It’s an unfortunate fact of business that some customers will stretch your credit to breaking point. There can be several reasons for this – their own cash flow is tight, so they’re ‘robbing Peter to pay Paul’; their systems are just not coping with which bills need paying and when; your invoice is wrong (and no-one has thought to tell you); they don’t understand your invoice (download our example of a good invoice here) or in a very, very few cases, the customer is simply trying to ignore their responsibilities to their suppliers.

The end result of any of these can be disastrous for your business: Businesses don’t go bust because they’re not profitable, but because they run out of money. And if your customers aren’t paying you, you will soon run out of money.

Often, firms are very reticent about chasing debts with their customers. Understandably, they don’t want to upset the people who at one point promised to give them some money in return for the goods or services supplied.

To help with this, we run a specialist debt recovery service. We understand that you want your customers to pay their bills, without feeling that you’ve paid someone to mug them. So we do everything we can to help maintain your relationship with your customers, while at the same time making it clear that they do need to pay what’s owed.

Fees for commercial debt recovery are added to your customers bill. It becomes their responsibility to pay these, in addition to the money they owe you. The initial step is to issue a Seven Day Notice (the eponymous “solicitors letter”), at a cost of just £60.

Our experience has shown that over 95% of the time, this is all that’s required for the customer to settle their bill in full. We’ve had examples where clients have been paid tens of thousands of pounds that they’d been waiting months for, just as a result of this simple first step. But don’t think this route is only for large debts – no debt is too small to pursue.

To talk through the options for commercial debt recovery, please call our office. Remember – all our discussions with you are confidential, and we never charge to talk through your options at an initial enquiry.