Ten common debt recovery mistakes – No 8: Having out-of-date customer records
19 December 2016
Sarah Everton, dispute resolution lawyer at Myers & Co in Burslem, Stoke-on-Trent looks at the ten most common mistakes business owners make when it comes to tackling debt recovery, and advises on the best course of action.
Mistake 8: Having out-of-date customer records
Out-of-date information about your customers can lead you to assess them as a lower risk than they may be, so it is worth making sure that you keep a record of their ability and willingness to pay on each occasion so that you are not caught out later on. If you do have to take court action, you will need their correct address and contact details for service of court documents.
The contents of this article are for the purposes of general awareness only. They do not purport to constitute legal or professional advice. The law may have changed since this article was published. Readers should not act on the basis of the information included and should take appropriate professional advice upon their own particular circumstances.