When a business sells goods or services on credit, it issues an invoice detailing the transaction's terms, including the payment due date. The amount specified in the invoice becomes a trade receivable until the customer settles the debt. Managing trade receivables...
Running a business comes with numerous responsibilities. Ultimately, the company needs to be profitable, which means clients paying the agreed amounts on time. Unfortunately, it doesn’t always work out this way, and clients may refuse to pay up, despite you having...
Running a business comes with its share of downsides. One of these is having to deal with clients who do not pay their debts. There is no doubt that this can be frustrating, to say the least. So, what do you do if all attempts to collect the debt have failed? In this...
What happens if a business that owes you money informs you that it’s insolvent or an insolvency order is issued by the court? What does that mean for your ability to collect what it owes you? First, it’s important to know what insolvency means and to understand the...
Your business depends on a steady flow of cash, and when another company delays payment or defaults on the credit extended to them, it compromises the bottom line of your own business. As such, Florida business owners sometimes must explore their collection options...
As technology and options for streaming evolve, cable providers continue to find themselves dealing with the issue of digital piracy. Pirates who illegally distribute copyrighted content are tech-savvy, which may make people wonder if there is any way to stop them....
Collecting debt from a business can be tricky and sometimes stressful, but it's necessary to maintain your business's financial health. Understanding how to approach this delicate situation can help you get what you're owed without damaging professional relationships....
Florida state law provides multiple options for creditors that are not receiving the repayment that they require from debtors or borrowers. In certain cases, creditors can go to court to pursue a judgment and then enforce that judgment by obtaining a garnishment of...
When businesses that are owed money attempt to collect on their debts, they can sometimes be hindered in their efforts by borrowers who actively do what they can to keep from being held accountable for their repayment obligations. Many simply ignore repeated requests...
If you run a business, you understand the importance of receiving prompt payment for goods and services. After all, you have expenses you need to pay for, such as inventory and payroll. A debtor’s refusal to pay puts you in a difficult position, and you may not be...