10 important things to do to make sure you get paid
If you want to make sure that you stand a fighting chance of getting paid after you have done your work or supplied your goods or services, take note.
Terry Maylin of TM Law solicitors is one of the best in the business at getting back money owed to his clients. The following is a culmination of many years experience of dealing with the recovery of money from those who are determined not to pay. Make sure that you complete these steps in your everyday business to avoid ending up in a situation where you will need to use debt recovery services. Whatsmore, if you HAVE followed these steps, your chances of ever getting the money owed to you will be increased.
- When you meet your customer for the first time, ask them who they are and who they are representing.
- If they are an individual, ask them for their full names. If they are part of a partnership, ask for the full names of the partners. If they represent a limited company ask them for the company’s full name and number and names of the directors.
- If they turn out to be a limited company and you are concerned about getting paid, ask the directors to provide you with a personal guarantee *
- Once you have established who you are dealing with carry out a credit search** to make sure they are worth giving credit to.
- When you get an order from them for goods/services, make sure it matches who you think you are dealing with.
- When you invoice them, make sure your invoice has the full name of who you are billing and that this matches any order you have.
- As soon as you have get any financial information (particularly bank details) and make a note on your file opening sheet ***
- If you get any cheques keep a copy of it on your credit file.
- Make a note of who your client/customer is dealing with i.e people who may owe them money.
- If you follow these simple steps and a customer does not pay you without good reason you have a much better chance when you instruct TM LAW of getting your money back
*TM Law can do this for you for £150 +vat
** TM Law can do this for you for £10 +vat ***
Now you know some of the secrets of how to make sure you get paid and what to do if you don’t get paid. Contact us at TM Law for our vast experience of recovering money for our clients.
Telephone 01702 568220/0797 697 4879. Email [email protected]. Visit http://www.tm-law.co.uk