Using a professional tracing agency for the purposes of tracing a debtor to recover business debts, will give you confidence that the problems you are having with bounced cheques or bad payers are likely to be resolved quickly and effectively.
Debt tracing can be a time consuming business, and if you are running your own small business you know that time is money. Contracting specialist debt collectors makes sense because they have the tools and experience in tracing debts to provide an accurate and efficient service.
Debtors are not all the same, with some people genuinely getting into trouble perhaps because of the economic situation in their business sector, or because other people have failed to pay them. It is unlikely that they will need to be traced, especially if there has been a good relationship up to that point, and lines of communication have been maintained. Indeed, you both may wish to maintain the working relationship even though there is an outstanding debt.
Tracing debtors becomes necessary when it is clear they have no intention of honouring their debt, and they have moved from their previous address or premises without having left forwarding details. To be of greatest assistance to your debt collection service, it will help if you can provide them with as much up-to-date information as possible. Provide home and business address where possible, and include any telephone or mobile numbers as well as an email address. Recovering bad debt is extremely important for businesses, especially small businesses, as cashflow may be seriously affected by bad debts.Your debt collector will use a range of tools to find UK debtors and keep you in close touch with their progress.
For more information, free initial advice or a general discussion, please contact AR Legal Collections on +44 (0)20 8202 0730.