What Makes the Debt Collection Perfect?

Unpaid bills pose a lot of problems. Most of all, entrepreneurs do not like to call and deal with their debtors. As a result, too little attention is paid to the collection of outstanding receivables. This is a mistake, especially for small businesses. Our collection experts will give you some advice on how best to collect your outstanding debt.

A common situation: the counterparty is in debt on the deal, filed a lawsuit – won, received the documents and handed over for execution. But after some time, the documents are returned due to the impossibility of execution. Is this legal and what to do in such a situation further. If you are not sure that you can be successful in the process, then make use of the debt collection agency nottingham service.

Call your customer and send a reminder

Despite your best efforts initially, the risk of an unpaid invoice will always be present. When it appears, it is important to act quickly. We advise you to call your customer first and ask why the payment has not yet been made and when you can receive it. When communicating with your customer, you often hear the real reason why the payment is being delayed. During this call, you can agree on when you should receive payment. It is important to always accompany phone calls with email to validate these agreements.

Are you worried about how to properly speak to your debtor? Read our tips for dealing with debtors here.

Still not paid despite your phone calls?

Then send a written reminder to your client to get paid. Specify in it clear terms of payment and bank details.

Transfer your case to a specialist

If payment is not made despite your best efforts, it is advisable to refer your case to a collection agency or lawyer. Don’t wait too long: the longer you wait, the less likely it is that payment will be received. Once your case has been handed over, our lawyers and debt collection specialists will start working immediately. We’re fast and make sure you still get what you are entitled to: bill payments. From the debt collectors nottingham you can find the right deals right there.

Other tips for reducing late payments:

Check out new customers

Before starting a business relationship, it is important to check your prospect’s creditworthiness. This way, you protect yourself from companies that are in poor financial position and may not be able to pay your bills. So make sure you always screen new customers thoroughly before you say yes.

Professional credit management

Proper credit management is also important to prevent late payments. Make sure you send invoices to your customers on time. In addition, it is important that your invoice contains the correct information in order to avoid misunderstandings regarding payment. This prevents late payment of bills. You also show that you have professional credit management.

Enforcement proceedings, i.e. collection process from the debtor, limited in time. According to the law, the total term includes:

The first 15 days – the deadline given to the debtor for the voluntary fulfillment of the requirements of the court order. The specific period is indicated in the decree on the initiation of enforcement proceedings and, as a rule, it is less – at the discretion of the bailiff;

The next 2 months – the maximum period for compulsory execution. At the same time, if there are grounds for this, the state executor can:

  • postpone or install by installments
  • postpone
  • suspend

 Then the time frames shift accordingly:

When taking measures to collect, the bailiff must keep the specified deadlines in mind. And if, for example, it was not possible to find property that can be foreclosed, and the terms are already running out, it is pointless to keep the documents with us further. In this case, the bailiff returns them to the claimant on the basis of  clause 3  of the first part.