Research Shows the Importance of Taking Action to Recover Unpaid Invoices

Recent research from the Forum of Private Business shows that the late payment of invoices can threaten the profits, growth and even survival prospects of small firms but few use formal procedures to tackle the problem.

A recent success by the Debt Recovery department shows the importance of taking action to recover any unpaid invoices.  A client had previously been chasing payment without success.  Once legal action was taken and formal procedures used the unpaid sum was quickly recovered.  Through taking a sensible and practical approach the team recovered £85,000 for the client.  Had this debt not been recovered the client could have been unable to pay their own suppliers, creating a domino effect.  This could have had serious consequences for a number of businesses further down the supply chain. 

In times of economic uncertainty it is important that debts of any value are pursued quickly and efficiently.  Any delay in chasing payment can cause significant problems in recovering money due, especially if the client has doubts about the debtor’s ability to continue trading.

The Debt Recovery Team can advise and assist in recovering unpaid invoices, to contact the team click here – Debt Recovery.

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