Small businesses often operate on tight margins, particularly in the beginning. This means that they require prompt payments to survive, and delayed payments can really take a financial toll. Fortunately, as a small business owner, you do have legal rights. There are...
It's frustrating to wait to be paid for products and services provided. You make phone calls, send polite reminders, and eventually end up working with a collection agency in the hopes of receiving the compensation you are owed. Then you hear the debtor is planning on...
Social media platforms are not just for personal expression and networking; they have also become invaluable tools for business purposes. This is true to the extent that it is often difficult for a company to sustain success if it does not maintain a significant...
Some debtors are not willing to give up assets to debt collectors. These debtors may actively hinder a collector’s efforts to locate and collect assets to resolve repayment obligations. There are several lawful ways debtors can safeguard assets from collections when...
Dealing with debts owed can be a frustrating experience, as sometimes the courts are the only recourse for creditors seeking to collect outstanding debts. The courts may proclaim judgment allowing creditors to pursue various avenues for debt collection. When judgment...
Client and customer debt is a silent strangler, slowly squeezing the life out of far too many companies. From banks to international traders, unpaid invoices can cripple operations, hinder success and threaten your company's very existence. Engaging a debt collection...
When you run a business-to-business (B2B) operation, one thing you quickly learn is that consumers aren’t the only debtors who can be slow to pay their bills. Some businesses seem to think that due dates on the invoices they receive from their suppliers and...
Running a business can be complicated. There are very few companies that can afford to go on without receiving prompt payments from clients. If you provide goods or services at a high standard, then it’s only fair that you are paid appropriately. Sadly, there are...
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...