Free database search for slow, late and bad payers offer closed. Searches to cost 99p from November 2011

For over two years we have been offering our clients free database searches and completely free debt collection but, unfortunately, all good things must come to and end.

As from November 2011 searching our online database of slow, late and bad payers will cost 99p per search. Still an absolutely amazing deal.

Place a debt with us for collection and payment within the first 7-days will be charged at low rate commission. Collection after 7-days costs absolutely nothing!. Once our collection service starts it does not stop until the debt is paid in full.

With no membership, subscription or annual fee, no contract and no prepayment on debt collection, we guarantee you won't find a better B2B & B2C debt collection deal anywhere in Britain and Ireland today.

Now let's tell you what these great products are and how they work and continue working to stamp out bad debt and give ALL companies a stronger cash flow platform to trade from.

DebtorsDatabase is an electronic recording of debts due by companies and individuals, which are outside the payment terms agreed with suppliers of goods and services. There is NO private debt and the database is only open to verified companies and businesses. Individuals may not access DebtorsDatabase.

Who's on DebtorsDatabase?

Credit account customers who have not paid one of your suppliers invoice and so they have passed the account to DebtorsDatabase for collection. DebtorsDatabase is a fully searchable Internet database of debtors who have chosen publication on the fully searchable electronic database rather than pay their supplier what they owe them. Companies and individuals, with aa record of slow, late or bad payment,that choose to be published on DebtorsDatabase may find it difficult to get credit under normal credit terms and they may also find some of their existing lines of credit reduced or withdrawn.

Who can view a published entry on DebtorsDatabase?

Companies are granted verified access to DebtorsDatabase to help them access new trade account applicants and existing customer who may now present too greater risk to continue extending credit terms. After all a new customer for one company may well be an old debtor of another. DebtorsDatabase does not opinionate on the credit worthiness of any company or individual appearing on the database and has no control over what credit control policies any searcher may employ.

How does published data get removed from DebtorsDatabase?

If you settle the account placed for collection in the 7-days allowed from the time DebtorsDatabase first notify you that the debt has been placed for collection, then the overdue account will not go live DebtorsDatabase and all references to the debt will be removed but if you pay after the allowed time the search data will be updated to reflect the fact that you have now paid but the record will remain on the Internet Database for a period of up to 6 years months from the date of first placement with DebtorsDatabase. The only way to stop publication on DebtorsDatabase or to be removed from the database and all records and data destroyed is to pay in full, together with any charges or fees that may apply after the 7-days time allowed to pay has expired.

Get paid fast, before anybody else and before it gets too late...starting using DebtorsDatabase's fabulous debt collection and database searches TODAY

Rock Star Grounded by Airline Collapse

The news that British airline Astraeus Airlines has been placed into administration means that Iron Maiden rocker Bruce Dickinson, who currently works as a senior pilot and marketing director for the company, may be forced to return to his music day job.

The 53-year-old musician learnt to fly back in the 1990s and has flown all around the world with the airline, which has now been ordered to cease operations with immediate effect. He was flying 250 customers from Jeddah International Airport in Saudi Arabia to Manchester, in what turned out to be the airline’s last flight, when he was informed of his employer’s administration.

Statistics

• There are 4.5 million small businesses in the UK
• SMEs account for 99% of all enterprise in the UK, 58.8% of private sector employment and 48.8% of private sector turnover.
• SMEs employed an estimated 13.8 million people and had an estimated combined annual turnover of £1,500 billion
• Businesses with employees account for a quarter of all enterprises - a fall of 29,000 since 2010
• There are 876,000 businesses in construction - a fifth of all UK enterprises
• London has 748,000 enterprises - more than any other region
• The South East has the second largest number of enterprises with 745,000. Combined with London a third of all businesses are based here
• 45.3% of businesses are registered for VAT and/or PAYE
• The number of sole proprietorships increased by 87,000 in 2010 and the number of companies, 6,000

Micro business: 0-9 employees. Small Businesses: 10-50 employees. Medium Businesses: 50-249 employees

(Updated November 2011)

Figures obtained from the Department for Business Innovation and Skills. Home working figures courtesy of Enterprise Nation.

Participate in Our Contest

Contest: Christmas Free Draw

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(Contest Ends: Dec 24 2011)

Search a Database of Published Debtors Details

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The winner of our previous contest, ‘Summer Free Draw’ is Dave Roach

Congratulations...Dave Roach

As economic indicators continue to paint a gloomy picture for the UK’s recovery, businesses are reversing their priorities and are putting cashflow before customer relationships to keep afloat and bad debt at bay. Following news this week that SMEs are owed £33.6bn in late payments, the latest figures show that businesses are getting tougher on customers who pay late and were chasing overdue invoices sooner. 2011 figures, compared to the same quarter in 2010 saw average time from invoicing to a Letter Before Action improve from 72 days to 68 days.

This is quite a reversal on 2010 when businesses were giving customers much longer to pay before action was threatened, in a bid to maintain good relationships.

There is still much more room for businesses to sharpen up their debt management strategies and show customers they mean business when it comes to late payment. It’s all well and good threatening legal action but firms need to demonstrate they will pursue a claim through the legal system or they are in danger of crying wolf. Businesses should not let their fear of losing customers or damaging relationships get in the way of taking a hard line on overdue invoices.

