Financial & Legal News

Cashflow is king

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In hard pressed times when payers are getting more and more tardy, keeping the cash flowing through a business – whether small or large - is still the top priority – and for good reason.

Without predictable cash flow businesses end up financing others’ debts while undermining their own attempts at long-term business planning and forecasting.

With company liquidations increasing in 2011, there has never been a more important time to keep control of costs and debt, claims Pearson Hinchliffe Commercial Law’s Commercial Debt Recovery expert, Chris Burke.

Chris says: ‘The problem for many companies is that commercial debt collection is a time-consuming, hit-and-miss and rather thankless task. More often than not there is little you can do to collect cash from a company that is reluctant or unable to pay particularly once aged debts go beyond 100 days - in today’s economy these are more difficult than ever to recover. Nowadays there is a strong argument for referring aged debts at 50 days instead of leaving them to hit 90 or 100 days.”

As Debt Recovery specialists Pearson Hinchliffe are adept at collecting bad debts and can help improve your cash flow quickly. We can help enhance your existing procedures, reduce late payments and keep the money coming in cost-effectively.”

Chris Burke adds: “The current economic outlook means every business needs a solution to this major problem. Customers normally pay faster once we are involved making our debt recovery service perfect for those small and medium businesses that do not have the resources to chase aged or bad debts as diligently and doggedly as is sometimes necessary.”

As solicitor debt recovery specialists Pearson Hinchliffe Commercial Law is well placed to offer a genuinely comprehensive commercial debt recovery service including Court action, and advice on the appropriate and best methods of enforcement.

Contacting Us

If you are interested in utilising our commercial debt recovery services, please contact us for initial advice using the details provided below.

Please note that the information and opinions contained in this article are not intended to be comprehensive, nor to provide legal advice. No responsibility for its accuracy or correctness is assumed by Pearson Solicitors and Financial Advisers Ltd or any of its members or employees. Professional legal advice should be obtained before taking, or refraining from taking, any action as a result of this article.

This blog was posted some time ago and its contents may now be out of date. For the latest legal position relating to these issues, get in touch with the author - or make an enquiry now.

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