A statutory demand is an effective way for businesses to obtain payment from customers who may be reluctant and unwilling to pay. However, and we don’t say this lightly, statutory demands come with consequences, and it’s important to be aware of these so you can make the most informed decision on whether this is the […]
Customer financing is an area of credit that most customers are now accustomed to, and most businesses feel the need to offer in order to survive and grow. It is a service that offers customers a finance option—a buy now, pay later solution—to help them pay for goods and services over time. Customer financing can […]
Revolving credit and non-revolving credit are used for very different reasons in very different situations and circumstances. With different interest rates, limit amounts, and terms and conditions, it’s important to understand both lines of credit to determine which one would be most suitable for you. On our website, directroute.co.uk, you will find a vast amount […]
In business, you will most likely issue invoices regularly, as they are the one document that helps you get paid. Invoicing is an integral part of the sales process – you want to be paid for the work you do, and in order to receive this payment, you must issue an invoice. However, it is […]
Often, people don’t want anyone, especially their employer, to know their financial business or whether they are dealing with debt-related issues. Your debt and finances are confidential to you, and legally, any debt-related matters can’t and won’t be discussed with anyone other than yourself unless you have given prior permission and consent. However, this is […]
We live in a late payment culture, with ongoing reports showing that over three-quarters of businesses experience problems with overdue invoices. How businesses manage this area of late payment and put in place effective credit control processes determines the effect of late payment and how you can successfully avoid these situations. Collection invoice letters are […]
It is impossible for anyone to know, and have heard of every debt collection agency in the UK, which means spotting a fake agency is proving to be increasingly challenging. With the number of fake debt collection agencies rising, it’s become more important than ever to know what to look for to avoid falling into […]
If we’re honest, no one in business genuinely likes chasing unpaid invoices. It’s awkward, and it can take up a considerable amount of time and resources. Time and resources that could be better utilised elsewhere in the business. We get it. Unpaid invoices are challenging. They can cause cash flow problems, breakdowns in business relationships, […]
Most businesses today operate internationally, with clients accessing goods and services worldwide. While this generation of new business is good news and offers more opportunities, it also presents a whole host of new challenges regarding invoicing and payments. Whether you operate locally, nationally, or internationally, there is always a chance that you won’t get paid. […]
Statute-barred debt is a legal term that most credit control teams and debt collection agencies will be familiar with. It is a term that refers to the legal time limit that a creditor has to collect on an outstanding debt. This time-barred debt becomes statute-barred after this set time period and when certain conditions are […]