AGENDA WEST NEWS: the perils of giving credit to firms as a sole trader

If only there had been Checkaco a few years ago when I worked as a graphic designer in the 1990s. During a short period of a few months a number of clients – all limited companies – went bust owing me just short of £20,000.

They all seemed so professional. A magazine publisher, a private school, an estate agent, a mortgage company and a marine insurance outfit. A credit check on them would have revealed a string of County Court Judgements against their names which in anyone’s money is a red warning light.

Initially things went well with all the clients paying within 30 days of the date of my invoice. But after a few months a slippage occurred with me as a one-man business having to send reminders and phone calls to prompt payment. All the classic excuses were made – the cheque is in the post, we haven’t received your invoice, the person who signs them off is away etc.

As the delays got longer I would get increasingly concerned but foolishly continued the work. Soon payment was 60 days and then 90 days causing me to extend an overdraft and eventually to re-mortgage my home when they failed to pay completely. They all went out of business – and even asked me when they had begun new businesses from the same offices under a new name to begin supplying them with design work.

I refused – and had learnt my lesson the hard way. If a company fails to meet your credit terms stop supplying them. Before you even start work for a limited company check them out on Checkaco.

Checkaco was created for consumers so that they can quickly access very detailed information about a company. Using our secure search, you can view any company anonymously in seconds
Full peace of mind for £6.50 per company checked when you buy three reports for £19.50.
Quickly view a company’s CCJ’s, legal ownership, credit history, credit score and more.
Or buy in bulk: 10 reports for £37.50 (£3.75 each); 25 reports for £88.75 (£3.55 each); or 100 reports for £335 (£3.35 each)
 
Get the low down on any firm at https://checkaco.com/



For details about Checkaco email info@checkaco.com or visit the website https://checkaco.com/ 

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