How the Credit Control Network system works.
1. You enter the details of your debtor onto the system.
2. Your debtor will be automatically emailed to politely alert them they have an active debt on the Credit Control Network. Many debtors will pay at this point.
3. The debtor is asked to respond to the email – their response will be saved in your account.
4. If you wish you can reply to any debtor messages that are received and your online conversation relating to the debt will be stored for future review if required.
The CCN system allows you to manage your slow payers in one place.
Further actions –
If a debtor fails to respond or gives you an unsatisfactory response to the initial chasing email you can choose to send the next email and set the debtor status to NOTIFY (this is totally at your discretion), at this stage the debtor will be made aware that should they not respond within 7 days their company details will be added to the Credit Control Network national database which is searchable by other members of the network. At this stage most debtors will immediately pay or begin dialogue where they had failed to do so previously.
The final stage –
Notified debtors can be set to LEGAL status, the debtor will be informed by email (again at your discretion) that you will be taking legal action should they fail to now pay or raise a query – we strongly advise at this stage you change the contact email on the debtors account to that of the managing director of the debtor company – this has been shown to increase payment at this stage by nearly 30%.
We are happy to refer your debtors to our recommended specialist solicitors where they reach legal status, however you are in no obligation to follow this course of action. You pay us no more than our annual membership fee to use our service.
The Credit Control Network Limited has historically improved debt collection for our customers by over 37% compared to traditional credit control methods.
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