The question to ask: Are your customers Paying Late?
Has your bad debt reached Record High?
The value of bad debts held by Spain’s banks in July rose to 169.3bn euros ($221bn; £136bn), according to latest figures from the central bank.
The Bank of Spain said 9.9% of banks’ total loans were in arrears, up from 9.4% a month before.
It was the highest bad loan ratio since the central bank began compiling the data in 1962.
Now that was the basis of this article, now onward to the fundamentals:
We all know Cash is King: we also know keeping our borrowing costs down improves the bottom line; we all look for those areas where small improvements can be made and contribute towards extra profit, and Yes that helps.
However: There is one solution that delivers more profit than most others ever will
Being Paid on Time is a great way to increase your bottom line and keep your borrowing costs down.
The team at Debt Solve are experts in effective credit control and overdue invoice collection.
How much will it Cost?
Difficult to say until we speak to you, see our website www.dsluk.net for current testimonials from satisfied customers. I am certain reduced borrowing costs will offset the cost of a good quality credit control and invoice collection team.
Why not give us a call on 01527 543672 or contact us via email at mike.brooks@debtsolveuk.biz to see how we can improve your bottom line.
To catch the full Spanish bank storey go to:
https://www.bbc.co.uk/news/business-19633964
