When is the Right Time to Call in the Debt Collectors?
Most business owners are confused about when to make this decision, when is the Right Time To Call In the Debt Collectors?
There is a SOLUTION…
You don’t have to feel like the guy in the picture, especially when you have customers who ARE NOT PAYING YOU.
It’s FRUSTRATING and ANNOYING when customers DON’T PAY YOU. Knowing when the right time to call the debt collectors will help you on making your decision faster. Debt Collection agencies are used as a tool to collect your overdue accounts. Preventing debt collection is key to any business. Every business has different needs so it’s best to get the right advice for your debt collection needs.
Simple tips to help you know when it’s the right time to call in the Debt Collectors
- Overdue accounts are dealt with when your customer(s) accounts are in arrears and outside your trading terms.
- No legal requirement to send a reminder to your customers. Although we suggest sending a reminder to avoid conflict with your customer. Many businesses give their customers too many chances to settle their accounts. I’m sure you have experienced this, right?
- Our recommendation for all businesses is to have a monthly plan of action to collect their outstanding accounts.
- “If you fail to plan, you are planning to fail.” (Benjamin Franklin)
- Here are some red flags to remind you when to take action. Broken promises, disputes that never end, customers do not return your phone calls or correspondence. The worse one would be, withholding payment whilst there is a dispute.
These are all RED FLAGS.
Have a simple procedure in place together with taking action monthly will produce Results.
While every business is different and some may have sensitivity depending on the type of industry they are in. You can still collect your outstanding accounts professionally and efficiently.
Click this link so you can receive advice and more information. https://acsdebtcollection.com.au/sydney-debt-collection-agency-award-winning-debt-collectors/ OR
BOOK A FREE 15 MINS Consultation with Us https://calendly.com/app/availability/schedules
Talk soon… Sonia