To be angry and stressed?

[Friendlystories]

Really long story but basically DH is self employed, things have been really tight financially lately due to the guy he mainly subcontracts for extending payment terms because customers weren't paying on time and as a result we haven't been able to do any Christmas shopping yet. There was a big invoice due yesterday, DH was assured it would definitely be paid on time so we'd planned to go shopping today but as of this morning there's still no sign of the money in our account. Had arranged for DM to have DD (which is a story in itself as DM isn't overly willing to help) and was looking forward to getting it done so I can stop worrying we will struggle to get the things DD has put on her list and now it looks like it's not happening. It really is a long story but the only reason DH agreed to extending the invoicing period was so we can budget properly and rely on money coming in on the due date instead of two weeks late and now it looks like waiting the extra month has done us no good at all. Feel so bad for DH, he absolutely busts his balls to do a good job for this guy and it feels like he gets no respect for that when he can't even pay him on time. He's doing his best to get work elsewhere so we don't have to rely on this guy but unfortunately he is the main source of work at the moment. So worried our Christmas is going to be ruined and the worst part is we know for a fact it's not that the guy can't afford to pay DH he's just one of these people who likes to hold onto money as long as he can. Feel sick at the thought DD might wake up to nothing on Christmas morning, we won't even be able to afford food if he doesn't pay. DH left messages chasing payment yesterday and he hasn't even bothered to reply. Just feel so angry, sorry for ranting but have to let it out somehow and it's not fair to rant at DH, he already feels bad enough and is doing everything he can to sort it.

so pleased for you

Ahh brilliant news - I actually took a massive pay cut and went back to employment because I just couldn't stand chasing payments any more. Social services were the worst for it - at one point they owed me nearly £10k and just didn't give a shit. I hope you manage to phase this guy out, enjoy Chrisymas shopping!

Thank you my DM has actually said she'll have DD tomorrow instead surprisingly, am a bit suspicious she's being too cooperative and something will go wrong but, for now at least, things seem to be falling into place. Thanks again for the support, been a horrible day but things are looking up.

We have our own limited co VAT registered - we pay VAT quarterly on when paid - so not sure where being due immediately comes from but I do know there are different ways for it to be paid e,g, we pay actual not flat rate.

60 days is crap we charge at 30 days and have a couple we have had issues with - usually bigger companies funnily enough - we chase before due to remind and then daily once due and make a complete pain in the butt of ourselves. We are currently having issues with one particular customer and are looking at spot factoring ie selling on of one invoice for an initial payment % upfront and then once the money is collected you get the remaining amount less their fees - sometimes its worth loosing two or three % to have the cash when you need it.

If he is not short of money then he doesn't need to wait for the customer to pay in order to pay you - that is all "managing expectations". At the end of the day the work is done and he would owe you whether the client pays or not - his lack of ability to get someone to chase his customers should be his not your issue.