solicitor help please?

[fastprint.co.uk]

Which Type of Solicitor do I need to speak to in regards to creating a credit system for my customers such as offering it, emails that go out and referring to debt collection agency?

 

[STDFR33]

Which Type of Solicitor do I need to speak to in regards to creating a credit system for my customers such as offering it, emails that go out and referring to debt collection agency?

You don’t.

You need to ask your accountant to help you implement robust credit control procedures.

Part of that process may mean you are referred to a commercial solicitor to draw up robust terms and conditions etc.

 

[fastprint.co.uk]

Sorry what do you mean to get the accountant's help, how would they know the legal side on the credit form, emails, offering credit and final if none payment referral to collection agency?

 

[Mark T Jones]

As a rule I wouldn't speak to an accountant on here, I'd contact a competent credit controller - I think there are some on this forum.

Perhaps ask admin to move to accounts

 

[Big G]

What advice are you looking for exactly?

Are you looking at offering credit control / debt recovery services to your Clients when you dont even know anything about it yourself?

 

[KAC]

As a rule I wouldn't speak to an accountant on here,

Can't get a better recommendation than that !!!
As @STDFR33 has said, your accountant should be able to set up your internal credit control system and these days many accounting systems will deal with the initial chasing communications and should definitely produce aged debtors lists.
I guess the majority of your work is cash in advance but where customers want to open ab a ccount, then for the credit risk you should maybe get credit insurance. This is just one that I Googled.
Your accountant may well have contacts.

 

[Mr D]

Sorry what do you mean to get the accountant's help, how would they know the legal side on the credit form, emails, offering credit and final if none payment referral to collection agency?

You would use a solicitor to refer to a collection agency?
I'd use a computer, quicker and cheaper.

 

[Chris Ashdown]

What accounts software do you use, the majority will give your accounts customers a report that states how much they owe over 30 days 60, days and so on, with this information you can ask your person who inputs your invoices etc to send a statement out with the information on it and if not paid by your pre arranged date either phone them up to chase it or hand it over to a debt collector to get the money at a % or fixed fee

 

[DavidWH]

Look at other credit application forms, and see what information they request.

Send credit application form, when you received it back, do a credit check based in the information provided on it.

If you're happy with the risk, give them credit, if not don't.

If you do give them credit, run your reports in your accounting software, chase overdue invoices, send statements, and when your patience runs out, send it a debt recovery company and let them start chasing and adding fee's. We have on all our invoices what fee's are charged on overdue invoices.

Or the easiest way... don't give credit unless necessary and get paid in full with the order.

 

[Chris Ashdown]

Don't be afraid of turning down customers asking for credit terms, we were always afraid of doing so but in the end did turn down all except semi governments institutions including schools, prisons, Hospitals and nursing homes

The result of not offering credit cards about 95% still wanted the goods and paid by company credit card on a pro forma

Every one is scared of loosing customers by refusing credit but we found out it did not mean loosing the customer. The largest one we refused was a large aerospace PLC who just accepted it and gave us orders every month

 

[Mr D]

Don't be afraid of turning down customers asking for credit terms, we were always afraid of doing so but in the end did turn down all except semi governments institutions including schools, prisons, Hospitals and nursing homes

The result of not offering credit cards about 95% still wanted the goods and paid by company credit card on a pro forma

Every one is scared of loosing customers by refusing credit but we found out it did not mean loosing the customer. The largest one we refused was a large aerospace PLC who just accepted it and gave us orders every month

And the advantage is your exposure when a company does have trouble paying.
The businesses that can only order on credit - not the custom you appear to want. Heck, not the custom that can be afforded these days.