In our experience at CollectIT debtors do not leave their suppliers just because they've been sent to debt collection. Regardless of the industry whether it is an accountant, landscaper, lawyer, advertiser or vet it doesn't make a difference.
Often the creditor (business that is owed the money) fires the debtor as a client. Who wants to be spending their time chasing money when your time can be better spent on getting new work or doing more work for existing clients that actually pay on time.
This does not mean that people don't find new accountants or vets, but in the main it is not because they owe money.
Before writing this newsletter we did a survey and rang a couple of our clients who regularly send files into CollectIT to see how many of those debtors had left their business. Out of almost 40 files (ie. 40 debtors) none had left due to CollectIT being involved. Some had already "moved on" before the file was sent to CollectIT and others had "been moved on" by the creditor, but none had left due to their files being sent to debt collection. Even we were surprised by the zero figure!
The difference is our professionalism, knowledge and knowing the processes and systems available to pursue bad debts.
If you have a debt to discuss, give CollectIT a call on 07 834 9111 or email on firstname.lastname@example.org