Business Credit checks are key to protecting your company against late payments and unpaid invoices especially when offering credit terms to your clients. Credit terms may seem like a great way to increase sales, but they come with big risks attached. That’s why business credit checks reduce your risk bad debt and any untoward cashflow issues.

Credit checking a new or current client will provide an insight into their ability to keep up with payments, their trustworthiness when it comes to paying on time and any other potential issues with regards to their financial standing.

Your procedure for assessing a client’s creditworthiness should be as comprehensive as possible. It can become perilous for your business if you provide goods or services to companies that don’t pay their invoices.

If you’re new to credit terms and want to know how to credit check a company, or you’re simply reviewing your current processes, speak to us at Premium Collections to help build a full picture of a client’s credit profile which will help you stay protected. We can confirm whether a business is paying its other creditors on time and complying with Companies House regulations in addition to whether they are profitable or not. If you take legal action internally or wish to pre-vet potential customers then the results of the report could save you time and money.

We can also prepare credit reports on individuals to include whether they have any prior history of insolvency and if they own their property.