23/10/2026
Could your business survive a major late payment?
Good credit control isn’t just about chasing debt…
…it’s about setting clear expectations from the start and protecting your cashflow.
Here’s what a good credit control process looks like:
✅ Invoicing promptly and correctly
✅ Sending regular statements and reminders
✅ Following up with a 2nd reminder, then a final reminder
✅ Placing the account on hold if no payment is received
✅ Issuing a legal letter (with interest at 8% + Bank of England Base Rate compensation, and legal fees if needed)
Credit control is a key part of running a successful business.
When was the last time you reviewed your credit control system?