It is commonly thought that bad debt protection or credit insurance can only be provided by the the incumbent invoice discounting or factoring company. It is a little known fact that credit insurance can be provided by an independent third party.
Often the bolt on products provided by banks and high street factoring and invoice discounting companies can be expensive and provide inferior cover. An independent can often provided greater levels of cover for the same customers , at a lower cost and with more protection. As far as we are aware there is only one or two high street finance companies that provide bad debt protection in the event of a protracted claim. Most high street funders only pay out in the event of insolvency which is in contrast to most independent insurance companies that as a matter of course provide cover in the event of a protracted dispute. Worth comparing then
Tags: bad debt protection, Factoring
