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Why credit check?

How to check credit worthiness

How much credit to allow

Collecting cash

Cheques and cheque clearing

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Exporting

Quick step guide

Advice for new businesses

Creating a Speedy payment process

BACS. Top Ten Tips

Suppliers checklist

Risk reduction techniques

Insolvency diagnostic questionnaire

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Credit Management Advice > How to check credit worthiness.

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Which accounts. Industry Credit Circles
Status report from credit agencies. Credit Insurers
Bank References Company Accounts
Trade Reference Companies House
Account Experience Register of County Court Judgments
Visits to Customers by Credit or Sales Staff Insolvency Service
Industry Credit Circles
Competitors in the same trade exchange details of slow payers and risks. Discussion of past events is permitted but collaboration to restrict further trade is not.
Credit Insurers
If you use credit insurance, your credit insurer can undertake the checks for you.
Company Accounts

The Companies Act requires public limited companies and their large private subsidiaries to state in days the average time taken to pay their suppliers and to publish this figure in their Directors report. This information provides small suppliers with a broad indication of when they can expect to be paid.
In addition, the Federation of Small Businesses league tables of the average payment times of public companies and their large private subsidiaries. This will allow small suppliers, over time, to monitor and compare the payment times of these companies.

The Federation of Small Businesses published the first league tables in December 1998.

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Companies House

The role of Companies House is to incorporate companies and also to gather and relay information on these companies. They hold details of all the companies registered in Great Britain including details on accounts, mortgages and directors information, including details of disqualified directors.
Information is available by visiting their offices in person for a company search or by requesting the information by fax, post or online. Companies House Direct also provides information on-line and produces a wide range of publications to help companies. They provide information to their customers, including a quarterly customer magazine.

Register of County Court Judgments

The Register, which is maintained by Registry Trust Ltd on behalf of the Court Service, is a public register open to all. It contains details of almost all money judgments from the County Courts of England & Wales and these remain on the Register for six years.
Any individual, firm or company can carry out a search of the Register at a fee of £4.50 for each search. In the case of an individual, the fee is payable for each named person at a specified address. In the case of a firm, for each firm at a specified address and in the case of a limited company, for each full corporate name, regardless of address, as the title is unique and plaintiffs can sue at any place of business. This search will give details of the defendant, the date and the amount of the judgment as well as the court and case number concerned.

Every search request must be accompanied by the correct fee either by cheque or postal order.

The results of a search are normally sent out by second class post within 24 hours.

Full contact details for the Register of County Court Judgments are contained in Help and Information.

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Insolvency Service

The Insolvency Service maintains two facilities which provide information to the public, the Register of Individual Voluntary Arrangements (IVA) and the Bankruptcy Public Search Room (BPSR). 

The Register of IVAs is available for members of the public and can be inspected in person or by written request for individual entry details. Telephone requests are not accepted. Enquirers are requested to provide full details of the individual for whom they would like to search. Enquirers will then be informed of the result of any search and, where a positive match is found, will be provided with a copy of the relevant register entry together with details of the Supervisor of the IVA (who must be a licensed insolvency practitioner), whom they may contact for further details. No charge is made for searches of the Register and the supply of relevant information.

The Bankruptcy Public Search Room maintains a record of bankruptcies from 1973 to the present. Details of bankruptcies dating from 1924-1973 are available on special request but are not available for public inspection and will not be searched routinely. Bankruptcy information is held on index cards filed in alphabetical order, which contain the name and address (at the date of the bankruptcy order) of individuals who have been made bankrupt in England and Wales. The date of discharge is NOT always shown. Searches can be made in person and also by post giving the name, postal address, occupation and date of birth (or approximate age) of the individual to be searched. Requests will normally be returned on the day of receipt, by post. Search requests by telephone cannot be accepted. No charge is made for this service.

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