Creditor pressure is enough to make any business owner feel as though the walls are closing in. Understandably, no one ever wants to submit to the worst case scenario, but that will not stop creditors from taking what’s theirs irrespective of your circumstances. If your company is failing to make payments to a variety of creditors then it is time to seek help before the pressure intensifies.
Any one of your creditors is within their right to employ a debt collector in order to recollect funds and/or assets to cover missed payments. Creditors can also pursue legal action, which can lead to more serious consequences, such as insolvency.