CreditorWatch is an online community of thousands of Australian businesses who share information about bad debtors in order to make better credit decisions.
CreditorWatch allows you to report bad debtors and to receive alerts when the businesses you deal with (or are planning to deal with) are reported by CreditorWatch members. You will be able to view the default history registered against the businesses you deal with, as well as getting access to a credit report on any business in Australia.
As a member you will also be licensed to place the CreditorWatch logo on your invoices - promoting your participation in the CreditorWatch program to your clients to encourage them to pay on time.
"Live for today, plan for tomorrow and remember yesterday" - Jeremy McKenzie
Issuing a letter of demand is the first step in initiating legal action when a customer hasn’t paid, and can sometimes motivate them to open their wallets.
Don’t throw your hands up in frustration when your debtors don’t pay. Take action. One option available is alternative dispute resolution.
A good cash flow cycle is one in which the period between paying your expenses and getting paid by your debtors is as short as possible. Here are some strategies to tighten yours up.