Debt Recovery - Further Information

A positive cash flow is the lifeblood of any successful business. It is important to actively manage the debts that you are owed.

Choose Your Credit Account Customers Carefully

Use credit reference agencies or alternatively carry out County Court Judgement checks: do not give credit terms to those companies with poor credit records

Take Prompt Action

It is vitally important to monitor all credit account customers. At the first sign of default consider:

• insisting on cash payments for any further orders;
• taking personal guarantees from directors (if not already in place);
• speaking to your customers - chase the debt and set a clear final date for payment;
• taking back any goods you have supplied subject to a reservation of title agreement;
• instructing Actons to take prompt action to recover the debt.

How We Can Help:

(a) We can provide you with appropriate terms and conditions for your business, or check ones that you currently use and advise on any necessary changes;

(b) We can act promptly and cost effectively in suing customers who default - the sooner you instruct us, the more likely it is that we can recover the money you are owed. It may only take one letter.

(c) If a customer becomes insolvent we can help protect your interests by liaising with the liquidator.

For further information please contact Yvonne Thomas on 0115 9 100 200 or email enquiries@actons.co.uk.