Debt Collection for Retail WholesalersLast modified: August 10, 2023
Debt Collection for Retail Wholesalers
In the United Kingdom, there are over 110,000 wholesalers providing for a variety of industry sectors.
When they are not paid, this means they cannot buy new products which will result in no new business.
The issue of non-payment is one that a large percentage of wholesalers in the UK face. This is especially true for self-employed wholesalers that rely on every penny to survive.
The Association of Independent Professionals and the Self-Employed reported that around 60% of self-employed individuals experience delays in payment.
There are a number of excuses for why customers may withhold payment, including:
- Forgetting to pay the invoice as they are too busy.
- Disputing payment due to wrong invoice details (addresses, names etc.).
- Refusing to pay for goods provided as they do not match the product descriptions.
- The customer claims the goods have not been delivered by the wholesaler.
Are your customers using every excuse possible to get out of paying for the goods provided? If so, you need to take immediate action to recover what is owed to you.
Recovering Unpaid Retail Wholesalers Fees
When the cash flow of wholesalers is affected in any way, this can cause a lot of stress for the business.
It is common for individuals to at first try and independently recover any debts they are owed.
This can eat up a lot of valuable time and resources that could be used to further grow the business.
The best way for a wholesaler to recover fees from a customer is by using a professional debt collection agency.
Frontline Collections, for example, help hundreds of wholesalers annually recover what they are owed.
Since 2005, we have provided debt recovery services for private businesses and individuals where customers have failed to pay.
Our private debt collection solution is unmatched in terms of effectiveness and affordability.
This is achieved by providing the highest success rates in the industry which is complemented by our low commission rates.
We understand how important business relationships are, which is why we ensure to keep these intact by providing a professional service.
If you provided goods to a retailer and they are refusing to pay, contact our debt collection experts today.
Debt Collection for Retail Wholesalers – Frequently Asked Questions
What should I do if I have not been paid by a wholesale customer?
If your customer has not paid, you need to look for a debt collection for retail wholesalers solution.
How much will it cost to recover a debt from a customer?
The cost to recover money will change with each individual case. We provide the lowest commission rates in the industry, resulting in affordable service.
Can the debt still be recovered if my customer is overseas?
Yes, we can provide debt recovery services across the world thanks to our global debt collection network.
Should I use a solicitor or a debt collection agency?
The most beneficial way to recover monies is by using a debt collection agency. We provide our clients with a service that maximises results whilst minimising cost.
What are your debt collection success rates?
Our clients receive an industry-leading average success rate of up to 90% on undisputed debts.