[BNM] Harsh economic times - protecting ones interests

[Catherine Pope]

Hello Matt

I was in that position a few years ago, so I do sympathise.  I don't
think anything has changed since then, alas.  If the client does go
into liquidation, preferential creditors such as banks will get their
paws on any assets.  You would need to register your interest with the
administrators and then wait and see.  I waited well over a year and
was finally awarded £8 for an invoice of £750.

I don't know that there's an effective solution in the current
climate, other than submitting regular invoices for smaller amounts
and demanding faster payment.  Then you can at least withold your
services if payment is not forthcoming.

Best of luck

Catherine

2008/12/2 matt zb <bnm at zenbullets.com>:
>
> Hi BNM,
>
> Some freelancing advice required.
>
> I've got a client, who owes me a considerable amount of money, who I suspect
> are struggling quite a bit cashflow-wise. They are very over-due on invoices
> and are reacting very badly to enquiries.
>
> Is there anything I can do to ensure I get paid if they were to go under, or
> would receivers take care of that? I'm also worried that if I were to start
> any action against them it might push them over the edge.
>
> Your thoughts appreciated.
>
>
> matt zb
>
>
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