Many people when they are in the process of claiming the protection payment insurance, then they will also wonder who they should go to. The financial claims specialist will be so helpful but only if you know all the services that they will offer. The financial claim specialist they have been educated on how they can help you out when you are claiming the protection payment insurance. The services that they will offer will be to make the whole process easy for you, and if you are entitled to the claim, they will make sure that you will get just that. Click here for more information on the no win no fee ppi. Continue reading to understand some of the services that are offered by the financial claim specialist.
They will review all the terms of the loan so that they can tell you if you deserve the protection payment insurance claim and if it’s possible. There is no need of wasting your time on something that you will not get in the end. That’s why asking the financial claim specialist if he can review is you are capable of getting the claim will save your time. He will go through all the reason why you might miss the claim and if it’s something that can be changed he/she will advice you on the best way to go about it.
Review claim insurance
They will review the claim that you are requesting and the documents that you have submitted. When they review and they find out that payment is necessary, then they will make plans that are needed to ensure that you get the payment. If there is something that is missing, they will call you back and request that you get exactly what is missing and they will ensure that you get the very best. If they have reviewed the insurance only for them to discover that you are not entitled to any claim, then they will explain the reason why.
Authorizing claim payment
Once they have reviewed the insurance, they will be the last once who will ensure that you get the payment. He is supposed to sign and call you in so that you can get the payment and make sure that you sign some documents. They will ensure that the payment is paid on the exact time that the clients will be promised and the exact day. If they are any issue with the payment, then the financial claim specialist will be reliable, and he is the person that you should visit.
Invoice factoring is selling invoices that you have raised on your customer. An Invoice Factoring Company is prepared to buy good factors and pay you up to 80% to 85% of the invoice value. They will collect the invoice amount from your customer and pay you the balance amount after deducting factoring fees.
The benefits of invoice factoring
. Instant cash:
The factoring process is a boon to businesses that face situations like slow payments from customers. Though a customer may be an owner of big business, yet payments may not be received from him immediately on raising the invoice. Sometimes smaller companies are affected by not getting new business due to the lack of instant cash flow. They cannot bid nor have provisions required to start a newer project. In such situations, if the business invoices are sold, instant cash is made available. They may have to agree on different terms to acquire new business. The complete factoring process may not even require more than 48 hours if your relationship with the factoring company already exists.
. Working capital:
Though the customers may pay you later, any business is required to have a working capital. You require money to take care of some immediate expenses like payments of rent, taxes, salaries, etc. In such times, if you sell your invoices to the factoring companies, you can get cash to take care of these expenses. If your sales increase, even though with a lower rate during a recession, you can make use of these sales to gain some capital. Your financial needs would thus be taken care of.
. Eliminate bad debts:
If you have selected non-recourse factoring, then it eliminates bad debts from your financial statement, as the factoring company takes up the risk of non-payment by customers upon themselves. This helps you not to have many bad debts, which otherwise would reflect badly on your financial status. When you select your customers, you can take the help of these factoring companies and list only those credit worthy customers that matter to these factoring companies.
. Early payment discounts:
When you get cash in hand, you can use this to pay all your dues and get an early payment discount. You may also find it useful to make immediate or even down payments on the purchase of raw material and gain discounts from these payments, which helps you to reduce your manufacturing costs. Though the margin is reduced due to factoring, such discounts help you to improve your earnings.
By using the factoring company’s services, you can face recession to some extent. With your finances in order and with the help from these factoring companies would ensure that you are careful in your financial matters and thus sustain through the tough times.…