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Debt management

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As a contractor you get certain benefits. You can be flexible with your work, both in what you do and how much. You can even have a greater earning potential. However, there are also some potential pitfalls, and many seasoned contractors and freelancers have had an issue with late payment.

Sometimes the late payment of an invoice is a genuine mistake, whereas on some occasions it is the first sign of a client or agency being in trouble. Therefore, you need to be aware of how to react if an invoice is unpaid after the due date. This guide will attempt to help.

Clients or agencies going bust is thankfully rare, but does happen. In these cases, you could lose several thousand if not tens of thousands of pounds. However, more commonly there is an administrative oversight that has left your invoice unpaid. We will explore this scenario first.

More on Debt Management
Late payment of an invoice
If the invoice remains unpaid
Late payment legislation
If a client or agency goes out of business
How to protect yourself from bad debts

5 ways that freelancers can avoid business bank charges
3 ways that freelancers can get paid on time

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