Hi all, need advise on this. I owned a small sole propietor company and done some works for our main con, now i am facing some financial issue due to :-
1. Company (1) had'nt paid us since complete our work and invoice was send january 2016, have tried calling the boss and the manager in charge but they never pick up my call or my staff's call. after issuing a demand letter a meeting was held just a week before our 2016 national day but he never fullfill his commitment on paying even partial after the holiday, now call no answer liao. (debt $28k)
2. Another company is also delaying our payment and are paying only as and when they claim they have sufficient, but our work have already completed and our agreed terms / LOA stated is 30days.(debt as of now est. $40k)
For company (1) no doubt have to take action, very tired and stress up calling this bustard liao and are wondering should i engage a debt recovery or engage a law firm but the amount is not big and not small so which is adviceable huh?
For company (2) i would appreciate those expert in business to advices what could i do to ensure that the debt would nnot go aging further.
very stress.. need to pay rent, salary, levy etc.......