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How Do I Assess The Effectiveness Of My Third-Party Collection Agency or Lawyers

Written by: Charles Wilson - Lovetts Solicitors, Chairman

The many advantages of using a third party collection agency or law firm to recover debt have been well documented over the years, and although there are also some benefits to having an in-house collections team, more and more companies are using third parties today than ever before.

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The New Pre-Action Protocol For Debt Claims - What Is It? And How Will It Affect My Business?

As many of you will no doubt already be aware, the Ministry of Justice has released a new Pre-Action Protocol for Debt Claims that comes into effect on October 1st, 2017.

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Offering Credit & Managing Risk - A Balancing Act

There comes a time in the life of all businesses where they have to look at the possibility of developing a credit policy, and ask themselves if they are going to offer credit to other businesses.

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Debt Reminder Letters - The Best Approach

If you consider yourself the kind of business that dreads having to deal with customers or clients who have an outstanding account or an unpaid bill that needs collecting, trust me, you’re not alone.

No one likes to risk destroying customer goodwill by having to demand payment, but in many cases, there is no other option.

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6 Considerations You Should Make When Filing a Debt Claim

You get to the end of your credit control procedure and you still have some unpaid accounts, so, what are the options?

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Could A Winding Up Petition Help Your Business To Recover Debts?

As any company knows, late payments can have a devastating effect on operational functions. Whilst businesses must receive payment in full in order to remain profitable, they must also receive the funds in a timely manner to ensure that they can continue to operate.

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Debt Recovery For SMEs

While no business can benefit from late payments, a delay in incoming revenue can be disastrous for small or medium sized companies. With many SMEs relying on continuous cashflow, unpaid debts can affect the operation of the business as a whole.

As many SMEs don’t have the capacity to employ in-house debt recovery experts, they can find it difficult

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The Debt Recovery Problems Faced By Recruitment Agencies

Recruitment agencies can suffer from the actions of those clients who try to avoid paying their invoices on-time or at all. Here are four factors you may experience. 

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Why Draft-Winding Up Petitions Work So Well

Usually when a company owes a debt, their creditor can file court proceedings against them in the hope that they will pay – and use a method of enforcement to recover the money if not. However some circumstances, such as a debtor refusing to engage, make this method of debt recovery an unsuitable option. This is where strong action is needed: A Draft Winding Up Petition (WUP)

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BREXIT and Business Debt Collection and Recovery

On March 29, 2017, Prime Minister Theresa May invoked Article 50 (Treaty of Lisbon) to begin the UK's formal process of exiting the European Union. To date, the UK will be the first EU country to secede from the European Union. Under the treaty, any country may leave the European Union, but the exit negotiation process may take up to two years.

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4 Tips For Hiring A Debt Recovery Firm

It happens in every business and in every industry - debt recovery. Clients and customers pay invoices late and even former employees might fail to pay back overpayments to them. You’ve called. You’ve emailed. You’ve sent letters through the post. Nothing works. It’s at this point that businesses should begin considering turning to a debt collection firm.

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How a Good Debt Collection Partner Will Grow Your Business

Running a business involves overseeing diverse business operations, including sales, marketing, HR and benefits, accounting, customer service, risk management, and business development.

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