Whether you are a small business owner or a self employed individual you may find yourself trying to track down payment from a customer who has an outstanding invoice.
All outstanding invoices over 30 days have an immediate impact on your monthly cash flow. It is important at this stage to communicate regularly until the matter is resolved.
If the invoice is outstanding for 60 days then it should be treated as a debt. At this point a good deal of contact should have been made making the customer well aware of the debt. L R Collections Ltd services can be a very effective solution. Debt recovery agencies recover nearly £5billion every year in the UK.
Statistically, 90% of debt recovery cases are resolved with a legal letter that carefully encourages the customer to comply without reducing the chance of doing future business.
Commercial & Consumer Debt Recovery
Credit Control Services: We can provide you with an outsourced credit control service. We can even telephone customers or debtors in your company’s name if you prefer them to be unaware that you are employing a third party agency to collect your debts or manage your credit control.
Letter Before Action (LBA): Letters Before Action (late payment demands) are a cost-effective means of chasing any monies owed to you by any debtors, for example an unpaid invoice. They offer a method of securing debts before making a claim and initiating court proceedings.
Legal Action Debt Recovery
Credit Reports - We are able to provide credit checks on Limited and non-Limited companies, by email, fax or post.
Door Step Collections - We visit the debtor up to 2 times and we will keep you informed as to our progress at all stages.