Have you taken stock of how many invoices you have outstanding recently, and how old the invoices are?
Many businesses can have quite a shock at how much money they are owed in uncollected invoices but cannot commit the time to chasing them whilst meeting other business demands.
Credit Control systems can take time to put in place and monitor effectively, but without them, you may be allowing money owed to your business to simply disappear. Debt collectors are often ineffective as their letters are either ignored (as people realise that they rarely follow up with a court claim); or result in a breakdown of relationship with a client who may have provided further work.
If you feel that things are starting to spiral out of control in relation to your debt recovery procedures, why not speak to one of our experts at Legal Studio who will be happy to discuss any book debts with you and provide advice on credit control from a legal perspective going forward.
Please contact Aby Smith for further information at firstname.lastname@example.org or 0113 357 3207.