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...
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...
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...
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,...
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...
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...
