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Welcome to month four of our Credit Management Industry News Round up. We pick the latest topics that we hope are of interest to you and provide information to help with your business. If there is anything you would like to see more of in our round ups let us know: CREDIT MANAGEMENT Construction Companies hit […]
Back in July we gave you some information about the changes in Pre-Action protocol coming into effect in October 2017. We wanted to do a follow up to keep you informed of the changes and the tools we have developed to make sure you are compliant. The changes in the Protocol affects all businesses extending […]
Welcome to month two of our Credit Management Industry News Round up of the news we think will be useful to you. A lot of what we blog about is our opinion and what we think of the issues you face on a daily basis. If you have any specific questions about a topic you […]
Our top credit management questions in April Here are April’s top credit management questions that we have been asked by customers and contacts. A customer has offered to pay £250 of a £500 debt in full and final settlement, what does this mean? If your customer proposes to pay an amount in full and final […]
Here are February’s Frequent Credit Management Questions Why should I be credit checking customers? Credit checking your current and prospective customers will help you assess the level of a risk a customer poses to your business at that moment. Credit risk report should be considered in detail, taking into consideration aspects such as: Adverse information […]
CCJs against businesses are at their lowest in second half of 2016 than any other year on record according the findings released by the Registry Trust in February. They have found that county court judgements against businesses in England and Wales fell by 21% in 2016, falling once again for the sixth year running. This […]
It costs 10 times more to gain a new client that it costs to keep an existing client, focusing on getting your fees paid in a client focused way is essential to the positive continuation of a business relationship. For credit management in legal practices we do not refer to the ‘order to cash process’ […]
The CMG UK team have been celebrating this month following business awards nominations at two prestigious ceremonies. The team firstly attended the North West Finance Awards following their nomination for ‘Credit Team of the Year’.They were put forward for the award by one of their long standing clients, for whom they have been carrying out all […]
Please find below our credit management FAQs for the month of September. Can I charge interest on overdue invoices? If your terms and conditions don’t stipulate otherwise, you can changed Late Payment Legislation; this allows you to charge 8% above Bank of England reference rate, that is set every 6 months (visit Pay on Time to […]