How long do you wait for bad payers?

[Swales lives]

One for the self-employed and small business owner this.
How long is too long, before you take action?

 

[Zin 'messiah' Zimmer]

Genuinely, and this differs for different small business's, but no more than a week, I'd also look the person in the eye to see if there taking a chunk out of my unborn kids inheritance!

 

[gordondaviesmoustache]

14 days after they've promised you the money's on its way. That usually denotes dishonesty and a complete lack of intention to pay the bill.

Creditors lie for all sorts of reasons, but their ultimate loyalty is to themselves. Nowt wrong with that per se, but always be alive to that fact IMO.

 

[scall11]

30 days is the standard.

On invoices, always state this. After 30 days send a reminder with 7 days payment window. After that I'd send a final reminder with a polite threat of "further action".

After that threaten with small claims court and charge interest. There's a great template out there which references various Acts

 

[Danamy]

As long as it takes to fill the blow torch up with gas?

 

[law74]

Would it not depend on the nature of the business, the amount oweing, the person (or company that owes the money), how long have you been doing business with them, how much business you do with them etc etc
If you are for example a tradesman and have been getting work from a source for a number of years and they have been good paying up until now, a polite chat may be the way to go, whereas some one that you are doing a one off job for less time would be given...

just my thoughts

 

[Swales lives]

Would it not depend on the nature of the business, the amount oweing, the person (or company that owes the money), how long have you been doing business with them, how much business you do with them etc etc
If you are for example a tradesman and have been getting work from a source for a number of years and they have been good paying up until now, a polite chat may be the way to go, whereas some one that you are doing a one off job for less time would be given...

just my thoughts

I work on a freelance basis and my terms are 30 days on receipt of invoice. All my usual clients are prompt and I have a good relationship with them. I've done work for this now ex-client twice, they were 45 days late on the first invoice. This invoice is now 90 days late.

I know I've been far too soft with them, I let things slip as I was busy on other stuff and getting regular payments from other clients. Just got an email off the cheeky bastards asking can I wait til the end of March... due to cashflow bollocks!

I'm instructing a collections solicitor tomorrow.

 

[stonerblue]

I get paid when i hand the job over usually, but i have contracts that take two bastard months to pay.

The invoice system stifles small business' and leads to too many shut downs.

 

[Swales lives]

I get paid when i hand the job over usually, but i have contracts that take two bastard months to pay.

The invoice system stifles small business' and leads to too many shut downs.

It's a pain in the arse, it cripples the sole trader and small businesses.

 

[mammutly]

You should state terms of payment on the Invoice. Ours are 30 days, then they get an overdue letter. If not paid then 14 days later, they get a sternly worded reminder. If not paid after another 14 days, a letter is sent requiring payment within 7 days otherwise legal action will be taken without further notice.

I have only had one client who has not paid and we have just issued proceedings - it's very easy to do online. The fee is £60.