Blogs

Writing off Debt: the effect on your business and bottomline

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...

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Debt Collection in the time of Covid-19

Debt Collection in the time of Covid-19

Debt collection at its best can be an awkward process. No more so than in the midst of a pandemic. In fact, this must rate as the most challenging time to ask people to cough up what they owe. And it has an unpleasant domino effect because while you might be reticent...

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The Debt Mire: how to avoid getting into debt

The Debt Mire: how to avoid getting into debt

Debt is rarely intentional. It’s usually seen as a stopgap until you can sort things out and get up to speed with your money management. In most people’s minds debt is temporary – to begin with. But there’s that subtle point at which it becomes a spiral, slowly...

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When you are the Debtor

When you are the Debtor

Sometimes, while you’re struggling to bring in the money owed to you, you can find yourself in a difficult spot with your own debts. The balancing act between pulling in debts and paying debts at the same time can be a difficult one to negotiate. If for instance,...

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Saving your Business during Covid-19

Saving your Business during Covid-19

Avoiding insolvency through better debtor management There is no doubt that Covid-19 has had a deeply negative impact on most businesses. For many there is difficulty in staying afloat. And when your debtors are struggling to pay, your business outlook can slip from...

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Reduce your Debt: Covid-19 and unprecedented tough times

Reduce your Debt: Covid-19 and unprecedented tough times

When facing the current financial situation, the ravages to the economy of Covid-19, and your own debt issues – reducing your debt is hardly the advice you want to hear just at this time. But possibly this is exactly the right time to take a long hard look at your...

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Debtors Control: signs you need to outsource this function

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...

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Uncollectible Debt: time, tax and tenacity

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 exists....

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Debt Collection: Why you need an agency

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...

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