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Debt Recovery - All you need to know

Posted in Debt Recovery on 23rd May 2022
Understanding ways to recover a debt There are various ways to recover a debt in England and Wales. The most appropriate route depends on various factors including whether the debt is disputed, the financial position of the debtor, whether you are happy to go to Court, and of course, how much time and money you are willing to invest to resolve the matter. What are your options when a customer or client has not paid you? When a debtor refuses to pay, you should always try to resolve the situation amicably either by first writing to the debtor yourself...

Unpaid Debts Kill Small Businesses, Don't...

Posted in Debt Recovery on 4th Nov 2019
In June 2016, the Association of British Insurers (ABI) reported that the number of insurance claims made by UK business facing bad debt had risen to its higher number in ten years and in April 2019 the Small Business Commissioner reported that on average, 32% of invoices were paid later than agreed terms. Specters understand the impact that bad debt and late payment can have on a small or medium sized business. Debt affects cash flow, which in turn affects the ability of your business to cover short-term liabilities, which can lead your otherwise...
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