Arbroath could attempt to freeze Hearts' gate receipts if they do not receive money they claim is due to them from the transfer of Andy Webster.
The Scottish Second Division club sold Webster to Hearts in 2001 and claim they are owed £14,000 after his move to Wigan triggered a sell-on fee clause.
Arbroath secretary Gary Callon told BBC Scotland the club were unhappy.
Meanwhile, Hearts have confirmed that all players at the club received their weekly wage on Friday.
However, it us unclear whether the players who were not paid in the previous week have yet received their overdue wages.
The Gayfield club say they had a sell-on clause in Webster's contract when he left to join the Tynecastle outfit and say that despite receiving repeated assurances, Hearts had not paid the sum.
"They are due us £14,437.50 plus VAT," Callon told BBC Scotland.
"We finally agreed an amount with Hearts that they were due us on 1 August and we sent them an invoice at that time, which still hasn't been paid," he said.
"A month ago we asked the SFA if they could assist us to claim this money. They advised us that they'd contacted Hearts, who had said payment had been authorised, and was being processed.
"But to date we've received nothing."
Callon said Arbroath were becoming increasingly frustrated as the money could be used to improve facilities at Gayfield.
"It may not be a lot of money to Hearts, but it is to us and there are a lot of good things we could do to the ground and for players with it."
Callon added: "The SFA have reported them to the general purposes committee and there could be implications for them in not being able to deal in the transfer market, and even being thrown out of Europe unless they pay."
The SFA said it would do its best to resolve the dispute between the two clubs.
"There's been a delay in payment but, hopefully, it can be sorted out without recourse to the general purposes committee."
A Hearts player's agent contacted the SFA earlier this week claiming he is owed money by the club.
The unnamed party has been promised payment of what's believed to be a six figure sum by the end of the year.
The SFA said it has been asked to act as an arbiter in that dispute.
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