Sheila Chadha: The Credit Collections Company

Sunetra Senior Wednesday 02nd November 2022 13:36 EDT

In a tumultuous economic climate, The Credit Collections Company emerges to counterbalance at least some of the confusion. Drawing from over 25years of experience in her sector, CEO and Chartered Credit Manager, Sheila, established her principled financial enterprise to help small business owners better understand and internally regulate their credit. In effect, if a company has substantial amounts of money due to them and cannot effectively collect, they risk going bust: “Just one important customer who’s unable to pay on time can ruin your company,” Sheila shared with us. “Many businesses have a backlog of debt for periods of many months or sometimes years. This includes massive organisations who are household names. One needs to watch money that is owed or things can get very quickly out of hand. Cash Flow is King.” Of course, generally, big corporations can afford to make a few big mistakes and still thrive. This is far less likely for vulnerable rising businesses who are always going to be harder hit. To this end, The Credit Collections Company focuses on levelling the metaphorical playing field. “Personally, I wanted to give back to society,” the founder continued. “Many small or sole businesses do not know how to truly manage outstanding intake, lacking the professional know-how. Even larger outfits, as mentioned, can benefit from reinvigorating their approach.” Indeed, Sheila does additionally consult for multinationals to effectively fund her currently burgeoning venture.   


The Credit Collections Company does not simply ring customers to chase invoices, though debt recovery is offered as a specialist service, but can further introduce a structure of many innovative methods that “empower small business owners” to not only protect but further grow respective wealth. In truth, the franchise puts forward a profitable constructive philosophy to compensate for a social gap: “I wanted to become the Martin Lewis for Credit. Martin teaches people how to successfully manage their personal credit and I want to do the same, but for business owners, so the average person can feel in control of their livelihood e.g., many SMEs are struggling to collect amounts owed, much less conquer credit, and often this expert task is handed to a secretary, receptionist or assistant who may or may not succeed.” Here, The Credit Collections Company brings together accountancy, law, IT, marketing, public relations and management to cover every aspect of credit and debt recovery and educate SMEs on the otherwise mystified world of credit, or, maximising one’s individual income. Sheila’s organisation directly addresses the fact that collecting small debt is a tricky manoeuvre when the issue is unlikely to be taken to court yet left as a burdensome stress on the shoulders of an overwhelmed owner. “The language of money is universal but the way you approach it must be nuanced. People think only huge companies can give credit and that it's limited to astronomical sums. Similarly, they believe forceful tactics are necessary to extract money. This is not the case – as long as you responsibly allocate and assertively communicate with the concerned clients, it is possible to introduce credit whoever you are. It is also crucial to be sensitive when following up on money owed; your business can really flourish. I always use the example of considering whether you would lend £10.00 to someone as a small example of the practice of analysing risk which is central to the industry. Whether or not you hand over a certain amount to someone entirely depends on whether you trust them to return it, and this, in turn, is dependent on the person’s known character.” Sheila has worked across many sectors, from Telecoms and Tech to Aviation and Insurance. She was also granted member status by the Institute of Credit management. “My company provides: background checks on credit history, financial and strategic advice based on this data, legal options including drawing up appropriate contracts that encourage timely payments, firm communication that ensures remaining payments are promptly collected and lasting and affable relationships with clients in the process. I always say when somebody owes you money, you can attract more with honey than vinegar. We know how to listen to clients and build trust between the customer, us and them. We can even suggest alternative amounts for credit on a sliding scale according to a customer’s solvency. In terms of debt recovery, our business can also help business owners with debts as small as £200.00 or implement our ‘pay as you grow’ consultancy services from £50.00 per hour.” A marriage of logical numeracy and emotional intelligence then, The Credit Collections Company underscores measured mutual respect as key in achieving success. “You cannot be aggressive or narrow-minded – it’s about being attuned as well as self-assured.” Finally, The Credit Collections Company highlights an overall very pertinent truth: “People are, by nature, more reactive than proactive but it is much better to embody the latter.” Indeed, simply sensible regulation of finances could broadly revolutionise a lot. The wholesome company hopes to grow organically alongside its customers and expand nationwide moving forward. 

Sheila will be featured in a book about women's struggle and individual survival which will be announced by Founder of the All Women's Club Varsha Hathi.

She is also a semi-finalist for the Dell Women Entrepreneur Network.


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