LAW
Adding up – Muckle Collect can help your business chase every late payment .
CREDIT WHERE CREDIT ’ S DUE
How to stop writing off small debts with Muckle Collect
In an ideal world , credit controllers would be able to chase every overdue payment , even the small ones . But in reality , smaller debts mount up , and it can be difficult to recover them all , leading to one much larger , unrecovered amount that could eventually be written off .
We know that larger debts take priority , but there is a way to get smaller debts under control .
In this article , Muckle LLP solicitor and debt recovery expert Matthew Brady explains how using a debt recovery solution can be the key to taking control of unpaid invoices in the background – ultimately saving time and money .
Taking control of unpaid invoices For larger businesses , there ’ s often a team dedicated to chasing debts day to day , highlighting only urgent outstanding cases to the credit controller , who otherwise has a working list of the highest-priority invoices to chase .
It would make life easy if every payment was made on time ( and chased if it ’ s not ) with no exceptions . But in reality , some customers struggle with cash flow occasionally , and debts can stack up .
As larger debts take priority , it ’ s easy for smaller late debts to get missed , often seeming to disappear altogether until it ’ s too late .
Some credit controllers try to keep track , making enquiries with the client at 60 to 90 days in an effort to recover the debt – but once it hits the 120-day mark , it ’ s much harder to recoup .
So how do you recoup smaller debts earlier , without diverting time and attention ?
How to recover multiple smaller debts in the background Recovering smaller debts in-house can mean diverting time and attention from other more pressing matters .
Having a debt recovery solution as part of your payment policy means smaller debts can be passed to your dedicated team as soon as they ’ re flagged .
This moves the responsibility of chasing ( and often , chasing again ) from your inhouse finance team , who are likely to have other priorities on their lists .
Muckle Collect is a debt recovery solution delivered by legal experts with a fixed fee , a percentage of recovery payment options and a free-to-use platform .
With Muckle Collect , it ’ s easy and convenient to recover smaller debts on a large scale . All you have to do is upload any outstanding debts onto the free portal either one at a time or in bulk using a Microsoft Excel document . Our legal and debt recovery experts do the rest .
Using the 24 / 7 Muckle Collect online portal is a fast , scalable and transparent way to share , annotate , track and recover debts that could otherwise be forgotten or written off .
The bulk upload option allows credit controllers and finance teams to submit thousands of outstanding debts to the Muckle Collect debt recovery team and then track progress as our experts take appropriate action with a sensitive approach that never puts relationships at risk .
As your debts are recovered , everything is trackable . You ’ ll receive updates from the team on the portal , by email or over the phone – it ’ s up to you .
What is Muckle Collect ? Muckle Collect is a debt recovery solution from legal experts designed to help businesses of all shapes and sizes recover unpaid invoices of any amount .
Combining innovative technology with careful relationship management , the Muckle Collect team assesses your debts and creates a recovery strategy .
It ’ s fully trackable through our online portal , but it ’ s not an automated service – you ’ ll hear from real people with real experience at every stage of debt recovery .
It ’ s free to register with Muckle Collect and get started today . Just sign up to tell us about your business and start uploading the invoices you need to recover .
For more information about Muckle Collect , get in touch with Matt by calling 0191 211 7838 or email matthew . brady @ muckle-llp . com . To get started with Muckle Collect today , head to muckle-llp . com / collect
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