Creditors Pressure
Creditors are a fickle bunch! When things are going well, they shower you with discounts on their goods, so long as you buy every week, or month.
This seems like a good idea, and that the creditor is out to help you and your Business go forward
Once they have saturated you with their products and the payment terms are due, they start to apply pressure, by way of continued phone calls throughout the week.
You explain that because of their aggressive sales force, you have over committed yourself, and would like a while longer to pay, but that only meets with threats of court action!
CCJ`s start falling through your letter box, you try to offer a schedule of payments, but no one is listening. This is what you have expected for a while, because Peter has been paying Paul, and you have been trying to play catch up, by taking on more Business.
If only the Bank would listen and give a small overdraft, life would be so much easier, and you would not have to dodge those phone calls.
CCJ`s turn into Judgements, you start to make offers, but you soon realise you cannot meet all your monthly obligations.
Bailiffs start arriving! They want payment, or they will take your goods and chattels.
You are back to making offers, knowing full well you cannot keep up with them.
You cannot focus on the day to day running of the Business because of all the stress, so therefore Business starts to suffer and your customers start to feel unsure of your ability to complete orders.
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