Credit Reports and Credit Checks Online!
To ensure you know exactly who you are dealing with and to ensure they are not a credit risk it is a good idea to do a credit check.
Credicol also offers Credit Reporting.
As an authorised reseller of credit databases and services, Credicol offers a range of online credit reports, credit checks, company/business name searches and property information.
Whenever you open a new account, this is the most effective way to check the details the customer has supplied and also check for adverse information. You will be more able to assess the credit risk.
To see our fees for Credit Reports click here
To sign up as a client for Credit Reports click here
Some Tips to help you Collect your Debts
To ensure that debt collection is faster and costs for you are kept to a minimum make sure your customers sign a Credit Application.
To see a sample of a credit application click here
It is a good idea when dealing with a Company that you try to obtain Personal Guarantees from the directors.
Adjust your Terms and Conditions
To ensure that debt collection costs for you are kept to a minimum it is important that you have the correct terminology in your Terms and Conditions .
Make sure your current contractual terms and conditions include provision for the following:
Ensure that you have the right to charge either penalty interest or a monthly interest charge on all overdue accounts;
All legal costs to be paid by the debtor, on an indemnity basis;
In the event where the account is referred to a collection agency, the right to add collection costs to the balance outstanding.
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