Have You Spotted The Impending Financial Problems Of Your Customer Or Your Business?

If you are concerned about the financial position of a customer, you will want to reduce the probability of suffering a bad debt. Do any of the following apply?

Increasingly slow payments?
Round sum payments on account
Always being fobbed off with an excuse for non payment
Payment by post dated cheques
Old invoices only paid when a new delivery is needed
Rumours in the trade about the use of new or alternative suppliers to increase credit facilities
Disputing invoices to delay payments

What about the financial health of your own business?

Do you rely upon one customer?
Are you borrowing heavily to keep the business running?
Are there a lot of outstanding debts or bad debts?
Have you received 7 day warning letters, writs or statutory demands?
Do you spend more time managing your cash flow than the rest of the business?

If any of the above apply you may find that a Company Voluntary Arrangement will solve the immediate problems and the threat to your business.

Whatever the solution may be, you need to take advice before it is too late

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