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Advice On Calculating Late Payment Costs
Most business owners have experienced a late paying client at one point or another. Trying to recover the money can be a frustrating, time consuming and sometimes even a costly process. The latter can often put people off pursuing debts for fear of losing more money than the amount they are trying to recover. Fortunately,…
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Why Time Is Precious In Debt Recovery
A common issue when businesses decide to pursue their customers for unpaid bills is the amount of time that has passed before they get to that stage. Some businesses might leave it for more than a year before they decide to pursue debtors and this often creates some ambiguity into what rights a company has…
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Debt Recovery Just Got Tougher For Businesses
…At least when it comes to recovering money owed by individuals and sole traders following the introduction of a new set of rules introduced this month to ‘speed up’ up the debt recovery process. For anyone who isn’t aware, the new Pre-Action Protocol for Debt Claims came into force this month (1 October). The new…
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3 Top Tips To Help You Recover Debts
Being owed money is an unfortunate side effect of doing business for many company owners and recovering them can cause further pain when the process becomes a long, drawn out affair, which is often the case with bad customers. So help you recover you debts as quickly as possible here are 3 top tips to…
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Why Should You Write Off Debt?
All too often in business you hear stories from business owners say they had to write off a debt that went unpaid even though their client or customer is able to walk off into the sunset and benefit from all the hard work they put in. So are they doing the right thing? Should they…
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Should You Use A Debt Collection Company If You Are A Sole Trader?
The number of self-employed individuals working as sole traders has increased dramatically in recent years as technology has brought new freedoms to work self employed doing a greater variety of jobs than ever before. Self-employment is no longer confined to tradespeople and high flying consultants it is just as easily available to people with all…
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When Is It Too Late To Recover Payments?
A common question for people seeking payments for overdue invoices from customers is when is it too late to recover payments? While we all like to think that our customers will do the right thing and pay on time, sometimes you will come up against customers who have no intention of settling their invoices. Weeks…
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3 Questions To Ask A Customer That Hasn’t Paid On Time
Sometimes customers decide not to pay, sometimes even if they have always paid on time before. When this happens it can be frustrating and time consuming trying to find out what might have gone wrong to cause them not to pay and then more time chasing the payment. Sometimes it could be all due to…
