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York Debt Collection


York Debt Collection

Have you had a customer who has refused to pay your invoice? Don’t just write the debt off, chase them. Using a York debt collection firm will help you reclaim what is rightfully yours.

Often, a simple letter from a debt collecting agency threatening the very prospect of often expensive legal action will make the company seriously consider settling up there and then simply to avoid this course of action. If not, and the debt is under £5,000, then you are able to take the matter to the small claims court for around £200. If the decision goes in your favour, then the other party has 28 days in which to settle the debt or you are able to take further action through a debt collection agency.

Statistically, you are more likely to encounter a company who cannot, or will not pay their bills when due within the first handful of transactions you have with them. Therefore, why not think about placing new customers on different payment terms to your more established clientele? Maybe ask for full payment in advance, 50% in advance or a reduction in payment days for the first five transactions.

When you set a credit limit for a new customer, this should always reflect the fact that they are indeed a new customer. A view should be taken aswell based on whether you can get a reference from some of their existing suppliers and whether they are a big, established company or a company you have never heard of before.

Bare in mind though, large established companies can sometimes be poor payers and a company that you may never heard of and were not sure about how much credit to grant them may well be excellent payers. Sometimes the bigger they are the harder it can be to get your money from them as they have an extensive chain of command where invoices must be approved and then separately authorised for payment.

For your complete guide to debt collection services in York, you need to look no further than Artful Lodger York.
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