Look for early warning signs of bad debtors

Look for early warning signs of bad debtors!

Be alert to early warning signs that a customer may become a problem. If a key customer normally pays their invoices on time but payments have started to slide, it could be a sign that they are experiencing difficulties. Perhaps a customer has changed their name, is using a different bank, or requests a discount or breakdown of the invoice. All may be well and justified; but it might also indicate financial problems. For growing businesses it is especially important to check the credentials of key customers carefully at the outset and to monitor the relationship as it develops. Being forewarned gives you time to mitigate any risks of bad debt. Don’t assume that unpaid invoices are normal. You can’t prevent late payments in every situation, but you shouldn’t accept them as a natural part of doing business.

You need your money paid on time. Using our experience and full raft of legal tools, we can help you achieve it. Success means different things to different clients. So we make it our business to get to know yours – your customer base, how you operate and what’s important. By understanding your unique circumstances, we provide flexible solutions tailored to your requirements.

For further information about our debt recovery legal services please complete the request a call back form. Alternatively, you can call us on 03300 584 200 or speak to one of our partners directly.