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4 Reasons Why Your Debtor Isnt Paying You on Time

Alot of businesses find themselves wondering why their debtors arent paying them on time. This article will outline 4 reasons why your debtor isn't paying you. We understand that with the ever changing economy, some business will go through tough phases in their financial year which could lead to invoices not being paid. However, theres usually underlying reasons as to why they dont pay you on time. 

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6 Steps Your Business Can Take to Protect Cash Flow over the Holidays

Businesses face a unique challenge when it comes to cash flow during the months of December and January as many companies close their doors between Christmas and New Year's Day, so payment of invoices are often not processed until mid to late January. This delay in payments can put a huge strain on businesses that have to pay tax, VAT and rent during this period.

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The New Pre-Action Protocol For Debt Claims - What Is It? And How Will It Affect My Business?

As many of you will no doubt already be aware, the Ministry of Justice has released a new Pre-Action Protocol for Debt Claims that comes into effect on October 1st, 2017.

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6 Considerations You Should Make When Filing a Debt Claim

You get to the end of your credit control procedure and you still have some unpaid accounts, so, what are the options?

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How a Good Debt Collection Partner Will Grow Your Business

Running a business involves overseeing diverse business operations, including sales, marketing, HR and benefits, accounting, customer service, risk management, and business development.

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Don't Let Aged Debt Haunt Your Bottom Line

Whether you are a business owner, accounts receivable manager or credit controller tasked with pursuing unpaid debt, it can be a nuanced and challenging endeavor.

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Overpayment to Former Employees

Overpayment to employees, in particular former employees, is more common than you think. It can range from a simple payroll error such as miscalculating a payment of wages and or bonus/commission to seeking recovery of holiday pay, benefits such as a car allowance or train season ticket and even training fees from a former employee.

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Disappearing debtors: Improving Your Chances of Successful Debt Collection

Sometimes a debtor will change address without notifying creditors, leaving those creditors feeling pretty helpless as far as debt collection goes. 

As a creditor it might seem like they have gone for good, but remember: nobody really disappears off the face of the earth.

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Your 12 Point Guide To Writing A Debt Recovery Letter Before Action

Starting legal proceedings should always be the last resort when it comes to debt recovery. That’s because reminding a debtor of his or her responsibilities, along with the potential consequences of not paying, is often enough to secure compliance. In the final stage of correspondence this is done through a document known as a letter before action, or LBA.

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6 Things to Consider Before "Going Legal"

There are various points you should consider before "going legal". Some of these should be considered before you give instructions to a solicitor to warn the customer by letter that court proceedings will be started unless they pay the debt within a specific deadline, i.e. 7 days.Going Legal
 
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Low Cost Letter Before Action Collects Debt In 84% Of Cases

 

"Cut to the chase" urges Lovetts, in response to latest initiative to stamp out late payment

For roughly the cost of a coffee or daily newspaper, firms struggling with late payment can instruct a solicitor to issue a Letter Before Action and have an 84% chance of being paid according to new data from Lovetts, the commercial debt recovery law firm.
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€474,768.06 Paid To Steel Company Upon Receipt Of Lovetts Letter Before Action!

The Challenge

Lovetts' client, a steel company based in Cheshire instructed Lovetts on 8th August to send a Letter before Action to a debtor who owed €474,768.06. The letter gave the debtor 7 days to make payment directly to our client and warned if payment was not received,legal proceedings may be taken.
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