If the small firm has been doing jobs or delivering equipment to the larger firm for some time, perhaps years, the likelihood of a late settlement now and again might be fairly high, after all we all make mistakes don’t we? However in the current financial climate, the small firm might need completions promptly [...]

Continue reading " The Pros And Cons Of Debt Collection Strategies Available To A Small Firm Which Is Chasing An Unpaid Bill With A Larger Firm. "

If a small company is looking to gain experience in Debt Collection this might be for a variety of reasons. They might be short of revenue and need to get the latest bill sent to the large company paid at the best value price. While they might have had bad debts in the past and [...]

Continue reading " Is Gaining Experience In Debt Collection Worth The Trouble For A Small Organisation Awaiting Payment Of An Invoice For The Last Jobs Done For A Large Organisation? "

The Late Payment of Commercial Debts (Interest) Act 2002 is described on the Office of Public Sector Information UK government website as “An Act to make provision with respect to interest on the late payment of certain debts arising under commercial contracts for the supply of goods or services; and for connected purposes.” The act [...]

Continue reading " Making Use Of The Late Payment Of Commercial Debts Act For Debt Collection From A Valued Customer. "

In situations where a small company has provided services or items to a larger company over a long period of time and has been paid without trouble in the past, it might come as a major problem when the latest invoice goes beyond the final payment date. The small company might be thinking about [...]

Continue reading " Debt Collection Tactics For Small Companies That Have Accounts Outstanding With Larger Companies. "

In the vast majority of times the first move that a creditor should take when an invoice is unsettled after the accepted credit period is to get in touch with the debtor, by way of a phone call, personal visit or non-threatening letter. If any of these approaches do not make the debtor pay [...]

Continue reading " When A Direct Contact Fails To Obtain Settlement For An Overdue Bill, What Can The Creditor Do Next? "

In normal circumstances a company will ask for an invoice to be settled in the month after the invoice date but this must be specified in the contract and agreed by both parties, in writing. In the absence of such an agreement then in the event of dispute the law specifies 30 days from the [...]

Continue reading " How To Keep A Customer Who Is A Late Payer Without Losing The Payment Of The Last Debt. "

There can be no coincidence about the rise in the number of Debt Collection agencies and the effect the current financial downturn is having on not only members of the public but also firms of any size, but particularly small ones. The financial downturn coupled to the fact that the financial institutions are still [...]

Continue reading " With The Financial Climate Debt Collection Agencies Seems To Have Multiplied At An Alarming Rate, But Are They The Best Debt Collection Choice ? "