The added weight of a collections agency – Crash Bang Wallop
A common complaint that we hear all too often is that a customer keeps promising payment but, weeks later, you are still waiting for the payment to materialise.
At least in these circumstances there is some dialogue, however. What is becoming increasingly common in the current climate is the silent treatment, with endless phone calls and emails going unanswered and no resolution in sight.
Crash Bang Wallop Accident Repair, a vehicle repairs and servicing company, couldn’t get through to one of its customers regarding an unpaid invoice worth more than £1,000.
Proprietor, Chris Williams, had spent hours on hold and, despite sending several emails disclosing his intention to refer the debt to a commercial debt collection agency should the invoice continue to go unpaid, he still couldn’t get a response or explanation for the delay.
Often, however, the sheer presence of a debt collection agency is suffice to persuade the customer to pay up. Indeed, after Mr Williams passed the debt over to Hilton-Baird Collection Services, it wasn’t long before the cheque arrived.
Our collections team experienced similar problems over the phone, being put on hold for more than three hours in one instance. However, armed with a detailed knowledge of the situation as well as with the potential consequences of non-payment, the customer had an extra motivation to settle the invoice promptly.
Especially for newly established businesses, when every order counts and a bad debt can have a particularly adverse impact on the company’s cash flow, getting paid on time is vital to the business’ short-term financial health. Additionally, the time and effort spent chasing overdue payments could be better spent focusing on core business activity.
After Hilton-Baird’s expert intervention, not only was the invoice paid in full, but the burden on Chris’ valuable time and resource was removed completely to provide additional peace of mind.
If your customers also need extra motivation to make payments, contact us on 0800 9774848 or firstname.lastname@example.org to see how we could help. Alternatively get a quick quote to find out what we’d charge should we successfully recover your unpaid invoices.