small or large, no matter how much is owed to you. We take on Business to Business clients, including: Corporate, Commercial, Trade, Construction, Car Rentals and more.
If you have supplied a service to another business and have not yet been paid by this company, then we are right for you.
We keep your business at the forefront when handling your clients to maintain a healthy relationship once we have recovered your unpaid debt that leaves no amnesty moving forward.
Your customer or business may:
but whatever the reason, we maintain a professional service and identify the reason. We never use forceful tactics that could harm your client relationship, after all, you want to continue your business with your client once you have received your unpaid debt.