When running a business it is easy to put unpaid bills to the back of your mind and give your debtors a bit more time, and hope they pay eventually.
Whilst that is certainly a noble stance, it does not necessarily make good business sense to forgo money that you worked hard to earn. Especially when cashflow is the lifeblood of every business!
When we get asked to assist a client with chasing a bad debt we usually start with a letter of demand. It is a simple and effective way to make your debtor aware that you will not merely sit back and wait for payment, you will not forgive the debt and will not stand for any more broken promises for payment. After all, you kept your part of the bargain – shouldn’t they?Read more