Why use Creditsafe Ltd?

At Creditsafe, we take a professional approach to debt collection and account recovery.  Our ultimate aim is to recover your money without damaging the relationships on which good business depends.  We wont endlessly write letters to your bad debtors demanding payment, we will work with them to identify the best option to secure your payment in a timely fashion.

This is achieved through constant communication with your customer, via post, email, fax, phone and even SMS message.  Our experienced credit control team constantly monitor and profile your debtors to identify the best resolution in the quickest time.

After all your money in their account wont help your company to grow!

Signs of a bad debtor

There are some unique indicators of a bad debtor, or a business which could quickly become one unless they receive some urgent attention. Here are some of the top signs to watch out for:

  • Payments are consistently overdue every month. This could well indicate cash flow issues.
  • Your invoices are returned as undelivered mail or the telephone is disconnected.
  • Key personnel suddenly become unavailable or change with no warning.
  • Excuses are continually made for late payment and civil relations deteriorate rapidly.
  • Orders suddenly increasing or decreasing in volume.
  • Requests for credit limits to be increased or payment terms lengthened.
  • Queries over invoices increase, requests for multiple copies to be dispatched.
  • Sudden change in ownership or management of the business

Calculating the true cost of bad debt

Did you know that writing off £1000 of bad debt could actually cost your business £10,000?

If your profit margin is 10% and you write off £1000, you need to find an extra £10,000 worth of new sales to recoup this lost amount.

Unfortunately some bad debts would need to be written off as payment is never received. The primary aim of using Creditsafe Ltd debt collection is to minimise this occurence and ultimately the value of those debts which need to be written off.

Unlike some other agencies, we will not shy away from providing you with an honest appraisal of any account.  If you have a true bad debt Creditsafe Ltd will always give you an intelligent and impartial overview, placing you in the best position to make an informed decision.

If you have a client that is exhibiting any of the above signs, then call us on 01772 454505 for a free consultation with one of our trained credit management team.  Alternatively click here to contact us via the web.