Anbody used invoice factoring?

DKLS

I used to work for RBS commercial services, and it was a nightmare, the service was sold to business's that they would be allocated their own personal Credit Controller, In reality I had over 400 clients and 3500 of their customers to chase debts for, personal service my arris.
Every month I was the top of the collection league, and wasnt exactly busting a hump, it got to the point that my colleagues were asking me to slow down as I was showing them up.

Before considering any factoring company, take a look at your own credit control procedures, How many days on average are people paying? If its over 45 days there is something wrong, and you need to firm up your procedures.
Credit control isnt a black art, and you should be on top of your accounts at all times.

teenee60

quite a few years ago,we used the hsbc for invoice factoring.
at that time it was good,we used it for what we needed it for.
i think it was a 2 year aggreement,towards the end i was counting the months.
so if your going to use one,go for the big boys!!