James Salmon, 1st June 2017
Hauling in the debts
A Haulage company on the south coast passed us almost 20 debts last week to chase. They logged in to report 7 as being paid in full today so I went and had a closer look. After only one week all but 5 have been resolved and our member now has around £6k in their bank that they didn’t have last week. The debts range from less than £40 to several thousand pounds each. We will chase each and every debt with the same professionalism as part of the annual subscription.
Apologies
that was just one member of the last two days out of the hundreds who have used the service and I could write more but I am afraid time has caught up with me. Sorry there was no blog yesterday. I had a day off over the half term holidays to take my family out. While out my friends were able to persuade me to sign up for a half Marathon in September (The Ealing Half Marathon) so you can expect lots of running analogies over the next couple of months as I prepare.
Pain in Spain
When it comes to training for a race, you can’t leave it to the last minute, preparation is key, you need to start the work early. And that applies to credit management too. I was speaking to someone who was owed money by a man who was operating a business out of a virtual office and living in Spain. The problem was they didn’t know where. If they can’t trace him – and it doesn’t look good – then they are facing a write off.We cannot emphasise enough the importance of knowing who your client is before you start to trade. Use our credit analysis form and find out all their contact info and home address. Take out a status report to determine the businesses credit worthiness. Put in place those early steps and you can avoid most of the pain when it comes to getting paid. It’s no guarantee that your debtor won’t do a runner or go insolvent but it will dramatically reduce the odds and it will give you a much more stable footing.
Previous Case Studies
CPA news 30/5/2017
Credit Management that works
How to get paid – the CPA way.
Debt collection strategies pay off for CPA members
CPA Successes 23rd May 2017
CPA Successes 22nd May 2017
Another debtor pays in full.
Another CPA Success