The days are getting longer, the sun is shining brighter and Christmas is coming. But despite the spring air, there’s something keeping you from enjoying things quite as much as you know you should be. Perhaps it’s a problem you can see on the horizon, perhaps it’s an ongoing dispute or perhaps it’s a debt you can’t manage to collect. If you have something lurking in the corner of your mind, now is the time to resolve it so that you can enjoy the holiday season with a clear desk and clear mind.
The period prior to Christmas is often the best time to resolve disputes for several reasons.
The first reason is that there is a sense of hope that comes with the new season that results in a better frame of mind to seek resolution, even those tough issues where negotiation has previously broken down or otherwise failed. The positive feeling that comes with better weather has a real and perceptible effect on the way parties approach issues which often means more reasonable solutions can be reached faster and more cost effectively.
The second reason is the incentive that most people have to tidy up their affairs before the holiday season. Just as you would like to spend your summer free of worries, so would everybody else. Frequently we find that taking the first step is all that is needed to move things toward resolution. If you can see a problem arising, or have reached an impasse on a difficult issue, consider proactively dealing with it now and making the most of the perceived time pressure that is the end of the year.
The third reason is the effect of the time of year on cash flow. Christmas is tough on cash flow, which means not only is the chance of having debts paid over the holidays low, but those debts, if not paid before Christmas, may end up being first looked at until February or later.
Following up with debtors now helps to encourage payment before Christmas and helps to get your own cash flow off to a good start in the New Year. Often it takes little more than a polite but firm lawyers’ letter and phone call to let your debtors know you’re serious. This can usually be done quickly and at a low cost. Overdue credit is money that is in someone else’s pocket instead of yours. Wouldn’t you rather invest in your own business and staff than someone else’s?
With experience in a wide range of commercial disputes, we are happy to discuss a pathway that takes into account the likely time, hassle and cost whilst ensuring we look after your reputation and ongoing commercial relationships. Getting in touch with Jackson Russell’s litigation team for some early advice improves your prospect of getting paid and improves your chance of a worry-free holiday.
The information contained in this publication is of a general nature and is not intended as legal advice. It is important that you seek legal advice that is specific to your circumstances.
All rights reserved © Jackson Russell 2016
Mark Sullivan, PARTNER
Sarah Sussman, LAWYER