Creditors and debt recovery

Discovering that a trading partner cannot pay its bills can be concerning, particularly where overdue payments create uncertainty for your own business.

Early detection and response is the best defence against payment issues. Indications of payment issues may include:

• payments outside of, or exceeding, agreed terms
• a failed commitment to make payment following repeated requests
• changes to existing payment arrangements
• difficulties contacting the business and delayed or inadequate responses

If you believe a trading partner is experiencing issues, you may be able to improve your recovery efforts by engaging an insolvency legal expert who will collaborate with you to understand your business risks and formulate strategies to recover outstanding funds.