Debt Recovery Guides

A build-up of unpaid credit or non-payment from customers can create huge problems with cash flow for even a long-standing and well-established business. It is therefore essential that you understand how best to recover business debts, from the correct procedural aspects to the crucial economic considerations when contemplating taking legal action. For our 5 tips to chasing and preventing business debt from arising, click here to read our guide. 

The law relating to debt recovery can often be complex, with comprehensive procedural rules that must be complied with. If these procedural rules are not followed, you risk receiving significant penalties from the courts by way of costs or other sanctions. For more information on how to comply with regulatory rules and how the court penalises procedural failures, read our guide here.

Credit control is vital to improving cash flow and preventing the build-up of bad debts for a small business, especially in the early years. Credit control is the process by which a business makes certain it only gives credit to customers who can pay and, just as importantly, can pay on time. If you're unsure how to make decisions when giving customers credit, or how to encourage your customers to pay, our guide can help you.