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Overdue clients can have a huge impact on your cash flow and overall business health Cashflow can make or break a business. Profits are important, but the most profitable venture isn’t worth very much if you can’t get your clients to pay. Most businesses run into this problem at some point, however, the way that […]
You may or may not be surprised to learn that a client or customer’s debt can be completely wiped clean. Like most legal matters, debts are subject to a statute of limitations. If the creditor fails to take action before the statute of limitation expires, the debtor no longer has a legal obligation to pay […]
The recovery of debt from unpaid invoices is one of the most common debt-collection actions required. Typically, your business will have provided goods or services on credit and if after the contractual term runs out, be it 14 or 30 days, and the client refuses to pay, you […]
This is a question that many Aussie business owners struggle with and a question we get often. They understand the practical value of charging interest on overdue accounts, but they worry about the legality of applying additional charges. In short, the answer is yes, charging interest on overdue accounts is legal. However, this does not […]
While phone is probably still the preferred method for contacting clients and customers about overdue accounts, email does offer an alternative that can be beneficial. It offers a low stress option for contacting account holders, it can be a hassle-free way to get customers to pay when they are late on accounts, but it will […]
Debt collection is a stressful job for businesses, and although there is no sure shot way to identify a customer who will default, some early signs will always help to cut down on bad debt in your books. Usually, when a client does not want to, or is not in a position to pay back […]
The importance, long term benefits, requirements, and procedures behind a robust credit management system If you’re a small-to-medium business owner that wants to be as successful as possible, understanding credit management is a great way to generate genuine wins. Its use in your company will assist tremendously in ensuring that late-payments and non-payments by customers are […]
