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There are a special few, like those at Credit Limits International Ltd (CLI), leading debt recovery agency in Kent<\/a>, who genuinely enjoy collecting debts. For most people, Debt Recovery is not a regular pastime and many find it awkward and cumbersome to chase debts, often worrying about losing their customers.<\/p>\n In our opinion prompt payment is paramount and Debt Collection<\/a> activities must be undertaken timeously. Debt Collection requires the same amount of dedication, time and effort from companies than sales & marketing.<\/p>\n Many viable companies go out of business because of cashflow problems. Poor cashflow is the result of weak systems when it comes to Credit Control and Debt Collection within an organisation.<\/p>\n If you don\u2019t have time to do this yourself, why not let a Debt Collection Agency do the hard slog for you?<\/p>\n Using a Debt Recovery Agency to chase your invoices for payment has a significant impact and sends out a professional message to your customer: \u201cwe have completed our part of the deal and we (quite rightly) want to be paid for the goods or services that we provided you with\u201d.<\/p>\n Debt Recovery Agencies have an unfair advantage when collecting monies owed to companies: this is why they Collect Debts faster than you can; it\u2019s called the \u201cThird party effect\u201d.<\/p>\n <\/p>\n Using a third-party Debt Collection Agency will boost your image and your name: no one can object to a company taking appropriate steps to get paid promptly. It is professional to do so. The Debt Collection Agency<\/a> can flush out any bogus reason as to why payment has not been made and handle queries so they are resolved promptly enabling payment to be made.<\/p>\n <\/p>\n Allowing a third-party debt Collection Agency to field your customer\u2019s issues can mean that you maintain your relationship with your customer whilst we collect your cash at the same time. It\u2019s a \u201cwin- win\u201d situation for everybody. <\/p>\n You want to concentrate on making sure that your clients are happy clients and focus on your sales and marketing which keeps your business running smoothly. Why would you want to be distracted from your core business activities by collecting your overdue invoices? This only contributes to confrontation and puts a negative stance on the management of your client relationship.<\/p>\n <\/p>\n If you are a nuclear physicist, a car mechanic, or even a marine biologist, you know that your work requires a certain skill set to be carried out successfully. Being a debt collector is no different: it requires very specific skills and expertise.<\/p>\n You need a thick skin, you need to be a good listener but also a tenacious negotiator, and you need to have the appropriate tools and technology to be successful. Why not give the work to a third-party Debt Collection Agency who is better equipped and less emotional when it comes to collecting unpaid invoices from your customers?<\/p>\n <\/p>\n Setting up your own internal debt collection team, systems and processes can be fairly costly. It\u2019s no good trying to set up an in-house Debt Recovery department: you will not benefit from the magic of the third-party effect. After your regular Credit Control activities, unless you want to immediately go to the County Court yourself, you will need to employ a Debt Collection Service provider.<\/p>\n Debt Collection Agencies should always take on our debt collection cases on a \u201cNo Collection, No Fee\u201d basis, meaning that if they don\u2019t collect you don\u2019t have anything to pay; And if they do collect, they can usually add late payment charges to the debt (according to the late payment legislation or to your T&Cs) and this will go a long way towards compensating for the cost of using their services.<\/p>\n Debt Collection Agencies usually invest a lot of money in technology that aids speedy recovery of your debts. When they take on a debt, they use all the tools in the box and tailor the Debt Collection process for your specific taking into account a wide number of factors.<\/p>\n Finally, CLI believes that all UK companies should sign to the Prompt Payment Code. Register today to the Prompt Payment Code<\/a>. If, as a company, you expect to get paid on time, you should also commit to paying your suppliers on time. CLI is one of the signatories to the Prompt Payment Code and is always keen to promote timely payment.<\/p>\n <\/p>\n CLI specialises in debt collection<\/a> and international debt collection<\/a> and international letter before action<\/a> services.<\/p>\n <\/p>\n [\/et_pb_text][et_pb_post_nav in_same_term=”off” prev_text=”Previous article” next_text=”Next article” _builder_version=”3.0.90″ title_font=”|700|||||||” custom_padding=”5px|5px|5px|5px” border_radii=”on|36px|36px|36px|36px” border_width_all=”2px” border_color_all=”#2a4984″][\/et_pb_post_nav][\/et_pb_column_inner][\/et_pb_row_inner][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_sidebar area=”sidebar-1″ _builder_version=”3.0.89″][\/et_pb_sidebar][et_pb_text _builder_version=”3.27.4″ text_font=”|700|||||||” text_font_size=”19px” text_line_height=”1em” header_text_align=”left” background_color=”#284682″ background_layout=”dark” border_width_all=”10px” border_color_all=”#284682″ border_style_all=”solid” use_border_color=”on” border_color=”#284682″ border_width=”10px” saved_tabs=”all”]Twitter Download<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”3.27.4″]<\/p>\n<\/h2>\n
Increase your Cash Flow<\/h2>\n
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The right message sent by a team of professional debt collectors<\/h2>\n
Increase business credibility<\/h2>\n
Maintain a good relationship with your customers<\/h2>\n
Letting your customers know from the start of the business relationship that you use a third-party Debt Collection Agency to collect your overdue invoices sets a professional tone from the outset and lets them know that fair treatment is a 2-way process. This could be mentioned in your T&Cs for example.<\/p>\nFocus on doing business<\/h2>\n
Leave it to the professionals<\/h2>\n
Save Money<\/h2>\n
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