Debt. It is the bugbear of most businesses. If you are owed money it can be time consuming and difficult to know how to get that money from your client without losing future business or destroying your professional relationship. When you have reached the end of the road in terms of reminders, letters and phone calls – your only option may be to call in professionals to take over the process.
What you need is a professional approach that appreciates the importance of maintaining a professional distance from the situation when negotiating payment. We pride ourselves on our ability to stay well informed on any changes to legislation so theres no comeback in terms of how our team collects your money – after all it’s crucial when it comes to the way we run our business.
Our clients also need to do their bit. We believe that our clients need to take the issue of bad debt seriously and that should be reflected in their company literature. It is difficult as a business to be taken seriously and to get a minimal bad debt result if your customer take-on procedure is out of date, and your Terms and Conditions are open to interpretation and not watertight.
This issue came to the forefront recently when we were challenged by a veterinary customer (an outstanding debtor) on the validity of our client’s Terms & Conditions, we listened to what the customer had to say and quickly came to the conclusion, he had a point. On further investigation it turned out that they were not legally valid.
We helped our client by recommending Greg Bullock from Else Solicitors LLP who specialises in preparing Terms and Conditions that take into account the collection of unpaid invoices. In this case, there were some grey areas that needed to be ironed out to ensure that there was no room left for misinterpretation.
The information given to the client was friendly, helpful and jargon-free. The Practice Manager said that she felt that Greg really knew his stuff and was able to supply them with a comprehensive set of T&Cs that will prevent any future debt issues (as well as in general terms).
Our client was especially happy because we are able to negotiate a discount to DSL customers when they use Else Solicitors LLP. This made the whole process especially easy and worthwhile.
Our aim with all of our clients is to make sure that the process of debt recovery runs smoothly and is issue free. By helping you with your Terms and Conditions, we will streamline the process and highlight the relevant points to your customers before issues rear their head. That makes our job easier when it comes to collection time.
Comprehensive and water tight T&Cs may mean that you need us less often – but that is just the price of being helpful!
Get help with managing your business’ debtors – fill out the form on the right and we’ll call you back.
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