Wilson Cole's Podcast From The Road

Monday Morning Memo: What Happens If You Owe Another Invoices And You Cannot Pay

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Synopsis

Business can be rough sometimes and you might find yourself not being able to pay someone you owe. We’ve had clients that have had these types of problems in the past. We understand that it’s almost always due to unforeseen circumstances or a cash flow issue. So today Wilson and Samantha will be going over what exactly happens if you owe another invoices and you cannot pay. What Happens When You Can’t Pay Your Invoices? Being unable to pay your invoices can be devastating. However, understanding what will happen if you’re unable to pay your invoices will be the first step to finding a solution. Always Try To Reach out To Your Creditor First and Foremost Reaching out to your creditor is something we highly recommend if you can’t find a way to fully pay your invoices. Reaching out to your creditor lets you work out a deal to be able to pay the debt over some months or to even reduce the amount of debt that you owe. Usually radio silence isn’t a good idea because it gives your creditor the idea that you might be