[poleman]

I have been spending weeks chasing overdue invoices, and its a bloody nightmare (owed thousands) been thinking of handing over my credit control to a factoring company! does anyone use them!

Andy

[Helen]

have no experience of them, can't you set aside maybe one hour per week, especailly now the afternoons are shorter, to do your own credit control? 

[Seers]

Hi.

We've been using factoring for about three years, it has it's pro's and con's.

Yes, you will get most of you invoice value immediately from the factoring company, but in three months you may still end up chasing the debt as you do now, if your customer has not paid the factoring company.

It all depends on how much effort the factoring company put into chasing debts on your behalf, after all it is in their interest to let debts go longer so they can charge you more interest.

It has allowed us to expand greatly, however once you jump on board the factoring boat it is almost impossible to get back out! .....unless you have thousands of pounds to buy back your debtor list!

Cheers,

Huw

[JJWindowCleaners]

having worked as an employee in a company that factored, in my opinion you should avoid going that route if possible.
Your better of taking an afternoon off and writing letters giving customers 14 days to pay before Court proceedings start.

[BDCS]

I thought factoring meant you got paid a percentage of the jobs and then it was up to get the money from your customer, its the factoring company that looses out if that customer dos'nt pay. Why factor if you still don't get paid ?

[Art]

Hi Andy,

 Have a look at this

www.moneyclaim.gov.uk

That usually gets there attention

Arthur