The threat of exposure on the internet is now being used as a deterrent against late payers! A website called 60days.com, which is named after the minimum time it takes people to pay up, claims it is finding success with companies which have previously tried everything else, including the courts, to get debtors to hand over cheques for old invoices. The approach involves a 21-day stay of execution, in which the late payer is told that unless they pay up they will be named in public on the internet.
Our view
Great idea! It is normally big companies that do pay on time.