Why is there a need for this service?
The average small or medium sized business is owed £27,000. They also wait an average of 39 days over and above the agreed terms to get paid. Often they don't get paid at all.
Most book-keepers and accountants are ill-equipped to advise on how to pursue a bad debt
Most businesses will turn to their book-keeper or accountant for advice when facing a bad debt. However most book-keepers and accountants are unaware, and ill-equipped, to advise on how to legally, and successfully, pursue a bad debt. Consequently many businesses will turn to a solicitor or debt collection agency to chase the debt, many of whom will charge £100 to £500 per hour (depending on location).
Quite often this is like using a sledgehammer to crack a nut, especially for smaller debts under £5,000. It is common for the total solicitors or agency fees for chasing a debt to outweigh the outstanding debt, meaning many debts simply go unpaid, often with devastating consequences for the business owed the money.
Lucrative niche market for book-keepers and accountants with the relevant knowledge
With the current economic downturn, there is an increased reluctance for businesses to pay their debts on time, if at all. There is therefore a lucrative niche market for book-keepers and accountants equipped with the relevant know-how and expertise to fill this gap more cost effectively than solicitors and large debt collection agencies.
With the option to charge per hour or percentage per case basis for this service, there is ample opportunity to earn a high income by providing a much-needed local service to businesses.
The PayCert process demystifies the process!
The process of making a claim through the County Court for an unpaid invoice is not as complicated as it may seem. Although the government and the courts have made the process available it is not widely known. We believe that it should be, hence the PayCert process.
The PayCert System
The PayCert Training Kit has been developed in conjunction with an experienced County Court Litigant and Credit Controller, to train book-keepers, accountants and business owners on how to issue a 'Notice of Issue of Proceedings' through the County Court and without the costs of a solicitor.
After reading the PayCert Training Kit, you will be equipped to reduce the risk of bad debts for your clients and small businesses, but more importantly be confident in getting unpaid invoices paid on time, every time.
Whats included in the PayCert Training Kit
The PayCert Training Kit covers the PayCert process in great depth including:
1. Training on reference checking for new customers.
2. Use of Company reports to check credit worthiness.
3. Bad Debt file control.
4. Letter-chasing templates inc. Letter Before Action.
5. The process and procedures of submitting a County Court Claim.
6. Tips and Advice on how to successfully manage the claim.
7. The Mediation Process.
8. The County Court Hearing process.
A full set of reference notes and templates are provided in the PayCert Training Kit.
Inclusion in the Directory of PayCert Trained Advisors
You will also be included in our directory of trained PayCert Advisors, specialists in getting invoices paid on time, every time.
You’re not alone in the process
Full support and advice is included in the cost of the training kit, including advice on the process and procedures of the County Court Claim Process, Letters Before Action and Pre Action Protocol etc.
You will have access to the PayCert Support Line, which is available via email Monday to Friday 9.30am to 5.00pm.
This service is available free of charge for the first 12 months, thereafter a nominal subscription fee of £10 per month is payable should you wish to continue with the support.
After completing the PayCert Training Kit you may take the option to complete a short test and return the test paper to us. If you achieve the pass mark you will be provided with a CPD certificate that will confirm seven hours towards your annual CPD.
Price / Order
To order the PayCert Training Kit please click here.
Alternatively, to read our most frequently asked questions about the PayCert Training Kit please click here.