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The much reported ‘payment culture’ in the UK sees more-and-more businesses highlighting late payment as their biggest commercial challenge and a significant threat to their trading success. With accounts receivable (AR) and accounts payable (AP) having separate and conflicting objectives, is this surprising? No, because with its debtors paying later and later, firms will pay creditor invoices late to balance cash flow.

Credit reference agencies provide you with information about your buyers; they even give you a credit opinion, and sometimes payment data, all designed to advise and alert you of risk. Sadly, when your buyer’s key account fails to pay them on time, your invoice may drop down the priority list for payment too. Now, despite your best endeavours, your cash flow suffers, and your risk increases.

How long do you wait for payment? Evidence shows that the chances of being paid decrease over time; at 90 days past due you are 30% less likely to be paid. What are your options?

Referring overdue accounts to a third party is one such option, and it comes with benefits. The benefits include extra resource; dedicated collection effort; time to focus on other tasks; free-of-charge recovery; educates your buyer to pay on time in future, and improves your cash flow. For your UK commercial accounts, we add our collection costs, and interest, to the sum outstanding using the Late Payment Act, recovering these 50% of the time.

We are proud of the client loyalty that we enjoy, but we never take it for granted, and here are a few of the ways that we strive to keep this commitment:

Our collectors understand the principle that companies owe money, but people pay bills. STA has attained Corporate Collector Accreditation from the Credit Services Association who said: “..This standard demonstrates the professionalism of your collectors and organisation, benchmarked against the highest industry standards.” Click here for more information
We recognise that every debtor company is different, and that’s why we negotiate with each one according to their solvency and liquidity
We offer 24/7 online reporting to both open and closed debts, with success rates, invoices, and individual debt charges, keeping you in control
Our clients’ have their appointed collector as well as a customer services contact
We are ISO 9001 quality accredited; sole UK member of the European Collectors Association; members of the Credit Services Association, and Financial Conduct Authority authorised and regulated. The Chartered Institute of Credit Management, Credit Strategy, and Periodical Publishers Association have all recognised our achievements with awards and nominations.

24/7 Online Reporting

As an STA debt collection client, you will have access to ‘Your Debts Online’ (YDO).

YDO gives you a transparent view of what we are doing with the accounts you place with us for collection. It’s a secure password-protected site where you can see our overall collection success; the status of every debt including your own collector’s notes, your invoices and statements, and the charges made on each and every account placed.

Find out more about Your Debts Online

Your Debts Online