In small to medium business, cash flow is a major priority, and when invoices, debts and loans are not being paid, overdue debts can instigate a flow-on effect that can leave your business and reputation in the wind.
What to do when a debt or loan becomes overdue depends mostly on how long overdue it is and how much it is worth. We often refer to this decision as a Commercial Viability Judgment.
This judgment is essentially a balancing act between the costs of having someone represent your interests, versus the potential issues of having the outstanding debt remain outstanding. This is more than just the financial issue, and should include all facets to your business model.
At Castrikum Adams Legal, we can represent your interests in that overdue debt you can no longer leave outstanding.