The last thing you need as an evolving business is a customer’s insolvency damaging your ability to progress and grow. Thankfully, our Bad Debt Protection service will put your mind at rest. Working in conjunction with our Factoring or Invoice Discounting services, we provide 100% cover on credit approved debt, ensuring you can grow your business with complete confidence.

How does Bad Debt Protection work?

With Bad Debt Protection, you get our experienced team on your side. They credit-check existing and prospective customers for you and offer cover on each invoice at a level they feel is appropriate, up to 100% of the invoice value.
When you receive our Bad Debt Protection service you’ll benefit from our experienced team. It’s their job to credit-check existing and prospective customers for you and offer cover on each invoice at a level they feel is appropriate, up to 100% of the invoice value.
Sometimes referred to as ‘Non Recourse Factoring’, Credit Insurance, Bad Debt Protection is perfect for Factoring or Invoice Discounting clients who want increased peace of mind. ‘Non Recourse Factoring’ is a type of Bad Debt Insurance, which means that we recover any approved debts from your customers and have no recourse to you if they fail to pay.

Your benefits

The obvious benefit of Bad Debt Protection is that you can get on with your business, safe in the knowledge that your customers are being professionally credit checked and that you are fully protected, should they fail to pay. No more worrying about the viability of your customers; no need to holdback your business development with concerns over new customers.

  • Up to 100% protection – that’s sometimes 20% more than others will offer
  • Award-winning personal credit advice, helping you to build a stable business
  • One of the most experienced teams in the industry, with an average of 20 years experience per team member
  • Free credit checking on new customers
  • Typically higher credit limits on your customers
  • Fast claim payments, with minimal paperwork
  • Competitively priced service, also available on export activities
  • Automatic pay-out on approved invoices post 120 days for factoring clients

Who can use it?

Bad Debt Protection service is available to all of our Factoring and Invoice Discounting clients.

Why Omnifactor?

Unlike some other Factoring companies, our Bad Debt Protection service can cover up to 100% of the invoice value rather than the 80% or 90% usually offered. What’s more, you’ll have our team proactively working for you, even when you don’t yet know you need them.

With Omnifactor you can expect:

  • Free credit checking service on all new customers
  • Higher credit limits
  • Reduced management time
  • Simple claims procedures