The Hidden Cost of Uncollected Debt

We all know the frustration of dealing with late payments. But for businesses, uncollected debt can be much more than just a minor annoyance. It can represent a significant hidden cost that eats away at profits and hinders growth. In this blog, we’ll explore the true impact of uncollected debt on businesses and why prioritising […]
Busting the myths about Commercial Debt Recovery in the UK

Facing unpaid invoices can be a significant setback for any business, impacting cash flow and creating unnecessary stress. It’s no surprise then, that many businesses find themselves entangled in myths and misconceptions surrounding commercial debt recovery. This can lead to delays in seeking solutions and ultimately, hinder their ability to recover what’s rightfully theirs. Some […]
What is a Letter Before Action?

A Letter Before Action is a formal communication sent by one party to another before initiating legal proceedings. This letter serves as a final warning, notifying the recipient of the sender’s intention to take legal action if a resolution to the dispute is not reached within a specified timeframe. It essentially gives the recipient […]
Mastering Cash Flow Management: Key Strategies for Business Owners

An uninterrupted cash flow is essential for every business, sometimes described as the heartbeat that keeps operations running smoothly and fuels growth. However, managing cash flow effectively can be a challenge. Whether you’re just starting out or looking to improve your financial management, here are some essential strategies to help you keep a keen eye […]
Top Excuses for Late Invoice Payments and How to Counter Them

Dealing with late invoice payments can be a real headache for businesses both big and small. While most clients, customers, suppliers etc aim to maintain a friendly and professional relationship by paying their invoices on time, a variety of excuses can sometimes cause delays. Here are some of the top reasons often given when invoice […]
How to Prevent Your Business from Falling into Debt

One of the most significant challenges businesses face is the threat of accumulating debt. Debt can cripple a business’s growth and, in severe cases, lead to bankruptcy. To ensure the long term success of your business, it’s crucial to implement strategies that prevent the accumulation of debt. Here are some effective ways to safeguard your […]
Five reasons why your invoices aren’t being paid

Late or unpaid invoices can be a significant headache for businesses of all sizes. Not only do they disrupt cash flow, but they can also strain client relationships and hinder your ability to operate your business smoothly. Here’s five common reasons why your invoices might not be getting paid and some solutions to address these […]
What is the debt recovery act? | Laws and regulations in debt recovery

In the UK there are many rules and regulations that businesses have to follow to recover commercial debt, or any debt at all. The debt recovery act is there to ensure that those who are owed money are able to follow a process which protects them and their debtors. If you are a business in […]
Interest rates on unpaid invoices – what are your options as a business with debtors

Interest rates on unpaid invoices may be something you as a business owner have considered. It may be the incentive some debtors need in order to pay their debts before being charged more. There are many reasons why you may consider applying interest rates on unpaid invoices; however, there are some things you may need […]
How does the winding up petition process work?

The winding up petition process can be confusing, however, at My Debt Recovery we work with you to help you understand how the winding up petition works. As well as the steps involved before and after the process. If you are looking to request a winding up petition, keep in mind that there are several […]