When you run a business you have a professional expectation that you will be paid by clients on time and in line with the payment terms specified on your invoice. However, this isn’t always the case. Unpaid debts can have a severe impact on the health of your business. Chasing debts is stressful, wastes your time and negatively affects your profits. Healthy cash flow is the lifeblood of your business and debt can leave you fearful for the future. Here we talk about how to manage and recover the debt to minimize the impact on your business.
A County Court Judgment, which is often abbreviated as a CCJ, is a court order that can be registered against someone who fails to repay money that they owe. The CCJ states the amount of money owed and how and by when it should be paid.