How Do You Get the Money You're Owed?

In the current economic climate, life is tough for small businesses. It is more difficult to attract customers and clients, and, unfortunately, when the sale or service is completed, or the deal done, it is often difficult to get paid. It can sometimes look like a vicious circle, you don't get paid so you can't pay other people, who can't pay their people and so the cycle continues.

When it becomes impossible to bring in the money you have earned and are owed, the legal option is sometimes the only option. There are a number of options available to persons who are unable to get their hands on the money they are owed. Sometimes a letter does the trick, in other situations, a trip to court is the only answer. It is possible to ask the Court to order the debtor to pay the money in full straight away, or in a number of set instalments, weekly or monthly. Having a Court Order means that the creditor is entitled to the repayment of the money owed. If the debtor does not comply with the Court Order, there are other options for enforcement open to creditors, including asking the sheriff to seize property, or putting a claim on any land the debtor might own.

It is vital for small businesses that the goods or services they provide are paid for. When that doesn't happen, the law can help.