Credit Checking
DebtorChecker is a Credit Reference Agency with a difference.
Often small businesses will be paid when a job is complete or goods have been delivered. This is similar to giving customers credit and can often lead to bad debts.
If a customer does not pay their bill, it can be expensive and time consuming to take them through the small claims court and you will not be guaranteed payment.
It is not practical or economical to credit check all new and prospective customers. If you credit check a customer you have to tell them you will be performing a credit check. This is not normally done when a customer agrees to pay when a job is complete or the value of the work done is relatively small. With DebtorChecker you can check whether your existing, new or prospective customers have bad debts with other businesses. This does not require you to inform the customer and once you are a member of DebtorChecker all searches are free of charge. If a prospective customer has bad debts with other small businesses you can then decide to ask for payment in advance or refuse to do business with that customer altogether.
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Debt Collecting
DebtorChecker also provides your business with a valuable debt collecting tool. When you have difficulty in collecting a customers debt and have run the course of your own debt collecting procedures you can issue your customer with a notification that if you do not receive payment in full within a specified period then the details of their debt will be entered into the DebtorChecker database. Any business the customer may have dealings with in the future can have access to the DebtorChecker database and may refuse to deal with your customer. Your customer's credit rating and possibly that of members of the same household will be affected. The only way your customer can be removed from the database is if they pay you in full what they owe.
Once you have become a member of DebtorChecker and paid the annual subscription of £24.99 you will then have unlimited access to the website and be able to perform as many searches and add as many of your bad debtors as you like.
If all businesses deal with their bad debtors in this way we could eliminate bad debts to small businesses.
To eliminate bad debts to small businesses is DebtorChecker's mission.
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