As a lot of members run their own businesses and no doubt will have problems with customers paying on time may i ask how you manage overdues.

I have a major blue chip owing me thick end of £6K and no matter how many times i speak to their accounts i just get the same old story, its in the pile to be paid.

Now at present it is 15 days overdue which to them may not be a great deal but to our business cash flow it is, at which point do you threaten to start charging interest or any other tips to get it paid.

Cheers

leedsunited wrote:

As a lot of members run their own businesses and no doubt will have problems with customers paying on time may i ask how you manage overdues.

I have a major blue chip owing me thick end of £6K and no matter how many times i speak to their accounts i just get the same old story, its in the pile to be paid.

Now at present it is 15 days overdue which to them may not be a great deal but to our business cash flow it is, at which point do you threaten to start charging interest or any other tips to get it paid.

Cheers

Simple, put them on stop Or instead of talking to the accounts dept, speak to the person who orders from you to pull a few strings or kick arse in their accounts dept, it always works with me, but then again it all depends what sort of relationship you have with your customers

Ady Thanks

The invoice is for a contract completed and no other orders to use the stop method at the moment, the guy who initiated the work is also doing his best to kick ars* but he is also pulling his hair out at the lax attitude to our needs.

If you want to collect a debt from a customer you won't deal with again use http://www.thomashiggins.com/ they have sucessfully collected tens of thousands for me over the past few years. They are very efficient and very cost effective often the debtor pays all the costs. Good luck

I think a polite but firm letter informing that if the account is not settled within 7days of receipt of the letter then further action to recover the monies owed shall be taken should be the first step. If nothing comes of it then instigate collection measures.

Now that it's late I would send firstly an email stating
"Please be advised that  In cases of late payments, xxxxxxxxxxxxxx. will exercise rights under the Late Payment of Commercial Debts (Interest) Act 1998 and in this respect interest will be added to the debt until settled in full. Also in accordance with  European Directive 2000/35/EC, a debt recovery fee of £40 will be charged."

If this fails then a recorded letter giving them 7 days to pay and if that then bring in the debt recovery chaps - all at their expence. 2005 Zambezi TDV6 - Gone but not forgotten
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I speak with my brother who owns a debt collection, process service and bailiff company

Very Annoyed wrote:

Now that it's late I would send firstly an email stating
"Please be advised that  In cases of late payments, xxxxxxxxxxxxxx. will exercise rights under the Late Payment of Commercial Debts (Interest) Act 1998 and in this respect interest will be added to the debt until settled in full. Also in accordance with  European Directive 2000/35/EC, a debt recovery fee of £40 will be charged."

If this fails then a recorded letter giving them 7 days to pay and if that then bring in the debt recovery chaps - all at their expence.

VA - Many thanks, did as you stated and hey presto paid

Normal 10% fee due then.  2005 Zambezi TDV6 - Gone but not forgotten
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Very Annoyed wrote:

Normal 10% fee due then.

1 case of RBMM i presume

Perfect.  2005 Zambezi TDV6 - Gone but not forgotten
2009 Alaska TDV8 - Gone and much missed.



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Runner Up - 2009 �Just Doing What It�s Designed To Do� Award


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We had a lot of bother with oil companies not paying us for months after we had trained their staff. Simple answer was that after they sat the exam and it got marked, if they passed then we hold the certificate that they need to show to be able to do the job until the invoice was paid!! So no payment mean the staf they had sent for training couldn't work!!! Simples  Current, M135i in Estoril Blue with more extras than the cast of Ben Hur.

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Just read thread - my approach same as VA's - increased cost always works - also depends on your terms on your invoice - I use a compound monthly interest statement at X% above BOEBR




Gald you got sorted - also if they use you again - hike your rates

When this happened to my father for a 6 figure sum he applied for a what i think is called a form 22 - it meant the company had to present it's accounts to a court on suspicion of trading while insolvent............... had the desired effect but it also transpired the company was insolvent! He also did a similar thing to my employers when they bought some generators for the ships from him.......... payment received within 24 hours, there was no way they were going to open up the books.
British Steel used to be awful payers - then they went ISO 9001 and insisted my father put is little company through the QA procedure or they wouldn't do business with him........... as all they ever purchased from him was £100's worth of drum taps at a time he told them to get lost, after chasing them up for payment he lost most of the profit on the product.......... they stopped using him for about 6 months and then came begging for an urgent supply. He told them they couldn't deal with him under their QA/ISO accreditation but they couldn't find anybody else who was accredited to supply the items. When they then took monts and months to respond he used their ISO accrediation to get back at them - a few days before they were re-audited. That got the desired results, and they then took their ISO certificate out of public view! 2020 Pangea Green 1st Edition D240 New Defender 110 is here and loving it
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Also in my garage is a 1996 TDi300 Defender 90 County HT made into a fake CSW