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Choosing the Right Debt Recovery Partner
When unpaid invoices start to accumulate, it can be tempting to choose the first debt recovery service that promises quick results. However, not all providers are the same, and selecting the wrong one can do more harm than good. While securing payment for what you’re owed is crucial, your business’s reputation, client relationships, and integrity […]
Why Being ‘Too Nice’ About Late Payments Can Hurt Your Business
In business, relationships matter. Companies pride themselves on being approachable, understanding, and flexible with their clients. But when it comes to unpaid invoices, being “too nice” can quietly cost your business time, money, and even credibility. At My Debt Recovery, we often find business owners who delayed action because they didn’t want to “rock the […]
How to Handle Common Late Payment Excuses
As a business owner, few things are more frustrating than chasing late payments. Not only do they disrupt your cash flow, but they can also put a strain on customer relationships. Unfortunately, excuses for non-payment are all too common, and if not managed correctly, they can delay your ability to get paid indefinitely. In this […]
Implementing a Payment Plan For Debtors
When it comes to recovering a debt, offering a structured payment plan can be a simple, effective solution. Not only does it help a business to recover overdue invoices, but it also provides debtors with a manageable way to pay off their debts without significant financial strain. In this blog, we’ll explore what a payment […]
Can I Charge Interest on Late Payments?
Did you know that you can charge interest on unpaid invoices? It’s a completely legal way to recover compensation on money owed to you – as well as a great incentive some debtors need to pay their debts before being charged more. In this blog, we’re explaining the law when it comes to charging interest […]
How to Overcome Cash Flow Issues
Good cash flow management is critical for any business’s success, regardless of size or industry. It’s a harsh reality that even the most established and profitable companies can crumble if they don’t have the cash available when they need it most. What is Cash Flow? Cash flow is the amount of money coming in and […]
Can I Still Collect a Debt If I Have No Written Contract?
Many people mistakenly believe that a written contract is the only way to legally enforce a debt. While this is the ideal scenario when it comes to collecting a debt, it doesn’t mean that you can’t recover an overdue debt without one. In this blog, we’re looking into other forms of agreement that you can […]
Debt Recovery During the Festive Period
We’ve made it to December, and the festive season is fast approaching. But amidst all the holiday cheer, let’s not forget about those pesky outstanding debts. While it may sound a bit ‘bah humbug!’ to chase a debt during the holiday period, it’s still worth it. After all, you deserve to be paid and not […]
When to Seek Professional Debt Recovery Services
Chasing unpaid invoices can be a time-consuming and frustrating task, especially when debtors are unresponsive or uncooperative. We often find that our clients recognise that they need some assistance, but they’re not sure when the right time to instruct a commercial debt recovery agency is. Here are some key indicators that could signal the need […]
The Impact of Uncollected Debt on Mental Health
On 10th October, we celebrate World Mental Health Awareness Day. This year, with the theme set by the World Federation of Mental Health being workplace mental health, it’s an opportune time to discuss a significant factor that can negatively impact our well-being: uncollected debt. Late payments are a universal frustration, but for businesses, they’re more […]
