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A creditor is someone – an individual or a business – owed money for goods delivered, or labour performed, or loans extended. Creditors are entitled to collect on money that are due them. Debtors are also obligated to pay what they owe. But, to be effective in collecting on debt,

In 2015, the Australian Taxation Office (ATO) pledged tougher tax collection. The tax office estimated $20 billion in tax debts and it was running low on cash. One of the actions proposed by the ATO was lowering the benchmark for legal action to $93,000 from $340,000. Slater Byrne Recoveries warned

Cash is important to a business of any size. Businesses need to collect whatever creditors owe them to maintain positive cash flow and continue to operate. If you are a small to medium business, you have three options to recover unpaid debts: Use your in-house invoice and payment reminder system, Hire

The Australian government is beginning their crack down on late payments and it seems at the top of their list are the biggest players of the building industry. In an interview with the Australian Financial Review, Australian small business ombudsman Kate Carnell urged contractors to pay on time; otherwise, they will

In an article published in The Australian earlier this month, business analyst Robert Gottliebsen suggested that the best way to jumpstart the economy is to urge big companies to pay SME invoices on time. Mr. Gottliebsen pointed out that this is the perfect strategy for the government as it won’t cost the