Cash flow is critical to any kind of business. If customers start to stall on payments then the situation can rapidly get out of control. It’s enough to sink any company.
A culture of late payment has crept in to British business. Invoice terms might be thirty days, but all too often customers stretch those out and don’t pay for goods or services for sixty or even ninety days. However, eventually they do pay. It’s an unfortunate fact of business that there are some bad apples out there. Some fly by night operators have no intention of paying and that’s when an organisation might need to consider a debt recovery strategy.
It’s best not to go in all guns blazing at first. The best course of action is to send some polite but firm letters. Follow up with phone calls and if these are ignored or not returned then it might be time to get serious and call in debt collection solicitors.
There’s principle at stake here. Why should any company get away with not paying for goods and services? And there’s practicality and necessity. That missing cash leaves a big whole in company finances. Thankfully there are law firms out there specialising in debt recovery. They make it their job to chase up missing payments and bring those companies who don’t pay to court if they have to.Debt recovery/debt collection solicitors
Honest businesses have recourse to the law. Debt collection solicitors are a partner every firm is going to need at one time or another. They offer a cost effective and efficient way of chasing up missing payments and ensuring organisations don’t miss out on the money that they are owed. There’s never a reason to simply give up. Specialist solicitors can pick up the trail and make sure those invoices and debts get paid.
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