Don’t let debtors have an impact on your cash flow

Unpaid invoices can have a significant impact on a business’s cash flow and can damage existing client relations. Research by fintech company, Ormsby Street, has claimed that two thirds of letters before action sent by solicitors will result in invoices being paid within 7 days.

In comparison, the same research suggests that if no letter before action is sent, two thirds of overdue invoices will remain unpaid after 1 month.

There are a number of options available to you if an invoice remains unpaid, to discuss the same, or to arrange for a letter before action to be prepared on your behalf please contact:

Mark Hirst (mhirst@bromleys.co.uk), Rachael Frankland (rfrankland@bromleys.co.uk) or Jessica Elson (jelson@bromleys.co.uk) in our Dispute Resolution team.