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Five signs you need a debt collection agency
Unpaid debts are not only frustrating, they can seriously affect the profitability and stability of your business. With so many other pressures on you and your team, debt collection can often go on the back burner. Unfortunately, the longer you leave things, the more risk there is of a debt…
VIEWWhen should a bad debt be written off?
Writing off a bad debt should always be a last resort for any business. It's not just the fact that your cash flow could be compromised and your bottom line will take a hit, it's also about protecting your reputation for good financial management. The last thing you want is…
VIEWThe cost of living crisis – it's time to take action on overdue debts
In a recent survey of business owners by commercial banking service Tide, over three quarters of respondents said that the cost of living crisis is having a negative impact on their businesses. In June, BDO's bi-monthly survey of 500 leaders of medium-sized businesses showed that almost a fifth believed that…
VIEWHow do debt collection agencies communicate with debtors?
Success in debt collection isn't just about being proactive and persistent. A good debt collection agency will also have proven communication skills. That means using every available channel to make contact with the debtor, resolve any issues and achieve prompt settlement of the debt. It also means communicating with diplomacy…
VIEWFive warning signs that a business is in financial trouble
Customer credit checks are useful. However, because they're usually based on historically filed financial data, they rarely give you an up-to-date picture. That's why it's important to keep a watchful eye on any customers who are late in settling their bills. This is particularly true in the current economic climate…
VIEWIs there a link between debt and cryptocurrency?
It may seem like something that doesn’t affect the real world, but did you know that over 60% of crypto investments are funded by conventional borrowing? That’s a lot of unsecured debt which could go bad, compromising many people’s finances and having a knock-on effect for all kinds of businesses. People…
VIEWCredit guidance for construction firms and contractors
Unfortunately, it’s an all-too-common occurrence in the construction industry, particularly for contractors and SME building firms. Fortunately, there are ways and means to expedite payment and keep your cash flow in good shape. And having a professional debt collection agency on your side can be a real asset to avoid…
VIEWHow to choose the right debt collection agency
Before you commit to using a debt collection agency, there are a few things to consider. It’s not just about ensuring you have the best chance of getting a positive outcome. It’s also about finding a company that’s cost-effective, easy to work with and reputable. Here are some important questions to…
VIEWTaking on a high-level challenge for charity
On 17-18 May, we’ll be taking part in the National Three Peaks Challenge, one of the UK’s most famous extreme trekking events. Our team will be raising money for the Royal National Children’s Springboard Foundation (RNCSF), the UK’s largest bursary charity that focuses on harnessing the power of educational opportunities…
VIEWProtect your profitability by collecting unpaid debts
Ask any business owner what keeps them up at night and money worries will probably be high on the list. That’s why it can be exasperating when a customer fails to pay for work you’ve completed or products you’ve supplied. In a tough economic climate with rising costs, cash flow and…
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