It is often stated that the success of almost every business is dependent upon it carefully managing its cash flow. This is necessary to make a profitable business even more profitable and to assist a struggling business to survive.
If debtor accounts are allowed to remain outstanding beyond your normal trading terms then the business cash flow will suffer. The longer accounts remain outstanding the greater the risk that the business may never be paid at all.
In these uncertain financial times, businesses need to be careful that they do not allow their debtors to exceed acceptable limits. If you are owed money by a company that enters into administration or liquidation or in relation to which you have insolvency concerns, or by an individual who enters into bankruptcy, the value of your debt may be reduced substantially or it may be lost entirely.
If you take action a sufficient time before that occurs you increase your prospects of recovering the full amount of the debt. It is often the creditor which presses hardest for payment that is most likely to be paid. Velos & Velos provides a comprehensive and prompt debt recovery service.