Did you know?
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Statistically, if you have 100 customers on credit, on average 1 – 2 will become bankrupt every year.
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You can charge compensation as well as interest on debts which are paid late.
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Statutory Demands can be used to wind up even the biggest UK companies if they won’t pay you within 21 days of an invoice’s due date.
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Are you on top of credit management? Consider the following questions:
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Have you worked out the maximum credit limit you should give any customer?
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Do you know the cost of prompt payment discounts?
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How do you get paid by companies who say “the cheque’s in the post”?
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Are you using the right checks on customers?
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Are you spending too much resource checking customers or not enough?
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How do you work out when an account is in danger?
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