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"Is it time to threaten to sue my client?"
- With Jack
- Take a firm stance but avoid the conflict that comes with making a legal threat by sending late payment reminders
- If you have legal expenses insurance you'll have access to professionally written templates
- If the late payment reminder doesn't work, send a final 'letter of claim'. This template is available with your legal expenses insurance and includes the information sheet, reply form and financial statement form that you need to give to the debtor before you can go to court
- The other option is to use the debt recovery service included with your legal expenses insurance. An expert lawyer will formally chase your debt for you
- Make sure you document everything—from contracts that state payment terms to what reminders you've sent the client and when
- There is the option to go through small claims court, but it isn't always successful
- Even if you win the case, it doesn't guarantee you'll be successful in recovering money from your client
- Mitigate the risk of non-paying client as much as possible by working with a contract, preliminary payments and strict payment deadlines
View all episodes
By Ashley Baxter- With Jack
- Take a firm stance but avoid the conflict that comes with making a legal threat by sending late payment reminders
- If you have legal expenses insurance you'll have access to professionally written templates
- If the late payment reminder doesn't work, send a final 'letter of claim'. This template is available with your legal expenses insurance and includes the information sheet, reply form and financial statement form that you need to give to the debtor before you can go to court
- The other option is to use the debt recovery service included with your legal expenses insurance. An expert lawyer will formally chase your debt for you
- Make sure you document everything—from contracts that state payment terms to what reminders you've sent the client and when
- There is the option to go through small claims court, but it isn't always successful
- Even if you win the case, it doesn't guarantee you'll be successful in recovering money from your client
- Mitigate the risk of non-paying client as much as possible by working with a contract, preliminary payments and strict payment deadlines