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stevensdrake responds to cash-strapped businesses

Posted
November 21, 2012
Debt Collection

stevensdrake has responded to an increase in enquiries from businesses suffering from poor cash-flow, by launching a free consultation service to provide help and advice for Sussex businesses. Commenting, Graham Penn, Partner at stevensdrake, said: “Christmas is a time for giving, but also seems to be a time for bad payers to delay payment of your bills for even longer. The aim of debt recovery is either to make your invoices a priority in the “to pay” list, or, if that fails, to compel payment – it’s not rocket science, but it’s amazing how many businesses are crippled by poor cash flow especially at this time of year”. The free sessions will help people focus on unpaid invoices and the prospects for early recovery. Experts at stevensdrake will provide help on understanding what your rights are, what formal proceedings are at your disposal and both how, and when, to use them. Graham added: “Legal action will always work best when it is used efficiently, is targeted, and as a complementary component to day-to-day credit control. Unfortunately, it will not remedy poor credit giving decisions, as an impecunious debtor will still be unable to pay. Invoice discounting or factoring, is not always appropriate and legal processes can give companies a good affordable alternative. Correct targeting of cases which are suitable for proceedings and enforcement is important. There is often no point in suing for tiny amounts; for claims where you know full well there is a dispute, nor where the debtor has no means to pay. What we’re aiming to do is help businesses better assess their debt situation and give them advice”. -Ends- This article is provided for general information only. Please do not make any decision on the basis of this article alone without taking specific advice from us. stevensdrake will only be responsible for the advice we give which is specific to you.

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