Let’s face it, late payments and the debt collection process can be quite stressful for any business, whether a sole trader, SME or a larger outfit. With a recent study confirming that SMEs in the UK are owed £14.2 billion in late payments, it is unlikely that the issue will be going away anytime soon. It’s worth remembering that … Read more 10 compelling reasons why you need Credit Control
Outstanding debts are the bane of many businesses, small, medium and large. Fortunately, you can avoid issues with debt recovery by avoiding these 7 horrible mistakes. 1. Not having a credit policy You must have a robust and clear credit policy in place before you provide goods or services and receive payment for them. A credit policy provides uniformity of … Read more 7 horrible mistakes you’re making with debt recovery
The television guide seems to be full of programs about bailiffs, debt collectors and sheriffs collecting what’s owed to their clients, but there’s a lot of dramatisation which probably makes debt recovery services look a lot more terrifying than they really are. We’ve taken the time to dispel some of the more common myths about debt recovery services: Myth 1: … Read more 14 common misconceptions about debt recovery
The biggest problem with debt recovery and how you can fix it The biggest problem with debt recovery is the time that it takes. Chasing debt is not something that any company should have to do. Unfortunately, because many businesses seem to have a policy of taking as much time as they can before paying you, this type of … Read more The biggest problem with debt recovery and how you can fix it
15 Steps to help prevent your tenant from falling into arrears The rental market in the UK is big business! Private landlords account for nearly a quarter of the rental housing stock and the figure is rising as the cost of home ownership increases. Landlords provide a valuable service which helps meet the needs of the country’s housing shortage. Some … Read more 15 Steps to help prevent your tenant from falling into arrears
The importance of good terms and conditions. The importance of properly constructed and thought through Terms and Conditions, legally framed, attached to any contract for goods or services cannot be overemphasised. Whatever type of business you are in; the most important thing for your business is obviously the number of sales being made. However, high on the list of … Read more The importance of good terms and conditions.
We’ve put together an easy guide for you to understand our debt recovery process and how First Captiol Collections proven techniques will help you to get your money back. STEP 1 – Debtor investigation… “know your Customer” is a fundamental business rule…so is “Know your Debtor”. Knowing who your debtor is enables us to assess our next move. We use … Read more Debt Recovery Process