Managing late payments and unpaid invoices can cause a massive headache for small businesses. There’s the need to chase customer debts to manage your own cash flow. However, this has to be balanced with keeping a good working relationship. There are ways that you can recover an unpaid invoice without losing your client.

 

Commercial debt collection

The best way of reducing the number of late payments is to ensure your invoicing system is managed correctly. This includes having well-structured and informative invoices and making your invoice payment terms clear.

However, even with a good system in place there will always be some customers who you need to chase for payment. This could be for a number of reasons, including a problem with the invoice, insufficient funds or to manage their cash flow.

It could be a genuine mistake why payment hasn’t been received. Particularly with long-standing clients, it’s always a good idea to check what the issue is before making demands for payment. It may be something that can easily be resolved and paid.

 

Recover an unpaid invoice

Where you need to chase customer debts it’s useful to start the process as soon as possible. This minimises the impact on your cash flow and helps to sort out any problems they may have.

When an invoice hasn’t been paid by the due date you can start to chase straight away. In the first instance, this could be with a gentle reminder or statement via email and followed up by a phone call if it still remains unpaid.

Often businesses leave it too late to start a more formal process with the use of a commercial debt recovery company. Taking on a third party to chase customer debts doesn’t have to be a last resort months down the line. By this point the customer could be in financial difficulties and there might be a low chance of recovering the money.

At CEA Limited we can work with customers as soon as the invoices are overdue. Our debt recovery team work in a professional manner at all times to maintain the relationship between them and their clients. We can recover an unpaid invoice quickly and cost-effectively, enabling you to focus on your business and keep a healthy cash flow.

 

How can you collect my invoices?

In order to instruct CEA Limited to recover your unpaid invoices all we need is copies of the relevant overdue bills. You can speak to one of the team on 0113 532 8350 or email us on office@cealimited.co.uk and we’ll get started straight away.

We carry out checks on the company to ensure they are still trading and send out the relevant debt letters and documentation. Where debts remain unpaid, we can take your case through to a County Court Judgement and a High Court Writ for enforcement.