Blogs
Writing off Debt: the effect on your business and bottomline
Writing off a debt is never a pleasant process. It means a loss for your business. It also means you have exhausted every avenue to find a way for the account to be paid. But, eventually, that bad debt has to get off your books. The how, the why, and the wherefore Bad…
Debtors Control: signs you need to outsource this function
Possibly the most difficult area of any business is getting customers to pay on time. Or pay up at all. There are always problem people who either assume that if they leave a debt long enough it will go away – or those who would pay but find themselves in awkward…
Uncollectible Debt: time, tax and tenacity
Sometimes debts become uncollectable and have to be written off by the creditor. There are many reasons for this, such as: debtor’s bankruptcy, an inability to find the debtor, fraud on the part of the debtor, or lack of proper documentation to prove that debt…
How working with a Debt Collection Agency affects your credit rating
When you don’t pay your debts you are likely to become a liability to your creditor. After phone calls and letters do not elicit payment of an outstanding account, a frustrated creditor could hand your account over to a debt collections agency. These are…
Debt Collection: Why you need an agency
Possibly the most difficult thing about running a business is the process of extracting money that is owed by customers. As in any situation where money is owed, whether a loan that is due or accounts that haven’t been paid, it’s an awkward business for any individual…
Debtor Negotiation: how to negotiate with debtors successfully
Negotiating debt repayment is not always an easy task. The people you are asking to pay up may be in awkward, difficult or even embarrassing financial positions, and may be resentful or defensive as a result. Debt collection can be an emotional minefield for all…
Debt Collection: unpacking the process
Getting into debt is hardly a wise thing to do. However, some people can’t help situations in which they may have lost their job or had to purchase costly equipment for their business. Others sail into debt simply because they have never learnt the process of…