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If You’re Thinking of Writing Off Bad Debt, Read This First
A common reaction of business owners to non-payment is to simply give up the pursuit and simply write money owing off as a bad debt. This is usually because the perceived cost and hassle involved with debt recovery seems to outweigh the benefits. Yet writing off bad debt means two things, you don’t receive the…
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Don’t Want To Go To Court Over Debt? Issue A Winding Up Order Instead
If one of your business customers owes you money and you don’t want to go through all the hassle and expense of taking them to county court and through a long litigation process, then a winding up order could be a better alternative. Winding up orders can be used when a company owes a debt…
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3 Occasions When You Might Need Help From A Debt Recovery Agency
Occasionally in business you will have the misfortune of dealing with clients who regularly pay late or worse still don’t pay at all. Attempting to get rogue clients or customers to pay up can sap the energy out of your business and an increase in stress levels. You also have the added dilemma of not…
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Which UK Region Has The Most Indebted SMEs?
Large amounts of debt can be a massive red flag if it’s a company you are about to enter into a business arrangement with. A recent survey however might help you decide which is the best part of the UK to be doing business in if you want to avoid potential problems with debt recovery.…
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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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Gym Membership Debt Recovery
As the annual January fitness craze begins to ebb away and gyms start to empty, the prospect of members defaulting on their payments or attempting to get out of lengthy contractual agreements is likely to rise once again. As we head towards spring, this is the most likely time gyms will be dealing with cancellations…
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Are You Keeping A Close Eye On Your Customers?
If you run a b2b business then you may already be aware of how difficult it can be to recover late payments. Often it can seem easier to stop chasing when the costs of doing so outweigh the investment you put in. This is why it’s all the more important to do some detective work…
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What Should A Late Payment Include?
Late payment or debt recovery letters as they are sometimes called can be an effective way to recover debts if they are put together correctly. Here’s some advice on how to compile your own letter and what and how much to include. Before we get started it is also worth noting that you may need…
