What to do if you suffer from Slow Payers
It’s quite common in the UK for businesses to suffer from slow payers from time to time. And while this usually doesn’t present a major issue, if it happens regularly or with a number of clients, it really isn’t acceptable. Let’s face it, when it comes to the crunch, what company hasn’t ever had cash flow issues at some point in time. That said why should your business suffer as a result?
It’s obvious that if your credit terms are 30 days but 10% of your clients don’t pay until day 90 your profit will be affected as a result. You’ll naturally want this improving as soon as possible but you don’t want to lose the customers either, so what are the options available to you in such circumstances?
- You go with the flow, keep your head down and don’t upset the applecart
- Your boss calls their boss
- You send a series of letters
- You threaten legal action
- You instruct a solicitor
- You issue legal proceedings
- You instruct a professional Debt Collection Agency
As experienced and very successful debt collectors, Cobra Financial Solutions recommend engaging with a specialist debt collection agency to help recover your outstanding debts rather than trying to tackle the issue yourself. But why you may ask?
The reason for this is that a Debt Collection Agency such as Cobra Financial Solutions is the most versatile option of all of them. Legal options can be a little excessive for a 90 day debt, and more significantly can be a very expensive route to go down while sending a series of letters getting tougher on every one, just gives your customer a bit of breathing space. You want action now and we understand that.
This is exactly why sourcing a reputable debt collection agency like Cobra Financial Solutions is a wise move. Firstly, we’ve got many years of experience in the debt collection industry with a wealth of commercial clients who’ve benefitted from our extensive range of services. We’ve also got real testimonials from happy clients to prove it! However, most importantly, we pride ourselves on ethical debt collection across the UK and do not use aggressive tactics.
Over the years we’ve found that the presence of a 3rd party debt collection agency is usually enough to ensure a promise of payment in a swift timeframe. Modern day debt collection is a sophisticated and professional business and bears no resemblance to the “old time” image of burly menacing men. And while there are still some ‘’old time’’ debt collection agencies out there, if you are looking for professional, persuasive and proven debt collectors look no further than Cobra Financial Solutions.
Operating across the whole of the United Kingdom, Cobra Financial Solutions have both a Northern office based in Merseyside and a Southern Office based in London meaning we are able to deliver flexible solutions wherever you are based. So, if you are experiencing a flurry of slow payers, or even just the one slow playing customer, do not delay, get in touch with our team of experienced debt collection agents who will be happy to assist you in recovering what is rightfully yours.