Useful Tips |
Debt Management Companies: Are they Right for you?
• In the current economic climate, more and more people are finding themselves in debt and are turning to Debt Management Companies to help them out.
Typically, Debt Management Companies will ask you to complete an application from along with a questionnaire. Depending on your responses, they will suggest a Debt Management Plan that is suitable for you.
Free Credit Control Resources: Google
• You’ve no doubt heard the saying “You can run, but you can’t hide” This saying is more true today in credit control & debt collection terms than it has ever been.
I will give you 2 recent examples that I have personally experienced that will reinforce how great Google is as a free credit control/debt collection resource.
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Factoring
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Factoring & Invoice Discounting
Along with credit control services, we offer Factoring, a Credit Management service with the added advantage of a finance facility. Our UK factoring services are good for business start-ups and are also a good way of improving cash flow. It is by no means a long-term solution and as sales increase, it is far more cost effective to an utilise Outsourced Credit Control Solution.
An annual agreement with the factor will be signed, stating how the process will work. The fee for this service will normally be between 1 & 5% of turnover, plus an interest charge on funds advanced at a rate similar to that of an overdraft.
Non-Disclosed Factoring
This is the same as factoring, except your customers are not told and payments continue to be sent directly to you. You then also have the task of collecting your debts to the satisfaction of the factor.
Confidential Invoice Discounting
Factors also offer invoice discounting services, whereby you do your own credit control and sales ledger (or we do it for you) and simply receive advance funds on your invoices with recourse in the event of customer default. We are currently working with 2 factoring companies and have negotiated special deals and arrangements for enquiries emanating from ourselves.
By providing a reliable invoice discounting service, we have succeeded in acquiring a reputable client base in Kent, and other parts of the UK. We have a separate team, which specialises in the area of invoice discounting services. They are well versed with all the basics in invoice discounting area and adopt a professional attitude while helping clients.
We work very closely with several specialist-factoring brokers who have a wide knowledge of the players in the market, and know who is hungry for business and who are specialists in certain industries For further information on credit control services, Debt collection or invoice factoring, please contact us by telephone, or by using, our on-line query form and we will do our best to help you
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Testimonials |
I am absolutely amazed at how quickly CCS managed to get my money back, with what seemed like such little fuss.
As a director of a company, I have to deal with many suppliers, & CCS’s service has been second to none, from the very first contact, to completion of my business with them.
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