Intelligent Credit Control
Sometimes, you just can't get paid. You've done all the right things and the money has still not arrived. The longer monies remain unpaid, the more likely they will turn into a bad debt and bad debts damage your business.
MoneyClaimsUK are here to help you.
Intelligent credit control has advantages over other common debt solutions:
- when considering issuing a statutory demand that is followed up 21 days later with a bankruptcy (individual) or winding up (company) petition you need to consider that, if the customer fails to pay, their insolvency may follow and you are then even less likely to recover the debt
- when using a debt collection agency it will cost you money, as their costs cannot be passed on to the debtor unless you have indemnified such costs by having your customer sign appropriately and explicitly worded terms and conditions. This option is never appropriate for consumer debtors
Send your final invoice or statement requesting payment within 7 days.
Statutory late payment letter
Where the final invoice is a business-to-business debt write and advise the customer that you will be exercising your statutory right to claim interest (at 8% over the Bank of England base rate) and compensation for debt recovery costs under the Late Payment legislation.
Learn more about Late Payment of Commercial Debts or make use of our Late Payment Compensation Calculator.
Notice of intent
If your late payment letter fails to recover the money you are owed it is time to use our 7-day B2B pre-action® ADR® service. MoneyClaimsUK will send the non-payer a Letter of Claim and give access to online ADR (Alternative Dispute Resolution).
Where settlement still cannot be agreed we send your "Notice of Intent" to issue proceedings through the County Court ensuring pre-action protocol compliance and providing evidence of attempting proportionate ADR. We then go on to support you through pre-court preparation, the court process and where needed post-judgment enforcement.