Invoice payment

[simplicity]

Hello


I was wondering if anyone uses a company to pay chase payment of invoices and make payments before the invoice is paid?

Not sure of the correct name - perhaps invoice factoring or something?

Basically may agency are slow so was looking for an intermediary company to pay me while the agency is chased. Not sure if this even exists.

S

[craig1]

Hello


I was wondering if anyone uses a company to pay chase payment of invoices and make payments before the invoice is paid?

Not sure of the correct name - perhaps invoice factoring or something?

Basically may agency are slow so was looking for an intermediary company to pay me while the agency is chased. Not sure if this even exists.

S

My advice would be that, unless you're sure you're never going to get paid or are approaching bankruptcy, leave factoring well alone. The cut they'll demand is far greater than you'd lose by chasing yourself.

[simplicity]

thanks for the response - its just annoying dealing with an agency that doesn't pay on time.

[Pondlife]

thanks for the response - its just annoying dealing with an agency that doesn't pay on time.

If you google pay on time it's amazing what you can find.

https://payontime.co.uk/

[Wanderer]

If you google pay on time it's amazing what you can find. https://payontime.co.uk/

Yeah, send them an invoice for late payment penalties and interest and watch them sort their act out, pronto.

[simplicity]

I'm using an umbrella company but might keep this in mind when I am ltd.

[JamJarST]

I'm using an umbrella company but might keep this in mind when I am ltd.

Hang on, you said your agent was a slow payer, but now you say you are with an umbrella, so which one is the slow payer?

[simplicity]

The agency is the slow payer - the umbrella pays me as soon as they receive the money. The agency have admitted they have delays with the payment. They have 30 day payment terms and it sucks...

[JamJarST]

The agency is the slow payer - the umbrella pays me as soon as they receive the money. The agency have admitted they have delays with the payment. They have 30 day payment terms and it sucks...

I thought Umbrellas paid on set dates regardless of whether the client had paid yet, or am I wrong?

[kingcook]

I thought Umbrellas paid on set dates regardless of whether the client had paid yet, or am I wrong?

Umbrella's will wait til paid by the agency (at least in my experience of them). Stands to reason really.... why would the brolly pay out with no money, and all they get paid is around £20/wk on average