The best approach to recover unpaid invoices: Legal action vs pre litigation debt recovery
Dealing with a customer who has gone into liquidation or closed their business while owing you money is one of the most challenging situations a business can face. Unfortunately, itās not uncommon, and the consequences can be severeāimpacting your cash flow, profitability, and even the overall sustainability of your business. However, with the right strategies in place, you can minimise the risk of finding yourself in this difficult position.