Recovery is what happens when credit control has not. That is not a criticism — every business has overdue accounts — but it is a useful reminder that the cheapest debt to recover is the one that never goes bad.
Decide who you extend credit to
Credit is a privilege you grant, not a default setting. For larger accounts, a simple credit check and a signed set of terms before you begin work is ordinary commercial prudence.
Put your terms in writing
Clear written terms — payment due dates, what happens on late payment, whether interest or recovery costs apply — remove ambiguity. They also give any future recovery a firm foundation.
Make payment easy
Every point of friction in paying you is a reason to delay. Clear invoices, multiple payment methods and prompt invoicing all measurably shorten the time to payment.
Be consistent
A fixed escalation schedule — reminder, second reminder, formal demand, recovery — applied the same way to every account is what keeps receivables predictable. Debtors learn quickly which suppliers follow up and which do not.
Merion offers credit control advisory alongside recovery. If your receivables need attention, request a consultation.