Search results
Test
Your search for "" found 274 results.
What makes business to business debt collection different?
However careful you are about checks and controls, trading with other businesses on a credit basis relies on goodwill and always carries a certain amount of risk. So, what if the worst happens and one of your customers defaults on a debt? The good news is that there are several…
VIEWHow debt default can impact an individual's credit score copy
Here's the scenario: you've supplied goods or services to an individual on credit terms. Despite a string of reminder letters and phone calls, you're struggling to get paid the money you're owed. Therefore, you enlist the help of a professional debt collection agency, who then contact the debtor directly to…
VIEWWill chasing a debt affect my reputation?
In today's world, maintaining a good reputation is vital to the success of your business. Word can spread on social media at lightning speed and your brand integrity can be trashed before you've had a chance to exercise your right to respond. That means it's more important than ever to protect…
VIEWWhat is the smallest debt a collection agency can chase?
In some cases, you may decide it's simply not financially viable to pursue a low-balance debt, particularly as many debt collection agencies will charge a set handling fee for debts under a certain amount. However, in other cases it can be a matter of principle rather than straightforward economics.The key…
VIEWWhat if a debt is overdue and I don't have a written contract?
Obviously, it's not an ideal situation. However, the simple fact that the customer didn't sign anything isn't a valid excuse for them not to pay up.What's the legal situation?While a signed contract is the most robust form of agreement, other types of agreements can also hold legal weight:Written Agreement: Communication…
VIEWWhat can I do if a retention isn't paid?
How does retention work? A retention payment is an amount of money due to a sub-contractor (usually between 1.5% and 5% of the total bill) that's held back until a job is complete. It acts as a kind of security deposit, ensuring that the project works will be fully completed, and…
VIEWAs an energy supplier, what can we do about overdue customer debts?
The current energy crisis is not just a worrying time for those faced with rapidly rising bills. It's also a challenge for energy suppliers, who inevitably will be dealing with a large number of individuals and businesses at risk of defaulting on their bill payments. With the whole country under pressure…
VIEWFive 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…
VIEW