Sometimes, it’s inevitable that we have to deal with a slow or non-paying customer. Here are 5 benefits to registering a default against debtors that can help you and other businesses.
1. It can encourage a debtor to pay its debt faster and on time
2. It demonstrates that you take debt seriously
3. It warns other businesses that are trading with the debtor of their failure to repay a debt
4. It can potentially discourage other suppliers from trading with, or opening an account when they become aware of a previous default
5. It encourages the debtor to settle their debt out of fear of ruining their credit file
Do you have a debtor that you want to warn other businesses about? Click here to learn more or sign up to CreditorWatch today!