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Why Even Sole Traders Can Benefit From Debt Collection Agencies
Sole traders are often too busy or lack the resources needed to chase late payments and recover debts, which is why hiring a debt collection agency to take care of debt recovery can be a great time and money saver. While most businesses and individuals will honour their payment commitments, a small minority will either…
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How To Protect Your Business From Volatile Start-ups
While we’re not suggesting that every start up company is going to end up owing you money, dealing with a new business requires a certain amount of caution. One thing you probably will get from a start up is a good deal. The owners are likely to be falling over themselves in their eagerness to…
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Want To Avoid Disputes? Always Include Your Payment Terms!
The biggest cause of disputes over payments relate to payment terms that are either unclear or they weren’t visible at all during the sales process. Even the smallest details can give customers the opportunity to wriggle out of their payment obligations or delay making those payments. Common mistakes include failing to add payment deadlines to…
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UK Suffers A Festive Debt Hangover
Christmas on the credit card is seen as the main reason why many British people will be feeling the pinch in 2017. A survey by uSwitch found that 85% of people will be paying off credit card debts in the New Year. This could lead to people being more conservative about their spending as they…
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How To Increase Your Christmas Cash Flow
December can be a difficult month for businesses, particularly when those businesses are shut down over the Christmas period. If cashflow is an issue, then it is usually the end of the year when the effects are being felt most keenly. So what can be done to make this Christmas a little easier? The most…
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HMRC Are Rated Worst For Debt Collection
Citizens Advice have rated HMRC the worst organisation for debt collection in its league table of debt recovery best practice. The league table title ‘The State of Debt Collection’ measures how well organisations compare in their debt recovery practices including how they make themselves available for enquiries and overall treatment of people who find themselves…
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NHS Recruiting Debt Collection Teams To Prevent Health Tourism
The NHS isn’t an organisation normally associated with debt recovery, but recent news headlines suggest it is attempting to recover more cash from what are referred to as health tourists. News that health tourists are getting away without paying in many cases is likely to add fuel to the problems already facing the NHS when…
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500,000 Loans Written off Following Debt Collection Failings
News that 500,000 Loans have been written off due to failings in collection proceedings should act as a warning to businesses who don’t play by the rules on debt collection. The startling figure relates to car loans and pay day loans which were sold onto a debt recovery firm which didn’t stick to the correct…
