There are times in life when we will feel cheated out of something that is rightfully ours. In situations like this, many people will let things slide in order to avoid kicking up a fuss when really they should stand their ground and demand what they are owed. Here are just a couple of ways that you can take back control and claim back money that is rightfully yours!

Claiming Compensation

Sometimes bad things happen, and you can’t do anything about it. But if you find yourself in a negative situation due to someone else’s negligence, you can take action. This is what compensation exists for. Compensation is a sum of money that is given to a victim in order to recognize loss, pain, suffering, or injury that they have at experienced at the hands of another who was in a position of responsibility. Now, a lot of people are hesitant to claim compensation. They have been swayed to shame by notions of “compensation culture” being negative. But you will only be rewarded something if you are entitled it. So pursue your case! There are plenty of specialist lawyers out there whose role it is to help you: personal injury lawyers, accident in the workplace attorneys, missold insurance specialists… the list goes on and on.

Taking Control of Accounts Receivable

One of the most complex aspects of running a business for those who don’t have a background in figures is accounting. However, if you want to make sure that your business is a success, accounting is a professional skill that you’re really going to have to hone. After all, you need to be fully aware of what money is going out of your business, what money is coming into your business, and whether you are owed money by anyone. If you only accept immediate payments on your goods, things are a little easier. But if you allow people to take goods away and pay at a later date, your job can become a whole lot more complex. Now, there are various reasons that you might put off immediate payment. You may want to ensure that the customer is happy with your goods before they hand over any money. You might want to give people a little extra time to pay. Whatever your reasoning, this is a business move that can make your company a lot more appealing and competitive and give you that little reach above your competitors. In situations like these, you need to ensure that you invoice your customer for the full sum that they owe you (the amount that they owe you and are going to pay contributes to your “accounts receivable”). However, this can only work in your favor if your customers stick to your agreement and pay you back on time. If they miss their agreed repayments or simply don’t pay at all, you need to take control. Send another invoice. If they don’t respond, give them a last warning before proposing legal action. Some people are merely forgetful or put things off. This should encourage them to cough up the sum owed.

These are just a couple of areas for you to focus on for now. There are plenty more out there! Just remember, if something is rightfully yours, you should always remain strong and claim it back!

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