Debanking continues to hit the headlines as banks have considerable control and final rule over which accounts they choose to close without providing prior notice. With calls for better and more legislation in this area, in this post, we look at debanking, its consequences, and why it occurs. Of course, if you’re facing an invoice […]
If your business is facing financial difficulties that may be short-term, a debt-for-equity swap could be a beneficial refinancing deal for you. A debt-for-equity swap is where a company or individual debt can be exchanged for something of value, i.e., a share of the business (equity). At Direct Route, we always advise that if your […]
A breach of contract occurs when there has been a violation of any of the agreed terms and conditions set out in a binding contract. Breaches can range from minor to major incidents and can include areas such as failure to deliver the product requested or late invoice payment. For all not considered a crime, […]
Most companies will take out a business loan over their lifetime as businesses look to expand and grow. However, in some cases, these loans can become a noose around a business’s neck. If repayment of a loan or debt becomes challenging, a business may look at a business debt payoff – also known more formally […]
If your business is facing financial difficulties and looking ahead, you are paying more out in loan repayments and outstanding debts than income coming in, corporate debt restructuring could be a financial solution to support you. Allowing companies the opportunity to keep their business afloat, this form of debt consolidation focuses on lowering the amount […]
A voluntary Code of Practice for businesses to sign up to, the Prompt Payment Code (PPC) drawn up by the Department of Business and Trade, is fast becoming recognised as standard good practice within all industries to support the reduction of late payments and prevent smaller businesses falling into cash flow problems. The Code was […]
There is not one straight route in debt collection, and for businesses, collecting outstanding payments and invoices can take several processes and include a mix of debt collection services. One such service is the use of high court enforcement. High court enforcement officers in these instances are employed to collect on high court writs, which […]
Even the most successful business will have debts and loans to repay. This form of credit and repayments is not uncommon, with businesses using this strategy to support cash flow and business growth. However, sometimes debts and overheads can become too much, especially if your order book has slowed down. Rather than jump straight into […]
As a business, it can be challenging when an invoice becomes overdue, and you have to start the process of “chasing.” You need to be paid for the products or services you have provided; however, collecting from individuals takes it to a personal level. For example, how long should you give people before chasing them? […]
Business and consumer loans will typically fall into one of two categories: secured or unsecured debt. The main difference between these two areas of finance concerns collateral, which protects the lender in the event that the debtor defaults on repayments. In this post, we look at secured vs. unsecured debt, what they both offer and […]