Persistent Late Payers
For many credit professionals, a persistent late payer represents the single most important reason for using the services of a cash collection expert. We find this very strange, and for two reasons: Firstly, ’persistent’, and secondly ’late’. ’Persistent’ means they regularly flaunt your credit terms, and thus increase the cost of maintaining them as a customer. ’Late’ means they increase the pressure on you to fund your business without their cash. Both, in our estimation, are entirely unacceptable.
One statistic that no credit professional will dispute is that the likelihood of payment reduces over time. That’s why we always encourage our customers to place their overdue accounts with us earlier, rather than later. And, we put our money where our mouth is, by reflecting this in our commission charges which are cheaper when the account is referred to us earlier.