SMEs 'owed £33.6bn in late payments'

SMEs are owed an average of £39,000 and are waiting up to two months to get paid, claims the report. It added that half of all UK SMEs - 861,000 firms – are currently experiencing late payments. Mike Hutchinson, head of martketing at Bacs said, “The issue of late payment is continuing to get worse for SMEs in the UK at a time when they need to be able to plan ahead for growth and ensure a strong cash flow. The worst offenders for paying late, according to the research, are large companies which are behind 48% of SME late payment debt, followed by the public/private companies at 20%. Government and not-for-profit organisations are among the best payers with just 9% of SMEs experiencing overdue payments from this sector.

(Source – BBC)

Using the Wrong Debt Collection Agency Often Results in Non-Recovery

The success of any business relies on timely payments of clients and the ability to stay in control of your sales and, in turn, your cash flow. We all know what happens when a once trusted customer quickly becomes a ‘hard core’ debtor. It happens quickly and far too frequently nowadays and less latitude on agreed payment terms is and will become, an essential part of every micro, small, SME and large/public companies credit control/management and general trading policies and so it should

Taking on the task of debt recovery yourself is often a recipe for disaster and can result in the recovery costing more than the debt itself. You can’t simply choose just any third party to recover the debt for you.

“Every debt is different, and the hard task is to find the company best suited to recover debt Creditors need to find the right Debt Collection Agency to take the reins and handle customer slow, late and bad payment for you.” In short you need a debt collection agency to get you paid fast, before everybody else and before it gets too late and that’s where DebtorsDatabase comes in. “Our collection rates are, quite understandably, incredible. Start placing your overdue customer accounts with DebtorsDatabase and you’ll be amazed by the phenominal upsurge in customer payment,” Collections Manager Dave Williams forecast.

Beverley Ramsay, the CEO of DebtorsDatabase, went on to explain. “We offer creditors incentive based debt collection the like of which has never been seen before. We are so good at what we do and confident that collection by us will be so fast, that we offer all our clients a 7-day payment deal. When a debt is passed to us for recovery the DebtorsDatabase collection service starts and it doesn’t stop until the debt is paid in full. However, we only charge low and very competitive commission on debts paid in 7-days. Every debt we collect after 7-days costs the client (nor the debtor) ABSOLUTELY NOTHING,”

Beverley went on to say, “I’m proud to announce that we’ve opened up the service further and our database of debtors can be searched by our clients at any time for an incredible 99p fee. We don’t ask for or require any upfront payments, subscription or membership fees and there are no contracts to sign. You don’t have to place debts to search the database and the whole business will certainly help put the creditor back in control. Finding out exactly what we can do for your company is as simple as clicking here to visit our website. The rest is easy and the results will be just what credit managers/controllers have been/are looking for.”

“If you are a micro or small company, with less than 100 customers our associate company, Credit Minder is exactly what you need. DebtorsDatabase has teamed up with Credit Minder to give small companies the solution to thier invoicing, credit control and debt collection problems and for a pre-paid fee of less than £1 a day you get everything done from invoicing to putting the cash in your bank super-fast.”

"We've put together a solution for small businesses which will save them valuable time, money and stress and give them the solid cash flow platform to enable them to succeed and grow and all for under £1 a day!" Beverley Ramsay confidently claimed. Find out more

65% of Credit Professionals want Government to protect SMEs from late payments

Survey of members of Institute of Credit Management reveals late payments still a major issue as an increase in use of credit data is revealed

The latest survey of credit management professionals, conducted jointly by the Institute of Credit Management (ICM) and business information provider, reveals a huge increase in the use of credit data compared to 2010, as businesses look to reduce their risk of bad debt. In the survey of ICM members, 86% said they use credit and business data checks for new customers and suppliers, compared to just 37% last year. And 85% use data for ongoing monitoring, but only 41% said the same a year ago.

In 2010, 59% reported an increase in late payments that year, but this is down slightly to 52% in 2011. Over a third (36%) are chasing late payments up to 3 days sooner than they were a year ago, up slightly on 2010. And 20% are chasing four days sooner, compared to 29% twelve months ago. Late payments remain a major issue for businesses, which accounts for the sharp increase in the use of data checks and ongoing monitoring, as firms keep a closer eye on new and existing customers and suppliers.

The survey shows that the current market conditions continue to put a strain on businesses, with 65% saying the Government should offer more support to protect small businesses from the negative impact of late payments. This is down on the 77% who said the same last year, but clearly shows a significant level of dissatisfaction.

Key findings of the survey show that the threat of redundancy has decreased. In 2010 63% of those surveyed said their company had made redundancies, but this figure has dropped to 44% in 2011. With a focus on credit management, these roles remain key for many businesses with 77% saying their department was not affected by redundancies, up 5% on the previous year.

“It’s interesting to see that the use of credit and business data checks has soared in the last 12 months, illustrating its value in managing risk and reducing bad debt,” says Mark Nuttall, Director. “The use of new customer checks and ongoing monitoring has more than doubled. And over half (50.5%) use data for verification when chasing debt, as firms continue to clamp down on late payments.

“Quality business and credit data is clearly more important than ever to businesses, as they struggle to operate in an uncertain economy. Ongoing monitoring and robust checks continue to offer the best protection from bad debt, helping companies continue to make informed business decisions and operate with confidence.”

Philip King, Chief Executive of the ICM, adds, “Late payments continue to put businesses under added strain, in an already fragile economy. The survey shows that businesses are struggling to tackle late payments and the majority would like Government support, but it is also up to professional credit managers, and specifically members of the ICM, to take the lead in reducing the impact of bad debt and improving levels of best practice.”