DEBT PREVENTION

Carrying out a credit check of your clients is best practice credit control. 

It’s the most transparent way to assess the credit liability of clients. 

Before performing credit checks on individuals or sole traders, it's important to have all the correct details and necessary documentation in place. This includes:

• Complying with privacy legislation 

• Having the right documents before conducting a credit check. 

Credit checks provide insight into the amount of credit to extend and help determine whether pre-payment is necessary. 

It's surprising how few businesses conduct credit checks, despite their critical role in preventing potential losses. 

Not doing a credit check can lead to 

• Difficulties in debt collection 

• Significant impact on net profit

By leveraging credit checks, businesses can assess payment history, and credit liability, and incentivise clients to pay.

 Proudly partnering with EC Credit Control, leaders in best practice credit management.