The short answer is no, however below are some detials of what debt recovery looks like for different entities;
•Individuals and smaller businesses are more likely to suffer cash flow difficulties; therefore, repayment options may be a better debt recovery solution.
•Sole traders are personally liable for their debts, so may be worth pursuing if the individual has personal assets even if the business is in a weak position.
•Larger organisations respond to debt recovery on a more professional level. The key here is to act fast ensuring some form of credit control is actioned if invoicing is late. The good news is the company is responsible for the debt and is in their best interest to get the debt paid before court action is taken.