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Sales are often described as the key to a successful business. In reality, however, keeping a keen eye on your cash flow is just as important. It is all too easy to overlook late payments as ‘one of those things’, but customers that pay late, or not at all, could be inflicting serious damage to your business.
By Rachel Harrison, Farleys SolicitorsIf the debtor fails to discharge the debt in accordance with the deadline imposed, then it will be necessary to issue Court proceedings to recover the same.
Our top tips for dealing with debt recovery:
- Check your terms & conditions
- Set a deadline
- Be organised!
- Know your opponent
- Be pragmatic
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