4 Top Mistakes To Avoid When Handling Debt Recovery
4 Top Mistakes To Avoid When Handling Debt Recovery Handling debt recovery is one of the toughest parts of managing a business. It can be difficult to maintain positive relationships with debtors when the outstanding amounts start affecting business operations. In these high-stress scenarios, businesses often make a lot of mistakes while handling their clients, […]
Spring Clean Your Ledger: How To Tackle Outstanding Debtor Accounts
Spring Clean Your Ledger: How To Tackle Outstanding Debtor Accounts Managing your company’s cash flow can be difficult, especially if you have a particularly thick debtor ledger. As more borrowers fail to make payments, your bank account will start running low on capital. Over time, this can make it difficult to keep your company operational, […]
The Difference Between Soft And Hard Collections (and When To Use Each)
The Difference Between Soft And Hard Collections (and When To Use Each) Debt collection is complex. There are a lot of local regulations to adhere to, and debt collection processes can take a lot of time since records need to be kept of all correspondence between debtor and collector. While you are trying to recover […]
How Often And How Can I Contact My Debtors – An Etiquette Guide
How Often And How Can I Contact My Debtors – An Etiquette Guide Not sure how often to contact your debtors? This can be a very sensitive topic. Calling or sending too many emails will make your company appear unprofessional and desperate. Excessive contact can also start to seem more like harassment than gentle reminding. […]
Get Help Writing A Polite Yet Firm Debt Collection Letter
How To Encourage Debtors To Pay Up When clients fall behind on their payments, businesses often need to use various methods of communication to reach them. One of the first things you might do is send an email or a physical letter in the mail to the debtor to remind them of their dues. While […]
Signs To Get Help From A Debt Collection Company
Signs To Get Help From A Debt Collection Company Is it time to hire a debt collection company to assist with long-standing debtors? Or should you keep trying to manage your debt department yourself? Many large companies already make use of debt collection agencies, but smaller businesses or organisations can struggle to decide. This is […]
Things Companies Should Never Say To Debtors
Things Companies Should Never Say To Debtors Collecting overdue debt from your customer can be a sensitive process. On one hand, your company likely desperately needs the overdue funds to stay functional. On the other hand, you cannot push or urge customers too much. Saying the wrong thing could end up with a terrible mess […]
How Outstanding Debt Impacts Your Supply Chain – The Ripple Effect
How Outstanding Debt Impacts Your Supply Chain – The Ripple Effect Outstanding debt and overdue invoices can have quite an impact on your business. As an understanding business owner, you might try to be lenient by not pressuring your debtors too much when their accounts become overdue. This does, however, have a terrible ripple effect […]
How To Get Help Collecting Debt – For Free
How To Get Help Collecting Debt – For Free Running a business isn’t always fun. Sure, you are your own boss which offers perks like more freedom, a more flexible work schedule, and perhaps even a higher income. Unfortunately, you will also need to face lots of unpleasant tasks like firing employees who don’t do […]
TRADING TRUSTS – A TRAP FOR THE UNAWARE
TRADING TRUSTS – A TRAP FOR THE UNAWARE A growing challenge for businesses is dealing with debtors who use a trading trust as their business structure. This setup is particularly popular among small family businesses as a way to protect assets and reduce tax obligations. While trusts can take various forms and business structures may […]
