Many contractors and small businesses are often reluctant to take a hard line on late payers for fear of losing future business opportunities. Recent changes to the level of costs that can be recovered on pursuing debts could therefore be a helpful way to encourage prompt payment without it becoming personal.
One of the most important aspects of good credit control is to know who you are dealing with. We are often asked to pursue debts owing, only to discover that things are not quite as they appear.
By way of example, are debt owed by individuals or companies? Or by someone in a personal capacity or by their business?
One in five SMEs say they would like to apply for lending in the future, but doubts about the current economic climate will stop one in eight from doing so, according to research from BDRC Continental.
We’d all like healthier-looking cashflow, whether on our business or personal accounts – it means less stressing about overdue payments, and more free funds for spending on purchases and investments.
This month, we’re placing the spotlight on Jenna Mistry, a much-valued member of the Cash Protection Agency team who’s making a name for herself across the CPA‘s online presence.
What can I do, I have obtained a County Court Judgment but I have not received payment from the debtor?Category: Company News,Credit Control,Debt Collection,Small Business Cashflow,Small Business News | 0 Comments
A County Court Judgment (CCJ) will be registered as public information for a period of six years.