5 things you should do when a customer won’t pay!
Chasing unpaid invoices is a very timely chore and the indirect cost of such tasks are never accounted for. When you have a customer that does not want to pay, It is all too easy for frustrations to boil over. The reality of the situation is that it really does pay to keep composed and apply some business logic to achieve a successful outcome.
Quite often, you are too focused on trying to bring new business in and the ‘do not want to pay’ brigade can sometimes slip anyway. If is never a good idea to write off unpaid invoices or overdue accounts for that matter, there is always a way.
Everyday we receive calls from frustrated small business and SME owners perplexed with other companies and individuals who are just dragging their heels when it comes to payment.
We thought it a idea to put together a quick 5 top tips for dealing with customers who do not pay.
- Credit control – Ensure you have a solid in house credit control procedure. This will minimise the ‘non payers’
- Remain composed – Easy to lose your temper when somebody is not paying you for works/goods you have provided in good faith.
- Never write the debt off – Regardless of the amount, it pays to stay on top of the situation and reclaim money that is quite rightfully yours.
- Send a letter before action – Sending a letter before action can make sure your customer is aware that you are serious about getting paid.
- Call Federal Management – This will save you time and money! – Let the experts help. Its what we do and are very very good at it. Our success has been built on recovering debts for the past 13 years and we know what we are talking about We will give you a free appraisal of the situation and advise if we can help along with the realistic probability of a full recovery.
The business of recovering debt far more complex than people think. We have developed strategies and procedures that are guaranteed to maximise the potential of a successful collection.
Let us take the strain, we are the Professionals used by the Professionals. Chasing unpaid debts is a negative aspect and does nothing for a positive mindset that is needed to grow.
You do not pay us per action or by the hour, we only charge for our successes. It is that simple and the reason why our services are used by some of the biggest…. and smallest names in the UK Business world.
Do something positive today, start now and speak to our friendly New Business advisers by calling us on 0333 043 4420