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Reminder Letters for Invoices – Part 1
Many companies are afraid in the current economic climate to chase their clients for money in fear they may lose them to a competitor. Please remember we are all working to make money and a good customer is a paying customer. If you have issued an invoice and one of...
Long Firm Fraud
The Kray Twins - Dead But Not Forgotten? Credit managers throughout the United Kingdom have reported that there has been an increase in “long firm” frauds in the last few months. This type of fraud was created by the Kray twins in the East End of London in the early...
10 Excuses for Non Payment & How To Deal With Them
It’s a fact that you will encounter almost everyday in any form of Credit Control a number of customers who will try an excuse to buy some time and hold on to their cash. A company has a legal obligation to meet its debts as they fall due. If they cannot they are...
5 Simple Credit Control Rules to Follow
This is something I am always banging about in my line of work. Many of your customers will prefer to do business on credit and most will likely insist that you extend credit terms. Under the best of circumstances, it’s unlikely that they’ll all pay on time. By...
Important Changes to Late Payment Legislation
The Late Payment of Commercial Debts (Interest) Act 1998 has been updated by the Late Payment of Commercial Debts Regulations 2013 which was adopted by England, Wales & Northern Ireland on 16th March 2013 and The Late Payment of Commercial Debts (Scotland)...