Understanding Your Rights: What UK Businesses Can Do When Faced with Non-Payment
As a UK business, cash flow is the lifeblood of your operations. When customers fail to pay on time, or refuse to pay at all, it can put a serious strain on your finances. Whether you are a small business or a large corporation, non-payment can disrupt your ability to meet your own financial obligations […]
What Businesses Need to Know About Debt Recovery Law in the UK
In the UK, several laws and regulations govern the process of B2B debt recovery to ensure it is conducted fairly and legally. Here is a list of some of the UK’s key debt recovery laws and regulations you should be aware of: Limitation Act 1980 This law sets out the time limits for taking legal […]
In-house Debt Recovery VS. Using a Professional Service
Why Outsourcing Debt Recovery Makes Sense for SMEs Managing debt recovery is a crucial aspect of maintaining cash flow and ensuring financial stability, especially for small and medium-sized enterprises, or ‘SMEs’ for short. While some businesses choose to handle this in-house, there are compelling reasons to consider outsourcing this task to a professional service like Axis […]
Business Best Practices for Chasing Late Payments
Late payments can be a significant hurdle for businesses of any size, disrupting cash flow and creating unnecessary stress for your employees. Fortunately, with the right approach, you can ensure timely payments while maintaining positive client relationships. Our debt recovery experts have put together some practical tips and strategies to help you chase late payments […]
Understanding How Long You Have to Recover Business Debt
What is The Six-Year Rule for Debt Recovery in England, Wales and Northern Ireland? A widespread misunderstanding is that unsecured debts are written off after six years. While it’s true that many unsecured debts cannot be pursued through legal means after six years, this does not mean the debt simply disappears. Instead, the debt becomes […]
How to Recover Debt from a Business – A Step-by-Step Guide for Companies
Having a debt recovery process in place is integral to the smooth running of any business and key to avoiding a long, drawn-out recovery process – important for your company bank balance but also for the emotional wellbeing of whoever is responsible for chasing that debt within your team. Here we talk you through 4 […]
Experiencing Debt Challenges? Discover Axis TradePay’s Cost-Negative Solutions
For small businesses, dealing with overdue payments can be tough. They often struggle because they don’t have a big team or fancy tools to chase down money owed to them. Unlike larger companies, small businesses might not have experts in-house to handle this. Also, when you’re running a small business, you usually know your customers […]
