Businesses battle with rise in debt through late payments
Originally posted by 5corpio
Businesses battle with rise in debt through late payments

Businesses are experiencing a continued rise in late payment problems according to the latest analysis from commercial debt recovery specialist Lovetts. In the first quarter of 2011, the average debt being chased through Letters before Action (LBA) increased in value by 17.6% compared to the same period in 2010. LBAs are used to secure payment, or to obtain a response from a customer before the commencement of a legal claim.

In response and in reflection of the on-going pressures on business cash flow, businesses took a tougher attitude towards late payments, bringing forward the point at which legal action would be threatened. According to Lovetts, businesses cut the time from invoice to the point of the LBA being issued by an average of..........Read more HERE