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Ten common debt recovery mistakes – No 6: Failing to follow up

25 November 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 6: Failing to follow up

A robust credit policy must also be structured; your debt recovery staff should be able to follow a procedure to ensure that your debtors are contacted consistently.  If you demonstrate persistence, late payers will soon learn that they cannot just ignore the debt.  Decide how long you will continue to contact them until they pay, and when you will pursue formal recovery proceedings.

For more information on credit policies or any other debt recovery matter, contact Sarah Everton on 01782 525 012 or email sarah.everton@myerssolicitors.co.uk.

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.

 
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Sarah Everton

DDI: 01782 525012

E: sarah.everton@myerssolicitors.co.uk



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