Your business shouldn’t suffer through becoming what’s effectively an unpaid overdraft facility for your non-paying clients.
Trident Legal Services offer a range of Credit Control & Debt Collection services for business clients to help them improve cashflow, deal with late payments & persistent debtors and even reduce the chances of the problem happening again in the future.
According to the Federation of Small Businesses, 50,000 businesses a year fail because of late payments. That’s an astonishing cost of £2.5 Billion to the UK Economy.
Collecting your overdue accounts and getting you the money your business is legitimately owed is the cornerstone of what we do. Talk to us for exact details, but essentially, if we’re successful, you’ll pay a small percentage commission of the money recovered. Simple as that. If we’re unsuccessful, you’ll pay nothing (other than any agreed Court Fees). We’ll add Court-approved statutory late payment fees and reasonable costs associated with debt recovery onto the outstanding amount which we collect from the debtor as part of our fee. But so long as the debtor pays in full, the result for your business is the overwhelming bulk of the overdue amount which should make your Bank Manager & Accountant much happier.
Who Are You Dealing With?
Many people make the mistake of assuming that they are dealing with an individual when in fact they are dealing with a limited company. This can have dire consequences especially if the limited company has several CCJ’s and no assets – huge sums of money are frequently lost like this. Ask us how we can help you put systems, policies & procedures in place to help protect against poor credit decisions.
Call us now for details 0151 229 1071
Terms & Conditions
Your terms and conditions are important! Most people only find out just how important when they’re standing in front of a Judge. If you haven’t sent your terms and conditions to your customer, you could find out that you are working under their terms and conditions. How can this affect you?
What if their payment terms are 120 days?
- Can you wait that long for payment?
What if they go into liquidation and their terms state that once the goods are delivered then they hold good title?
- Which means not only do you not get paid, but you can’t get your goods back either!
Poor credit management can often cause the failure of an otherwise good company. The fact is that most businesses are unaware of the effect of poor credit management until a ‘trusted customer’ pulls a ‘fast one’ on them. Basic mistakes include assuming that an invoice is proof of debt – it isn’t.
Failing to get delivery notes or satisfaction notes signed
Failing to get written authority for the work or purchase orders
- how can you prove your debt?
Our credit management consultancy service will cover all the things that you need to be doing and we can even provide you with all the documentation required.