Chasing payments in a pandemic

This week Frankie Tortora and Steve Folland have a chat in response to a question from accountant Caroline Boardman. She says:

“How should we chase payments in this climate? When you know times are tough for people but you need to get paid too, what's the best way to approach credit control?

As an accountant, I am in the position of knowing more than most about my clients' finances, so it is tricky to chase a late payment when I know they really don't have the cash in the bank! Should we just be leaving it at the moment and chase after lockdown? Should we just be doing what we usually do? Or is the best thing to do to offer payment plans? Help!”

What would your advice be? Let us know your thoughts using #DIFTKpodcast on Twitter and Instagram, and join in the conversation via the DIFTK Community on Facebook.

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This episode is supported by Nutmeg.

Nutmeg launched in September 2012 as the first online wealth manager in the UK with a promise to open up the previously exclusive world of wealth management. Nutmeg offers customers a high-quality investment service at a reduced cost, whether they have £500 or £5 million to invest. Nutmeg now manages over £2bn on behalf of over 80,000 customers, making Nutmeg one of the UK’s fastest growing wealth managers and the fifth largest wealth manager in the UK by customer numbers (Source: PAM Asset Management, January 2019). www.nutmeg.com

[Risk warning: Capital at risk. JISA rules apply]

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Caroline Boardman's website
Frankie Tortora's website
Steve Folland's website
Steve's podcast - Being Freelance

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