How to deal with B2B debt collection

Many businesses like yours depend on payments for services and goods from both consumers and from other business clients. However it is a hard hitting fact that all too many business owners know not all clients make payments as they should, and more significantly, have agreed to. One distinct mistake that business owners can make is treating business to business debts (B2B) just as they would a consumer debt but this can cause a range of different issues which we will explain below.

Due to the very nature of B2B debts, there are numerous challenges which must be considered. Firstly, business to business debts are typically for much higher amounts than consumer debts which means that non-payments could dramatically impact on the bottom line of your business, and in some instances, could potentially hinder the success of your company overall.

In every instance, debt collection for B2B debts should not be taken lightly and the assistance from proven debt collection agencies such as Cobra Financial Solutions should be drawn upon to help recover the outstanding debts you are rightly owed.

Another significant fact which should also be considered is the idea that business debtors are more likely to be aware of the various techniques used to permanently evade debts when comparing B2B debts and consumers, especially when it comes to larger debts.

Also, if a business owner knows that they are going out of business or soon to be filing for liquidation and going bankrupt, it is possible that they may consciously delay payments while they sort out their other affairs behind closed doors.  If this is the case, as soon as the business is closed down, the likelihood of recovering the outstanding debts is little to none.

More often than not, consumer debts have a longer shelf life than B2B debts and in the majority of cases, using traditional consumer debt collection techniques is not deemed effective for B2B debt collections due to the actions taken by the debtor shutting down their business. With this in mind, utilising the skills of a consumer collection agency is not appropriate in the collection of your debts if you are solely dealing with business to business scenarios.

If you are a business owner in the UK and are awaiting outstanding payments from another company, you may well know that the road to collecting debt can sometimes be difficult, especially if the other company is au fait with how to avoid repaying debts that they owe. If this is the case, your attention should be focused on running your business, not on painstakingly chasing other businesses for payment, day after day. For this reason, you shouldn’t delay in getting in touch with our dedicated team of debt collection agents, who will pursue payment of business to business debt on your behalf.

With many years of experience in the debt collection industry, Cobra Financial Solutions deliver a wide range of debt collection services to businesses across the United Kingdom, providing peace of mind that everything is being done to recover outstanding debts owed to you. When your own staff have become disheartened and feel like nothing else can be done- this is when we can help. Even better, get in touch with us as soon as you feel something may be wrong and we can work collaboratively with you to provide the best solution to your individual needs. With professional, persuasive and determined debt collectors across the whole of the UK, Cobra Financial Solutions are the number #1 choice when it comes to B2B debt collections. Get in touch today by calling 0151 526 4222 (Northern office) or 0203 011 5210 (Southern office) for more information, we’ll be happy to help.