Do I Have To Pay An Old Debt?

If you’ve recently been contacted about an old debt that you owe – or that someone such as a debt collector lender claims that you owe – there a few important facts that you should be aware of first. These facts relate to the type of debt and how old the debt is, and in […]

Debt Collection Mistakes Made By Small Business Owners

Overdue and unpaid debts can cripple or even fatally wound an otherwise profitable business. In fact the average invoice in Australia is paid 26.4 days late, one of the worst in the world. So if you’re not managing your overdue invoices and don’t take preventative measures to protect your cashflow you may soon find yourself […]

What Is A Statute Barred Debt

There comes a time when a debts are considered too old by most collection agencies to actively pursue. This generally happens when a debt become “Statute Barred”. A Statute Barred Barred Debt comes under the Limitation of Actions Act 1958 (Vic) (“LOA Act”), which explains that a creditor only gets a limited amount of time […]

5 Steps to Fixing Bad Credit

Credit Reports And Why They Are Important Your credit report is a very important collection of information which shows your complete credit history. Credit reports are important for both businesses, banks and lenders to determine whether they should lend you credit. Giving credit is a privilege that customers must earn. Ultimately, credit reports are used by banks […]

How to Charge Late Payment Fees and Avoid Any Pitfalls

So you’re sick and tired of customers paying their invoices late and want to include a late payment fee or penalty charge into your Terms of Trade, but you’re not sure how to do it. Well you’ve come to the right place… Before updating your terms of trade you need to be sure that the […]

Tips For Improving Payment Terms With Suppliers

One of the fastest and most effective ways to improve your business cashflow is to improve payment terms with your suppliers. There may be many reasons why you want to improve cashflow… You could be under cashflow pressure due to longer payment terms you have set up with your customers and want set up similar […]

How To Ask For Payment In An Email

Chasing up customers or clients for outstanding or overdue payments is a common task for many businesses. History tells us that whenever you offer products or services on credit there is a good chance that your invoices will be paid late. In fact a recent survey by MarketInvoice, a UK finance company showed that globally […]

How Do I Write Business Terms And Conditions

Drafting complete, legally binding and personalised terms and conditions for your business is an important task that every business must undertake. It is highly recommended that you seek professional help to ensure that your business terms and conditions cover everything that is required and avoid any terms, conditions or statements that may cause any legal […]

64% Of Millennials Unaware Of “Bad Credit Score” Consequences

Millennials now make up around a quarter of Australia’s population and are fast becoming the largest consumer group as their incomes grow and they begin making more purchases on large ticket items. But a recent report by a large Australian credit reporting agency reveals that many Millennials have little to know understanding of what a […]

How Credit Score Can Affect Your Small Business

Your personal credit score paints a detailed picture of your financial history. From the first day you ever applied for or received credit in anyway your credit score has been accumulating. This may have been when… You got your first mobile phone plan Had electricity hooked up to your first rental property Applied for a […]