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   Freelancer with late paying customer

Freelancers hit Hard by Late Payment

June 06 2016

Around half of freelancers have thought about quitting as a result of the strains that come from late paying customers, according to a new study. The study found that the average freelancer is owed 5,342 in late payments, and this burden weighs heavily on them:

  • 36% of freelancers had been forced to borrow from payday lenders

  • 10% have trouble meeting mortgage repayments or rent at the end of each month

  • 40% have taken out a County Court Judgement (CCJ) against customers

  • 35% have turned to family or friends for financial help in the last 12 months

The average payment to a freelancer is 19 days late.

Samantha White CEO of My Credit Controllers said:

"Freelancers can ill afford to spend billable hours chasing for payment, and often worry that they may be risking future business by hassling customers for money. It is a disgrace that their customers are taking advantage of this situation.

Many freelancers find help from a specialist third party is just what they need to create a separation between effective, businesslike collections and managing the relationship with the customer."

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