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If the small firm has not had to recover any bad debts previously and has worked with the large firm for a few years, this unpaid invoice may come as an unwelcome surprise. It may not be so unusual, given that the country is still in ]a poor economic climate, that some firms have to make serious decisions about how to stay afloat. It may be that the large firm is in just such a condition and feels that restructuring is more urgent than paying an invoice. From the small firm perspective the payment of their invoice is a high priority since it can mean a big difference to their future and if they see that the large firm is playing for time then the small firm may feel that Debt Collection is their only path.

When the small firm surveys the market to see what Debt Collection solutions are out there they may well see the usual solutions of solicitors and Debt Collection Agencies as the safest path and a DIY solution such as Debt Collection Software as not worth looking at. Their negativity over Debt Collection Software may be over the perceived risks; perhaps the large firm may not take Debt Collection letters seriously if they weren’t sent from a solicitors or Debt Collection Agencies. They may also fear that they may spend money on a Debt Collection Software package only to find that it has to have a better specification PC than they have on hand. Finally they may fear that they spend money and time on the Debt Collection Software and composing Debt Collection letters but are unsuccessful in getting the large firm to pay the invoice.

These misgivings are largely groundless, since the large firm is more likely look at the Debt Collection letters wording rather than its overall look and feel. By doing meaningful research the small firm should be able to ascertain what a variety of Debt Collection Software packages need in terms of computer and communications equipment and so probably avoid the upgrade trap. Finally, the chances of failure are surely part and parcel of starting up a firm in the first place and if the owners of the small firm have enough entrepreneurial spirit to do that then clearly the challenge of getting Debt Collection Software to produce results would not be too difficult for them or their employees. Debt Collection Software can start from £40 for a decent package, certainly worth the risk.

The usual Debt Collection solutions of solicitors and Debt Collection Agencies may be safer if the small firm wants to be hopefully sure of getting the invoice paid, but this comes at a charge, something like 10% to 20% or more of the final invoice value, which could be a significant trade-off to a small firm. Also, in this economic climate there are more Debt Collection Agencies and solicitors offering commercial Debt Collection in business but can they all be trusted to treat the large firm with professional respect or will they use any procedures they see fit to recover the debt and so could ruin the working relationship that the small firm has built up. So if the small firm doesn’t pick from the good solicitors or Debt Collection Agencies they may be in trouble.