Tag: Business Debt

  • 6m Brits would pay for financial advice if it was cheaper

    A study has found that almost 6m British adults would be willing to pay for financial advice if it was more affordable. As both households and businesses in the UK face a debt crisis, the results of a study suggest that many people are not getting access to the financial advice they require. The report,…

  • Tips for encouraging customers to pay on time

    Late payments can have a dangerous knock-on effect to your business’ cashflow, as well as costing you time and money to chase them up. The safest way to do business is always to take money upfront. Failing this, it’s important to take whatever measures you can to encourage customers to pay you on time, every…

  • Benefits of automating accounts receivable tasks

    Automating accounts receivable tasks can save time and help to collect customer payments quickly and efficiently. Outstanding payments from debtors are one of the key reasons that small businesses run into trouble. Not only does chasing late payments waste valuable time, late payments can also have a devastating effect on your business’ cash flow. Keeping…

  • What is the government’s ‘breathing space’ scheme?

    The government’s ‘breathing space’ scheme could offer those in debt a valuable 60 day respite period to seek help and get their finances in order. The breathing space scheme, also known as the debt respite scheme, was first announced by the government in October 2017. The scheme is intended to give people time to get…

  • 3 steps to determining a customer’s creditworthiness

    If you supply customers with a product or service, then offering a credit facility is a great selling point, but it doesn’t come without its risks. Whilst it is impossible to completely safeguard yourself from non-paying customers, it pays to have a system in place for checking a company’s credentials before you commit to working…

  • CCJs Issued Against Businesses on The Rise Again

    After a long period when the number of CCJs issued against businesses was in decline, the third quarter saw a sharp increase. This suggests that companies are currently far more willing to take their claims as far as a CCJ than they have been for quite some time. 32,629 business CCJs were issued in the…

  • 3 Things You May Not Know About the Enforcement Process

    If you have taken someone who owes you money to court and you win the case, then the debtor has only a limited time to pay you what they owe or face the prospect of bailiffs coming to their premises. This part of the enforcement process is governed by the following actions you may not…

  • Recovering Debt from Outside Within the EU

    Recovering debt from companies outside the UK is no easy task for the average business owner but despite the popular myth that it is impossible to recover money from foreign companies, the EU does offer similar protections to those in the UK. All this of course may change if the UK fails to reach a…