Category: Late Payment

  • How to Spot When a Customer Might Pay Late

    Late payments can knock any business off course. One minute your cash flow looks healthy, the next you’re chasing an invoice that should have been cleared weeks ago. While you can’t predict everything, there are usually signs that hint a customer could be slow to settle up. Knowing what to watch for gives you a…

  • What’s the difference between credit management and debt collection?

    Running a business isn’t easy and it often means juggling lots of different parts – dealing with money coming in is one of the trickiest. Two things that play a big role in this are credit management and debt collection. They’re often talked about together, but they actually handle very different parts of the payment…

  • How to Deal with Bailiffs Chasing You for Money

    Dealing with bailiffs can be stressful, but it’s important to approach the situation calmly and methodically. Bailiffs, also known as enforcement agents, are hired to collect debts. Understanding your rights and taking the right steps can help you manage the situation effectively. 1. Understand Your Rights Bailiffs must follow strict rules when collecting debts. They cannot:…

  • Funeral Expense Debt: Understanding It and How to Avoid It

    Funeral expenses can place a significant financial burden on families during an already emotional time. The cost of a funeral in the UK can range from £4,000 to £9,000 or more, depending on location, burial preferences, and additional services like catering or floral arrangements. For families unprepared for these costs, funeral debt can quickly become…

  • How to Spot the Warning Signs That a Customer May Pay Late

    Late payments can disrupt any business, affecting cash flow and causing unnecessary stress. Wouldn’t it be great to predict when a customer might struggle to pay on time? By identifying red flags early, you can take precautions, improve communication, and increase your chances of receiving payment on schedule. Here are the key warning signs to…

  • How best to deal with a Debt Collection Agency

    Dealing with debt collection agencies in the UK can be stressful, but by approaching the situation strategically and understanding your rights, you can manage the process effectively. Here are some best practices for dealing with debt collectors in the UK. 1. Understand Your Rights The primary law governing debt collection in the UK is the Consumer…

  • Navigating Financial Hardships: What to Do When You Can’t Pay Your Rent

    In challenging economic times, many individuals may find themselves facing the difficult reality of being unable to pay their rent. Whether due to job loss, unexpected medical expenses, or other financial setbacks, it’s crucial to approach the situation proactively and with a clear strategy. In this blog post, we will explore practical steps and resources…

  • Preventing Debt in Business

    Preventing debt in a business is a critical aspect of financial management that can help ensure long-term sustainability and profitability. Here are key strategies to avoid accumulating excessive debt: In conclusion, preventing debt in a business requires a combination of proactive financial planning, responsible borrowing, prudent cash flow management, and diligent monitoring. By adopting these…