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Nov 23 2018
Debt Recovery

Common excuses for stalling payment

For any small business, cash flow management is essential. If one of your main clients stalls payment, it can put you in a precarious financial position. You too may fall behind on payments, which causes you to incur overdraft fees. Or, you may not be able to take advantage of an opportunity that presents itself. With that in mind, let’s take a look at some of the common excuses clients use when trying to delay payment.

 

Systems error

This is the main excuse given by clients when attempting to stall payment. They may have said that the cheque has gotten lost in the post, their accounts system is down, or that your invoice never arrived. While it is a good idea to give clients the benefit of the doubt to begin with, if these excuses keep coming, give your client an alternative option so they no longer have the excuse. For example, if cheques keep getting lost in the post, inform the client that they can pay via bank transfer, BACS, or even PayPal.

 

They are waiting to be paid

While it may be true that supply chain issues are causing payment delays, you are entitled to be paid on time and in full regardless of your client’s cash flow. If you suspect that this is likely to be a recurring issue, it is a good idea to secure at least a portion of the payment up front.

 

Disputes

The client may claim that something is wrong in an attempt to stall payment. For example, they may state that something is wrong with the service provided, or that there is an error on the invoice. Act quickly and communicate well with your clients to avoid this. If the problem persists, professional debt recovery is advised.

 

If any of the excuses above sound familiar, it is a good idea to get in touch with a debt collection agency as soon as possible. At First Capitol Collections, we specialise in debt recovery services, including doorstep collections. We know the most effective methods for collecting the payments you have been waiting for. Simply get in touch for more information.

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enquiries@firstcapitol.co.uk

03333 444991

Local rate from mobiles & landlines!

Monday-Friday: 9am-8pm | Saturday: 10am-4pm

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