Collecting debts can prove to be a tricky task. Many of our clients voice concerns about the difficulties of chasing a debt, without chasing away their clients. Indeed, debt collection practices have come under increased scrutiny in recent years, with many people expressing a negative opinion towards unorthodox debt recovery methods. Here, we look at why a debt recovery letter from a solicitor may be more beneficial to you than a letter from a debt collection agency.
Late payment is a common problem for all businesses such as accountancy firms, recruitment agencies and contractors.. 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..Here we reveal the most common excuses for late invoice payments and how you can deal with them.
If you're reading this you're probably wondering how you're ever going to recover debts from unwilling debtors. Recovering debts is never an easy step for many businesses to take because of how time consuming it usually is. This is why we have issued out clear and easy steps to recovering your debts. After reading this, you will know the necessary steps to take when looking to recover your commercial debts.
Businesses often wonder how effective a Letter Before Action (LBA) actually is compared to sending their own warning letters to their debtors. After reading this guide you will uncover the true reasons as to why LBAs are so effective
Alot of businesses are familiar with sole traders / individuals who simply cant pay their invoices on time. There are many reasons why sole traders dont pay such as lost invoices, unexpected clauses they didn't read into to unexpected charges that they could not afford. Regardless of the reasons, as a business you need to be resilient in terms of receiving payments from individual/sole trader debtors
Alot of businesses find themselves wondering why their invoices arent being paid on time. This article will outline 4 reasons why your debtor isn't paying you. 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.
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.
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.
You get to the end of your credit control procedure and you still have some unpaid accounts, so, what are the options?
Running a business involves overseeing diverse business operations, including sales, marketing, HR and benefits, accounting, customer service, risk management, and business development.