Pre-action Protocol for Debt Claims

Pre-action Protocol for Debt Claims

Aims of the protocol and who it applies to: On 1st October 2017 it became a requirement for any business including sole traders and public bodies, to adhere to a new Pre-Action Protocol for debt claims. This means that all businesses must carry out a stringent process prior to submitting a legal claim for an […]

The use of well managed outsourced credit control maintains cash flow and reduces the need for debt recovery

The service is carried out entirely in your brand by your named experienced credit controller(s). Whilst many of our competitors use remote workers, all of Sterling’s staff work from our service centre under a team leader and service manager. Cover for absence is provided in each team so the service runs each week consistently without […]

Duty To Report – tackling late payment

We can assist you collecting late payments from your clients, the penalties which the debtors may incur should deter them from doing so again. Don’t leave late payment too late before reacting. Cash flow problems as a result of not acting quickly can seriously damage your business. Keeping a tight rein on invoice collections from the […]

British SMEs are owed more than £586billion in outstanding invoices

The following is an excerpt from a recent report published by Lloyds. Whilst there are an array of invoice financing options open to businesses, they are at a cost and as our clients find, not all invoices are financed – that’s when they look for risk free no upfront payment solutions such as debt recovery, to […]

Small Business Minister & Prompt Payment

New measures to support the Prompt Payment Code have been confirmed. New measures to support the Prompt Payment Code have been confirmed in a letter sent to signatories of the code from Small Business Minister, Margot James and Philip King, Chief Executive of the Chartered Institute of Credit Management (CICM). More than 1,800 firms are […]

Businesses and individuals seeking money owed to them are being priced out of court

Businesses and individuals are being priced out of court, warns the Bar Council, as figures from the Registry Trust show a 19 per cent drop in county court judgments against businesses in the first half of 2016. Chairman of the Bar, Chantal-Aimée Doerries QC, said: “The courts risk becoming out of bounds for many as […]

Outsourced Credit Control with Sterling Credit Management

Outsourced Credit Control Our outsourced credit control service has been re-branded. We are happy to invite you to our new credit control website providing information to any SME / business in the UK looking at outsourcing credit control services. www.creditcontrolservice.co.uk If you do regular business with slow paying clients, you are probably spending much more time chasing […]

UK top 100 accounting firm’s customer who stopped paying on time

Interesting collection history from one of the recent successful debts collected by Sterling. One of our long term clients, a top UK accountancy firm, passed us a debt where one of their long term clients (using their services for the past 20+ years) began persistently paying late. The debtor had been asked on numerous occasions by […]

UK Top 100 Accountancy firms

Sterling provides debt collection service to several UK Top 100 Accountancy firms. Recent success story from the accountancy sector: We received the debt this month from our client, one of the Top 100 accountancy firms in the UK, invoice value circa £10k, dating back to the end of 2014. We traced the most relevant person […]