News articles – Debt Collection and Recovery
If getting paid on time is a growing problem for your business, is it time that you reviewed your invoices and terms and conditions to ensure that they are not leaving you open to the risk of bad debt?
If ever there was a case which underlined the benefits of legal advice it must be that of a householder who represented himself in a marathon legal struggle over a credit card bill and ended up bankrupt under a cascade of debt and legal bills.
Prompt payment of invoices can be painful for companies under financial pressure – but delay can lead to court action and the additional burden of legal costs.
TW's head of Debt Recovery, Graeme Weir, looks at the ten most common mistakes business owners make when it comes to tackling debtors, and advises on the best course of action.