How to prevent and deal with late payments
Finance & Funding
Key learnings
- Reduce the risk of late payments by taking preventative measures such as setting out payment terms and doing credit checks.
- Schedule regular time for administration and developing your policies and processes to prevent late payments.
- Chase late payments promptly, working through the steps to recover debts, and be prepared to take legal action where needed.
- Alternative financing options, proactive cashflow management, and building your network can help you be prepared when late or missed payments happen.
Just a second
Log in or sign up for free to view this.
You can unlock this content for free, alongside our other amazing support. Log in or click 'Sign Up' to find out more.
Already have an account?