It is your business judgement as to when to use a debt collector, but please be aware that the longer the debt remains unpaid the more likely it is never to be paid. Although we are able to accept debts up to six years old, we know from experience that the earlier we receive an instruction the greater the chances of success.
The right time for debt collection
If a payment is late we suggest that you contact your debtor immediately. If payment is still not received after that contact, you may have a problem. Be wary of ‘the cheque’s in the post’ or ‘we’ll pay you next week’ type excuses, which are an extremely common delaying tactic. It is your money and you are entitled to receive it on time.
Placing outstanding debts with us for collection demonstrates you are serious about your credit control and helps to protect your cashflow. Whatever the age or type of debt, we strongly recommend that you act as soon as possible to maximise the chances of an early and successful outcome.
If you are in doubt, call us - our advice is free.
For immediate action please call us on 0333 772 0278, or click here to contact us online