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A Lesson In Debt Recovery For A Former Student

Debt recovery for the education sector is a varied and complicated issue, particularly for the higher education sector including universities and distance learning providers. Overdue payments can range from library or parking fines, to unpaid accommodation or even tuition fees. At a time when education system budgets are under severe pressure, it is of the utmost importance for any institution to stay on top of its cash flow and secure any late payments through a debt collector.

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Remember: Late Payment Debt Collection Shouldn't Cost You A Penny

 
You certainly know that chasing late payments can prove to be an incredibly time consuming and frustrating process. Credit controllers and account receivables work hard to guarantee the business has enough working capital, but with certain debts their options start running out. It is at this stage that a solicitor must be instructed to set the stage for potential legal action - at a price. 
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Late Payers: Don’t Let Them Get Away With It!

Late payment for goods or services can be fatal for your business. That's because financial liquidity is the oxygen that any business needs to survive. However, there is something you can do… Just take a look at Jane's story:

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How 'The Late Payment Directory' Can Help You Avoid Being Paid Late

Late payment and debt collection are regrettable but inevitable aspects of business life that are likely to continue for the foreseeable future; the debt recovery process is not one that any supplier wants to find itself caught up in.

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7 Late Payment Excuses & How To Deal With Them In Debt Recovery

Late payment is a common problem for all businesses. Large companies aren't excused from urging businesses to pay suppliers on time and calling for small firms to pursue those who put them at risk by delaying this frustrating everyday occurrence either, and they too face the battle to receive payments on time. Here we reveal the most common excuses for late payments and how you can deal with them.

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Legislation Can Help You Recover Late Payment Of Invoices And Interest

We frequently hear about the extent to which late payment is damaging UK businesses. While laws are in place, few take up their entitlement and so far, despite various ideas, suggestions and initiatives there’s been little change to the payment culture in

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4 Ways To Protect Your Business From Bad Debt

Good terms & conditions will strengthen a credit controller’s position when a customer pays late and protect your business from bad debt. However, terms & conditions are useless unlessthey have been properly incorporated into a contract between you and the customer. For example, there is a misconception that if you refer to your terms on an invoice, your terms will apply to the contract.
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Don't Let Bad Debt Cripple Your Business

Prevention is of course better than cure when it comes to late payments and bad debts in a business of any size and that means having robust terms and conditions in place to offer legal protection if a customer fails to pay when due.

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Fear Stops 58% Of Businesses Claiming Late Payment Compensation

The legal right many UK businesses have to claim late payment compensation is being stymied by a fear amongst firms that doing so will upset their customers and lead to loss of business. 

A recent survey of credit personnel* within small to medium sized businesses by Lovetts has found that 58%

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Tesco Move To Cut Payment Terms To 14 Days

Following the announcement by Tesco that it plans to cut its payment terms to 14 days, for suppliers that are small businesses, SMEs should not become complacent in the pursuit of overdue invoices, in the hope that other businesses will simply follow suit. Instead, it is urgent for SMEs to use Tesco's initiative as a signalthat a more robust approach to late payment may win them respect rather than lose custom as many SMEs fear.

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Small Business Commissioner Must Tackle Late Payment Of Debts Culture

"A mediation service will only support a fraction of the small businesses struggling with late payment", says Charles Wilson, Chairman of Lovetts, the debt recovery law firm.

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More Businesses Act On The Late Payment Act

Making It More Expensive For Customers To Pay Late Confidence Boosted By Ability To Recover Costs

More businesses are taking matters into their own hands when it comes to tackling late payment rather than wait for Government intervention according to new analysis by Lovetts, the commercial debt recovery law firm.

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