You’ve done the work. Make sure you get paid for it.
This credit management and debt collection service, for business to business debts, is offered by an experienced local company and takes away the hassle of dealing with poor payers. For debts up to £3000 there is no cost to you.
- Improve your cash flow
- Reduce late payment
- Mitigate bad debt
- Free up valuable staff time
- Keep control with online monitoring 24/7
- Save the normal £200 registration fee.
For more information call us on 08455 240 240.
For FAQs about the service, please click here
How to use the service:
- Debt collection is used to recover late debts up to £3000 at NO COST to you. For amounts recovered over £3000 a rate of 2% of the invoice value is charged to you and the debtor is charged the remainder of the fees (as per the Late Payment of Commercial Debts (Interest) Act 1998)
- Conventional debt recovery is where the vendor, not the buyer pays the costs. A commission payment of 5% is made on debts of up to 150 days, 7.5% on 151-300 days and 10% on 300 days plus. Alternatively a fixed charge of 8% on all debts recovered can be arranged.
- If there’s no recovery, there’s no fee. Credit verification in advance of fulfilling orders. Members have direct online access to a range of credit reports. There are four levels of report available from the most basic, providing standard credit rating, increasing in terms of corporate detail, up to the most forensic credit audit.
- Every credit report has a point value 1 and 4. For every debt collected members earns one credit report point. This means that if 10 debts per month are collected, 10 credit reports can be obtained free of charge. Unused credits are carried forward. Usually clients have a greater need for debt recovery than credit reports, resulting in no cost for the latter.
- If the credit report requirement is higher than the number of debts forwarded for collection, points can be purchased in advance at various discounted rates. A statement of the use and credits of points is issued monthly. This system enables flexibility in selecting the level of report required for a given situation, whilst remaining cost effective.