Early Warning Signs

Business Recovery & Insolvency

Having a customer who is unable to pay can have a serious impact on your business. Knowing how to spot if any of your existing or potential customers are in financial trouble is imperative to protecting your position.

Being vigilant is important and you need to know what signs to look out for. Regularly check your clients’ accounts as any of the following ‘red flags’ could indicate that a customer may be struggling financially:

  • A change for the worse in payment patterns (taking longer than usual to pay invoices)
  • The account remains outstanding for longer or the amount is greater than usual
  • Unexpected or sudden requests for a credit limit extension
  • Smaller or less frequent orders than usual
  • Mistakes on cheques (these could indicate that they are avoiding paying or buying more time)
  • Refusing to talk to you or are putting off paying you and are offering no reason

There may be a genuine reason for any one of the above, but if these red flags start happening frequently it might be time for you to act.

So what should you do?

If your customer appears to be “juggling debts”, you need to decide whether to:

  • Simply wait to see if they pay
  • Work to get yourself to the top of their pay list. Tell them how important this invoice is to you and to your business—it’s money you’re counting on
  • Apply pressure to see if this speeds up payment
  • Instruct solicitors to pursue the debt

Whilst the last one may seem harsh, if you are owed a significant sum, the loss of which would result in serious harm to your business, do you have a choice?

The very first thing you need to do is speak to them, face to face if possible. Financial stress is a very sensitive issue and the sooner you open up the lines of communication, the quicker the matter can be resolved.

CreditMan can put you in touch with a professional who can advise you on the best route to take.

Who we are

  • Insolvency specialists
  • Finance Experts
  • Credit Insurance
  • Debt Services
Contact us Teamwork graphic

Speak to an expert

Concerned about your company? Call Simon Lowes, Insolvency Specialist, or fill out the form below for a callback.

Thank you for contacting us, we will be in touch soon.
CreditMan | Simon Lowes

Other Services

Our Services Icon 3

Credit Insurance

Financial protection is usually top of the agenda for the majority of business owners. Credit Insurance transfers the risk away from a business to the credit insurer, protecting the policyholder.

Our Services Icon 2


No longer are businesses reliant upon bank lending alone. They now have the flexibility to go out and source finance from various offerings taking in to account what is right for their business and its needs.

Our Services Icon 4


Our carefully selected partners can assist with debt recovery and collection in UK and overseas. They are also able to assist with enforcement issues and tracing missing debtors on your behalf.

Free company review and strategy plan

Concerned about your company? Contact us for your full FREE review of their financial position and strategy plan.

Contact us

CreditMan Daily Newsletter

The latest notices to your inbox

Subscribing to CreditMan guarantees that you can stay up to date with insolvency notices, news, articles and events relating to your industry.

  • Daily business recovery & insolvency notices
  • Relevant business news and expert commentary
  • Events and training to improve your network and skills
Sign-up today
Daily newsletter preview image
  Creditman Approved Services

Based Business Finance

  • UK's leading business funders
  • Free Brokerage Service
  • Full Market Access

Corporate Insolvency Support for UK Businesses

  • 35 Years Experience
  • 100+ UK Offices
  • Confidential Director Support
  • Insolvency Market Leader

Struggling to get your invoices paid


Contact us for a Free Consultation Today!

Business Debt Recovery planning image

This site uses cookies to monitor site performance and provide a more responsive and personalised experience. You must agree to our use of certain cookies. For more information on how we use and manage cookies please read our PRIVACY POLICY